Health insurance data platform Vericred has secured a $5.5m Series A round. Nashville-based FCA Venture Partners led the round with existing and new investors also participating.
The New York-based company aims to offer technology companies a centralised data platform, enabling them to develop modern digital services for the health insurance and employee benefits industry.
Vericred’s co-founder and CEO Michael Levin said: “Vericred is an infrastructure company. Our role is to enable innovation in health and benefits by delivering the data and services that all industry innovators need, but which doesn’t make sense for each to build on their own.
“We are thrilled to partner with FCA to leverage their deep domain knowledge and network. With their investment, we will have the resources necessary to scale our sales team, expand the breadth and depth of our datasets and to introduce related services to enable important new functionality.”
The new funding takes the total raised by the company to more than $10m. It will use the new capital to accelerate sales growth and product developments.
FCA’s co-managing partner Matthew King will join Vericred’s board as a result of the deal. He commented: “Vericred’s centralised data platform is unique and highly scalable.
“With its combination of a strong management team and great technology, Vericred is positioning itself to power health insurance and employee benefit related applications, transactions and insights across the industry.”
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