MIAMI, Nov. 11, 2014 /PRNewswire/
-- HealthCare.com, the nation's leading privately-owned
unbiased search and comparison engine for personal health insurance
plans, announced today that it has secured $7.5 million in Series A funding. The financing
will be used to continue to build out HealthCare.com's consumer
interfaces and service offerings, and expand the company's reach in
the online healthcare market.
HealthCare.com has been a longtime provider of online
healthcare-related services since the company's founding back in
2006. Since then, HealthCare.com has continued to grow and offer
the country's most comprehensive selection of health insurance
options, including virtually all of the state-based exchange plans,
federal exchange plans and many private, off-exchange plans. Using
powerful proprietary technology and tools that continue to develop
and expand, HealthCare.com helps consumers compare costs and
subsidies for free, and enables them to purchase their insurance
online, over the phone with a licensed advisor, or in person with a
local agent. Open enrollment for purchasing health insurance for
2015 or renewing current healthcare plans begins Nov. 15, 2014, and runs through Feb. 15, 2015.
The strategic funding is being led by Jeffery H. Boyd and Robert J. Mylod, Jr. Mr. Boyd is Chairman
of the Board of The Priceline Group (NASDAQ: PCLN) and was its
Chief Executive Officer from 2002 to 2013. Before joining
priceline.com, Mr. Boyd was Executive Vice President, General
Counsel and Secretary of Oxford Health Plans, Inc. Mr. Boyd's
investment is being made through Brothers Brook, LLC, the strategic
investment firm where he is the principal. In connection with the
HealthCare.com investment, Mr. Boyd has joined the Board of
HealthCare.com.
Mr. Mylod served as Priceline's Chief Financial Officer from
1998 to 2009 and as its Vice Chairman from 2009 to 2012. Mr.
Mylod's HealthCare.com investment is being made through his Annox
Capital strategic investment firm www.annoxcapital.com. Other Annox
Capital investments include Dropbox, Redfin, EverBank, Freightos
and Novocure. Mr. Mylod serves on the Board of Directors of
Dropbox, EverBank Financial Corp. (NYSE: EVER) and Redfin.
"HealthCare.com is pleased to have the backing of Mssrs. Boyd
and Mylod, two entrepreneurs who share our commitment to educate
individuals to become better buyers of healthcare," said
Jeff Smedsrud, Chief Executive
Officer of HealthCare.com. "Their track records demonstrate that
these gentlemen know what's required to build highly engaging
consumer-facing businesses. We are also excited to have
Jeff Boyd join the HealthCare.com
board. His experience with both Internet and healthcare businesses
meshes well with our own management team, and we plan to take full
advantage of his insights."
"While the Internet has brought consumers great transparency and
convenience in many industries, there is an important opportunity
to help consumers deal with the increasing complexity and cost of
health insurance," said Mr. Boyd, "particularly when consumers are
moving away from employer-sponsored plans to individual plans as a
result of the Affordable Care Act. Jeff
Smedsrud and his team are building a powerful, unbiased,
comparison shopping tool that allows consumers to find the right
plan and choose their preferred method of enrollment. This
investment provides resources for continuing to build out
HealthCare.com's infrastructure and interfaces, developing and
enhancing products, and growing the brand. Bob and I are excited
about the potential for HealthCare.com, and we look forward to
working with the management team going forward."
About HealthCare.com
HealthCare.com has been a
longtime provider of online healthcare-related service since the
company's founding back in 2006. Privately-owned HealthCare.com is
the nation's leading unbiased search and comparison engine for
personal healthcare. The website features over 75,000 plans,
including virtually all of the state-based exchange plans, federal
exchange plans and many private, off-exchange plans. Using powerful
proprietary technology and tools, HealthCare.com continues to grow
its technology, interfaces and services to help consumers compare
health insurance costs and subsidies for free, and enable them to
purchase their insurance online, over the phone with a licensed
advisor, or in person with an expert, local agent. HealthCare.com's
goal is to help consumers easily research information and compare
health insurance quotes from insurance carriers using interactive
tools and an intuitive interface. The company's website offers
trusted recommendations and a comparison shopping experience to
simplify decision-making, allowing consumers to find the right
health insurance plan that fits their lifestyle. It also offers
online calculators and shopping tools to make buying easier and
more efficient. With more than one million visitors each month,
HealthCare.com partners, and integrates with industry-leading
health insurance companies to help consumers enroll into plans.
HealthCare.com has offices in Miami, Minneapolis, New
York and Guatemala City.
For more information, visit www.healthcare.com.
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SOURCE HealthCare.com