Well, we foreshadowed we’d be doing more around the intersection of healthcare and technology. On the heels of our BioDigital and Recombine announcements, I’m excited to publicly announce our newest investment in Gravie.
Gravie sits at the intersection of some profound changes in healthcare. Consumers are becoming empowered (or forced) to take control of their healthcare decisions more than ever before. Employers are struggling with the increasing cost curves in healthcare, and in many cases, as disinterested parties, are phasing out coverage. Insurers and insurance remain incredibly complex to navigate and difficult for the lay person to understand, often times only figuring things out in their moment of greatest need. And finally a regulatory backdrop that is forcing major change on the system in the form of the ACA (“Obamacare”).
Gravie emerged to bring simplicity and transparency to this new world order. An intelligent, easy to use platform to navigate all the complex decisions in terms people can understand and a single place to consolidate all the information around health in one’s lives. Gravie also offers advocacy to consumers, acting as a voice for individuals and offering help when questions or problems arise. In short, Gravie is one place to go for peace of mind around your family’s health.
The company was founded by three fantastic entrepreneurs who have a long history together and in the space. Abir Sen, Jill Prevost and Marek Ciolko all worked together at Bloom Health, a company they started to bring Private Exchanges to employers, and successfully acquired by Wellpoint. Abir has also been part of the founding team at Definity (acquired by United) and Red Brick Health (pioneer of corporate health & wellness plans).
We seeded the company in the summer of 2013, and have witnessed swift execution on both product, launch and adoption. We are delighted to announce the close of a $10.5MM Series A, in which we participated heavily. We are quite excited to continue our partnership with the team at Gravie and welcome in Mo Kaushal and the Aberdare team!