About Benefitter
Benefitter is a company based in San Francisco (United States) founded in 2012 was acquired by HealthMarkets in August 2015.. Benefitter has raised $7.16 million across 3 funding rounds from investors including HealthMarkets, Asset Management Partners and Rock Health. Benefitter offers products and services including Quoting Software, Underwriting App, and Enrollment System. Benefitter operates in a competitive market with competitors including Hinge Health, Accolade, Sharecare, Betterfly and Wellhub, among others.
- Headquarter San Francisco, United States
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Sectors
Financial ServicesTechnology Healthcare
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Benefitter Insurance Solutions, Inc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$7.16 M (USD)
in 3 rounds
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Latest Funding Round
$4.36 M (USD), Series A
Jun 04, 2014
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Investors
HealthMarkets
& 2 more
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Employee Count
Employee Count
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Acquired by
HealthMarkets
(Aug 11, 2015)
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Products & Services of Benefitter
Benefitter offers a comprehensive portfolio of products and services, including Quoting Software, Underwriting App, and Enrollment System. 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.
Platform for building multi-carrier insurance proposals quickly
Mobile app for simplifying underwriting questionnaires
System for collecting employee elections via smartphone
Funding Insights of Benefitter
Benefitter has successfully raised a total of $7.16M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $4.36 million completed in June 2014. 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 3
- Last Round Series A — $4.4M
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First Round
First Round
(01 Oct 2012)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2014 | Amount | Series A - Benefitter | Valuation |
investors |
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| Feb, 2013 | Amount | Angel Round - Benefitter | Valuation |
investors |
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| Oct, 2012 | Amount | Seed - Benefitter | Valuation | Rock Health |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| 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 Benefitter
Benefitter has secured backing from 3 investors, including institutional and venture fund investors. Prominent investors backing the company include HealthMarkets, Asset Management Partners and Rock Health. 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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Digital Health focused VC & Accelerator firm investing in the US
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Founded Year | Domain | Location | |
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Offers personalized wealth management, investment advice, and real estate services.
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Founded Year | Domain | Location | |
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Provider of health insurance and medicare plans for individuals, families, seniors, and small businesses
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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 Benefitter
| 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 - Benefitter
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| 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 |
Benefitter Comparisons
Competitors of Benefitter
Benefitter 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 Hinge Health, Accolade, Sharecare, Betterfly and Wellhub, 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 |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Virtual physical therapy and digital pain care solutions are provided.
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| domain | founded_year | HQ Location |
Employee health benefits are facilitated via a cloud-based platform.
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| domain | founded_year | HQ Location |
Health and wellness social network for employees is provided.
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| domain | founded_year | HQ Location |
Employee health and well-being solutions are delivered through a platform.
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| domain | founded_year | HQ Location |
Cloud-based wellness programs are offered for employee health and productivity.
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| domain | founded_year | HQ Location |
Online platform for employee health benefits
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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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Frequently Asked Questions about Benefitter
When was Benefitter founded?
Benefitter was founded in 2012.
Where is Benefitter located?
Benefitter is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Is Benefitter a funded company?
Benefitter is a funded company, having raised a total of $7.16M across 3 funding rounds to date. The company's 1st funding round was a Seed of $100K, raised on Oct 01, 2012.
What does Benefitter do?
Benefitter offers SaaS-based benefit management and employee decision support for the transition from group benefits to individual benefits. Offers solutions using analytics for employers to choose the plan for individual insurance market. Helps employees through the enrollment process. Was acquired by HealthMarkets in August, 2015. Healthmarkets is the dba or assumed name of Insphere Insurance Solutions, which is licensed as an insurance agency in 49 states and DC.
Who are the top competitors of Benefitter?
Benefitter's top competitors include Accolade, Hinge Health and Wellhub.
What products or services does Benefitter offer?
Benefitter offers Quoting Software, Underwriting App, and Enrollment System.
Who are Benefitter's investors?
Benefitter has 3 investors. Key investors include HealthMarkets, Asset Management Partners, and Rock Health.
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