8 months ago


Q4 2017

Q4 2017 Industry Theme The Sobering of InsurTech: Adapting Business Models for Incumbents Business Process Enhancement – Selected Companies Business Process Enhancement (US$ in millions) # Company Total Funding 8 Maestro Healthcare (AXA) Investor(s) 59.0 • AXA Group 9 Maxwell Health 56.4 • Cambia Health Solutions • Catalyst Health Ventures • GIS Strategic Ventures • Lerer Hippeau Ventures • Sun Life Financial • Other Investors (a) 10 Justworks 53.0 • Bain Capital Ventures • Daring Journey Ventures • Index Ventures • LocalGlobe • Redpoint Ventures • Thrive Capital 11 One 52.2 • AGI Partners • AmFam Ventures • AXA Strategic Ventures • Camp One Ventures • Centana Growth Ptnrs. • H&Q Asia Pacific • MassMutual Ventures 12 Bswift (Aetna) 13 Remedy Partners 51.0 • Aetna 50.3 • Bain Capital Ventures • Undisclosed Investors 14 PokitDok 48.7 • GIS Strategic Ventures • Healthy Ventures • Lemhi Ventures • McKesson Ventures • Other Investors (b) 15 Gravie 40.7 • Aberdare Ventures • FirstMark Capital • GE Ventures • Securian Financial Group • Split Rock Partners • Undisclosed Investors 16 Simplee 37.5 • 83North • AmEx Ventures • Embarcadero Ventures • Heritage Group • Social Capital Description • Cutting-edge health benefits service company designed to reduce costs, simplify administration processes and integrate medical service management on a single platform • Acquired by AXA in January 2018 • Simplifies benefits and HR for small-to-midsized employers by providing a benefits marketplace for employees and enterprise tools that streamline HR administration processes • HR management and benefits administration software enabling employers to streamline administrative processes • Integrated cloud-based platform designed to transform the way insurers interact with customers • Comprehensive solutions include policy administration, rating, billing data analytics, CRM, payment processing and agency management • Enables insurers to modernize operations and offer superior solutions to customers • Cloud-based HR and benefits software and service provider for employers, and public and private exchanges nationwide • Acquired by Aetna in 2014 • Episode payment program manager that empowers health care providers to develop and operate patient-centric episode of care payment programs • Technology-enabled platform seeking to streamline administrative functions within the health care process, including scheduling appointments, submitting claims and managing health care data • Digital health benefits administration platform that helps employers develop customized benefits plans and employees with choosing appropriate and affordable coverages • Aims to become appointed with all insurance companies in every state; individuals can purchase plans from nonappointed companies if the insurer sells plans to the public • Payments and loyalty platform that helps leading medical providers improve collections with clear interactive bills and payment convenience for patients • Proprietary medical wallet application allows users to manage and pay for all of their family’s health care expenses in one location (a) Includes Adams Street Partners, Annox Capital, BoxGroup, Brothers Brook, Cendana Capital, Industry Ventures, Schooner Capital, Serious Change Fund, Startup Health Academy, TiE Angels, Tribeca Venture Partners, Vaizra Investments, Western Tech Investment and undisclosed investors. (b) Includes Ballast Fund, CRV, FFP Holdings, New Atlantic Ventures, New Ground Ventures, Rogers Venture Partners, Subtraction Capital and undisclosed investors. 19

Q4 2017 Industry Theme The Sobering of InsurTech: Adapting Business Models for Incumbents Business Process Enhancement – Selected Companies Business Process Enhancement (US$ in millions) # Company Total Funding Investor(s) 17 Lumity 33.0 • Draper Fisher Jurvetson • Rock Health • Social Capital • True Ventures 18 iPipeline 33.0 • Fidelity Ventures • Golub Capital • NewSpring Holdings • Tech Crossover Ventures • Thoma Bravo 19 Liazon 30.8 • Bain Capital Ventures (Willis • Bessemer Ventures Towers Watson) • F-Prime Capital • Ingleside Investors • Rand Capital • Willis Towers Watson 20 League 29.0 • BDC Capital • Foundation Capital • Manulife Financial • OMERS Ventures • Portag3 Ventures • Power Financial • Quantum Valley • Real Ventures • Royal Bank of Canada 21 Hixme 25.3 • Kleiner Perkins Insurance • Propel Venture Partners Solutions • Rosemark Capital • Transamerica Ventures • Undisclosed Investors 22 hCentive 25.0 • Undisclosed Investors 23 hibob 25.0 • Arbor Ventures • Battery Ventures • Bessemer Ventures • Eight Roads Ventures • Local Globe • Taavet Hinrikus 24 UniRisX 22.3 • Delaware Crossing • JumpStart Angel Network • Robin Hood Ventures • Undisclosed Investors 25 15.0 • Greenwoods Inv. • Meridian Capital • Sequoia Capital China • Tsing Ventures Description • Using powerful insights and tools condensed into a simple online dashboard, Lumity offers efficient “consulting-in-a-box” to enable employers to make smart health benefits decisions while driving cost savings and better outcomes for businesses and employees • Service provider offering a suite of on-demand, distribution products for the insurance industry, which streamline forms processing, data services, quotes and policy delivery • Employee benefits software provider that helps employees purchase customized packages • Acquired by Willis Towers Watson in 2013 • Mobile employee benefits platform that aims to connect employees to a network of health services and benefits • Technology-enabled employee benefits platform that streamlines the purchasing and management process for employers • Cloud-based technology service provider that integrates and consolidates benefits and HR management • Israel based cloud-enabled system that integrates HR, employee benefits, pension and auto insurance enrollment and associated data into a secure online data storage platform for small businesses • Global provider of digitally integrated, end-to-end insurance product and policy solutions enabling clients to launch, distribute and manage insurance products anywhere in the world • China based human resources and benefits management outsourcing solution Quarterly InsurTech Briefing Q4 2017 20

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