About Benefits Science
Benefits Science is a company based in Boston (United States) founded in 2012 by Sid Mann, Dimitris Bertsimas, and Stephen Sofoul was acquired by MultiPlan in May 2023.. Benefits Science has raised $4.06 million across 4 funding rounds from investors including MultiPlan. The company has 49 employees as of December 31, 2022. Benefits Science offers products and services including Analytics-Based Services, Data & Decision Science Services, Network-Based Services, Payment & Revenue Integrity Services, and Surprise Billing Services. Benefits Science operates in a competitive market with competitors including Lumeris, Ribbon Health, Prognos Health, PurpleLab and Assured Allies, among others.
- Headquarter Boston, United States
- Employees 49 as on 31 Dec, 2022
- Founders Sid Mann, Dimitris Bertsimas, Stephen Sofoul
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Sectors
Financial ServicesHealthcare
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Email
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Phone
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Website
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Social
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- Legal Name Benefits Science Llc
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Products & Services of Benefits Science
Benefits Science offers a comprehensive portfolio of products and services, including Analytics-Based Services, Data & Decision Science Services, Network-Based Services, Payment & Revenue Integrity Services, and Surprise Billing Services. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Analyzes medical charges to identify cost reductions for healthcare stakeholders.
Delivers actionable data for optimizing healthcare plan designs and decisions.
Manages custom provider networks to improve healthcare access and efficiency.
Prevents improper billing to maximize savings in healthcare transactions.
Handles compliance for surprise bills to protect plan members.
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Funding Insights of Benefits Science
Benefits Science has successfully raised a total of $4.06M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $3 million completed in July 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series A — $3.0M
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First Round
First Round
(31 Mar 2016)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2019 | Amount | Series A - Benefits Science | Valuation |
investors |
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| Jan, 2018 | Amount | Seed - Benefits Science | Valuation |
investors |
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| Aug, 2017 | Amount | Seed - Benefits Science | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Benefits Science
Benefits Science has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include MultiPlan. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Medical payment integrity and analytics services are provided by MultiPlan.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Benefits Science
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Benefits Science
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Benefits Science Comparisons
Competitors of Benefits Science
Benefits Science operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Lumeris, Ribbon Health, Prognos Health, PurpleLab and Assured Allies, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Lumeris offers population management and accountable care solutions
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| domain | founded_year | HQ Location |
Predictive analytics platform is provided for healthcare providers.
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| domain | founded_year | HQ Location |
AI-based platform for clinical data sharing and management is provided.
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| domain | founded_year | HQ Location |
Healthcare analytics solutions for healthcare stakeholders
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| domain | founded_year | HQ Location |
Predictive solutions are offered for policyholders' aging journeys.
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| domain | founded_year | HQ Location |
Data management software is provided for healthcare administration tasks.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Benefits Science
Frequently Asked Questions about Benefits Science
When was Benefits Science founded?
Benefits Science was founded in 2012 and raised its 1st funding round 4 years after it was founded.
Where is Benefits Science located?
Benefits Science is headquartered in Boston, United States. It is registered at Boston, Massachusetts, United States.
Who is the current CEO of Benefits Science?
Stephen Sofoul is the current CEO of Benefits Science. They have also founded this company.
Is Benefits Science a funded company?
Benefits Science is a funded company, having raised a total of $4.06M across 4 funding rounds to date. The company's 1st funding round was a Seed of $100K, raised on Mar 31, 2016.
How many employees does Benefits Science have?
As of Dec 31, 2022, the latest employee count at Benefits Science is 49.
What does Benefits Science do?
Benefits Science was founded in 2012 in Boston, United States, focusing on the healthcare sector. A cloud-based platform is utilized to analyze population risks, examine claims for fraud reduction, and generate prescriptive recommendations. These services support healthcare providers in managing costs through data-driven insights, with operations centered in the U.S. The company is led by co-founders including Stephen Sofoul as CEO.
Who are the top competitors of Benefits Science?
Benefits Science's top competitors include Lumeris, Ribbon Health and Prognos Health.
What products or services does Benefits Science offer?
Benefits Science offers Analytics-Based Services, Data & Decision Science Services, Network-Based Services, Payment & Revenue Integrity Services, and Surprise Billing Services.
Who are Benefits Science's investors?
Benefits Science has 1 investor. Key investors include MultiPlan.
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