MyHealthMath, a health benefits enrollment navigation platform, raised $3.5m in Series B funding. The round was led by Jennus Innovation, along with other notable investors. This round builds on seed funding from angel investors, followed by a significant investment from Harvard Pilgrim Health Care in 2020.
“This raise reflects the real need for a more comprehensive approach to ‘decision support’,” explains MyHealthMath Founder and CEO Bob Watterson. “Plan choice mistakes are a costly and complicated problem to correct: you need better consumer education and support, and buy in from the many stakeholders who impact decision-making… brokers, benefit administrators, health carriers, etc. That’s why we’re building up a benefit navigation platform that brings value to everyone; it’s the comprehensive solution the industry has been missing, which is really what’s driven these investment dollars.”
MyHealthMath is an insurtech company that provides a full-service health benefit enrollment navigation platform that helps all stakeholders—employees, employers, health carriers, benefit administrators—get the most value for their health insurance investment.
The company intends to use the funds to enhance both its consumer and employer-facing product lines, including supporting ancillary benefits on the consumer side, and interface enhancements for their predictive analytics engine.
Announcement: MyHealthMath Secures $3.5M for Health Benefits Platform