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HealthJoy provides companies with a benefits experience platform for employees to use and understand their benefits through personalized guidance and AI technology
Fremont, CA: HealthJoy, a Chicago-based company, raised $30 million in Series C round of funding led by Health Velocity Capital. Other round participants include existing investors U.S. Venture Partners, Chicago Ventures, Epic Ventures, Brandon Cruz, and Clint Jones, co-founders of GoHealth. Saurabh Bhansali, partner at Health Velocity Capital, will be joining HealthJoy's Board of Directors soon. HealthJoy plans to use the proceeds to accelerate the development of its core platform and services.
HealthJoy's mission is to ensure that members have access to affordable, high-quality healthcare outcomes regardless of their plan benefits. Benefit consultants constantly work to build innovative health plans to help reduce employer costs. When they deploy HealthJoy as the front door for their programs, they drive unmatched utilization, outcomes, and satisfaction.
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"We[vendor_logo_first] believe the key to lowering costs lies in giving employees a simple, integrated benefits experience that helps them make smart, speedy decisions. As provider systems, networks, and care quality data become more transparent over the next ten years and new technology-powered services become available, our platform will seamlessly incorporate these tools. We'll be able to decrease costs, improve care, and make everything easy," said Justin Holland, CEO, and Co-Founder of HealthJoy. "We'll continue to broaden our partnerships that align with that mission. Everyone at HealthJoy is excited that Health Velocity Capital is leading this round of funding, as they've worked with many leading health tech companies at our precise period of growth."
HealthJoy plans to use its Series C funding to join with more partners, accumulate more data to improve healthcare journeys, and further delight members through exceptional experiences. HealthJoy will also be increasing its hiring in Chicago with a planned expansion of over 200 employees through 2021.
"HealthJoy offers proven technology solutions to help navigate employees through our nation's complex and costly healthcare system, one that costs U.S. employers over $1.2 trillion each year. HealthJoy has shown that it can deliver substantial cost savings to employers while simplifying the employee healthcare experience," said Bhansali, Partner at Health Velocity Capital. "We are extremely excited by the huge growth that HealthJoy has experienced and their acceptance in the marketplace. Their growing team created a platform that's second to none, and having seen their roadmap, even greater things are sure to happen in the future.
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