About Elevate
Elevate is a company based in Denver (United States) founded in 2020 by Brian Strom and Brian Cosgray. It operates as a SaaS (Software-as-a-Service), and API-as-a-Product. Elevate has raised $48 million across 3 funding rounds from investors including Norwest Venture Partners, Anthemis Group and Fin Capital. The company has 5 employees as of December 31, 2023. Elevate offers products and services including HSA Software, FSA Software, and HRA Software. Elevate operates in a competitive market with competitors including Alight, Swile, Wright Express, Businessolver and HealthEquity, among others.
- Headquarter Denver, United States
- Employees 5 as on 31 Dec, 2023
- Founders Brian Strom, Brian Cosgray
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Sectors
Financial ServicesTechnology Healthcare
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Phone
*********
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Website
*********
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Social
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- Legal Name Elevate Consumer Directed Benefits
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$48 M (USD)
in 3 rounds
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Latest Funding Round
$8 M (USD), Series B
Oct 15, 2024
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Investors
Norwest Venture Partners
& 6 more
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Employee Count
5
as on Dec 31, 2023
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Products & Services of Elevate
Elevate offers a comprehensive portfolio of products and services, including HSA Software, FSA Software, and HRA Software. 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.
Software for managing Health Savings Accounts efficiently.
Tool for administering Flexible Spending Accounts seamlessly.
Platform for handling Health Reimbursement Arrangements effectively.
Unlock access to complete
Funding Insights of Elevate
Elevate has successfully raised a total of $48M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $8 million completed in October 2024. 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 B — $8.0M
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First Round
First Round
(04 Oct 2021)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2024 | Amount | Series B - Elevate | Valuation | Fin Capital | |
| Apr, 2023 | Amount | Series B - Elevate | Valuation | Anthemis Group | |
| Oct, 2021 | Amount | Series A - Elevate | Valuation | Greycroft , Norwest Venture Partners |
| 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 Elevate
Elevate has secured backing from 7 investors, including venture fund investors. Prominent investors backing the company include Norwest Venture Partners, Anthemis Group and Fin Capital. 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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Venture capital firm focused on fintech and B2B SaaS companies
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Founded Year | Domain | Location | |
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Early and growth-stage startups are funded by Anthemis Group.
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Founded Year | Domain | Location | |
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Early-stage investments are provided to visionary SaaS founders.
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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 Elevate
| 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 - Elevate
| 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 |
Elevate Comparisons
Competitors of Elevate
Elevate 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 Alight, Swile, Wright Express, Businessolver and HealthEquity, 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 |
Cloud-based HRMS solutions are offered for enterprise HR management.
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| domain | founded_year | HQ Location |
A card-linked wallet is provided for employee financial management.
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| domain | founded_year | HQ Location |
Employee benefit administration and payment solutions are provided for enterprises.
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| domain | founded_year | HQ Location |
Cloud-based employee benefits administration solutions are delivered.
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| domain | founded_year | HQ Location |
Health benefits and savings are managed through an app-based platform.
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| domain | founded_year | HQ Location |
Employee benefits administration and AI-driven recommendations are provided for enterprises.
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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 Elevate
Frequently Asked Questions about Elevate
When was Elevate founded?
Elevate was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Where is Elevate located?
Elevate is headquartered in Denver, United States. It is registered at Denver, Colorado, United States.
Who is the current CEO of Elevate?
Brian Cosgray is the current CEO of Elevate. They have also founded this company.
Is Elevate a funded company?
Elevate is a funded company, having raised a total of $48M across 3 funding rounds to date. The company's 1st funding round was a Series A of $12M, raised on Oct 04, 2021.
How many employees does Elevate have?
As of Dec 31, 2023, the latest employee count at Elevate is 5.
What does Elevate do?
AI-driven solutions for benefits administration are offered by Elevate. Focus is placed on automating Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs). Services are extended to benefits platforms, financial institutions, health plans, and third-party administrators. End-to-end automation is emphasized to enhance user experience and reduce manual tasks. Innovation through frequent updates and API integrations is prioritized. Sectors served include healthcare and financial technology, with a commitment to partner growth and scalable architecture.
Who are the top competitors of Elevate?
Elevate's top competitors include Alight, Wright Express and Businessolver.
What products or services does Elevate offer?
Elevate offers HSA Software, FSA Software, and HRA Software.
Who are Elevate's investors?
Elevate has 7 investors. Key investors include Norwest Venture Partners, Anthemis Group, Fin Capital, SaaS Ventures, and Greycroft.