The Minneapolis-primarily based provider of wellness advantages plans has secured far more capital from investors to expand its coverage in the US

Gravie, also a single of Minnesota’s biggest venture-backed corporations, lately announced $179 million in new development funding. The decade-old enterprise will apply it to a number of locations of its enterprise, such as its on-line marketplace, exactly where employers decide on wellness plans, and Gravy’s personal wellness advantages program, named Comfort, which launched in 2018.

Basic Atlantic, a New York-primarily based equity firm with $72 billion in assets below management and adhere to-on capital from current investors — FirstMark Capital and AKSA Venture Partners — led the late-stage funding round.

Considering that its inception, Gravie has secured $327 million from venture and equity investors. The newest investment need to close inside 30 days, topic to regulatory approval, according to a joint statement from Gravia and Basic Atlantic.

A year ago this month, Gravie closed $75 million in its Series E funding round. At the time, the enterprise had roughly 525 employers nationwide applying Gravie for each their Industry and Comfort goods. The program was to use the E series to expand its digital marketplace attain.

Gravie now ships to far more than 1,200 enterprise clients nationwide.

“We’re on a journey to assistance increase wellness advantages for companies and their staff, and we’re just obtaining began,” mentioned Abir Sen, co-founder and co-CEO of Gravie.

Sen previously attributed some of the company’s development to the pandemic, which created wellness care a best priority for employers and their staff. He also attributed the development to the company’s Comfort solution, which is made use of by smaller and medium-sized companies due to the fact they generally will not have a devoted advantages employees.

By Editor

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