“The pace at which clients and their employees have adopted HealthJoy is only fueling the excitement of their channel partners, leading to significant and accelerating revenue growth." - Jonathan Root General Partner at U.S. Venture Partners
CHICAGO (PRWEB) March 08, 2019
HealthJoy, a Chicago-based company focused on making healthcare simple through AI-powered guidance, announced today it has raised $12.5 million in Series B financing led by U.S. Venture Partners. Also participating were Epic Ventures and existing investors Chicago Ventures, Sidekick Ventures, and the co-founders. Jonathan Root, M.D., a General Partner at U.S. Venture Partners, will be joining the HealthJoy Board of Directors.
HealthJoy tackles one of the most significant challenges to American companies, the continuing rise of healthcare costs. The U.S. spends $3.5 trillion on healthcare annually, which has grown over 30-fold in the last 40 years. To stay competitive employers have shifted rising costs to their employees. Rather than increasing the burden on working families, HealthJoy simplifies access to healthcare through a modern, digital experience to drive higher value decisions at a lower cost.
“Employees are frustrated with healthcare they can barely afford, and employers can't shift costs any further. Companies now understand that to tackle their total spend they have to address the healthcare costs of individual employees," said Co-founder and CEO Justin Holland. “We’re attacking each vertical of employee cost by combining our proprietary healthcare technology stack with the best industry partners to deliver an elegant solution for employees, companies, and their HR teams. U.S. Venture Partners has deep experience in healthcare, navigating public markets, and working with teams in the growth stage. We’re excited to have them on our side during our company’s next phase. With the rapid expansion of our team in Chicago and abroad, we’re looking for curious people to help us break down barriers and achieve our mission of making healthcare simple.”
HealthJoy works with companies to reduce healthcare costs and administrative burden by focusing on the 365 days a year that employees and their families utilize healthcare benefits. Delivered through an easy-to-use mobile app, the platform centers around a personalized, conversational AI model that incorporates a wide variety of healthcare data, including claims, medical deductibles, HSA balances, prescriptions, and far more to drive unrivaled employee engagement throughout the year.
“HealthJoy is offering a holistic solution that meets a previously unmet need in the market. The platform is delighting employees, their families, employer clients, and benefit consultants,” said General Partner Jonathan Root. “The pace at which clients and their employees have adopted HealthJoy is only fueling the excitement of their channel partners, leading to significant and accelerating revenue growth. We’re excited to help this first-class team shape the future of how employees engage with their healthcare.”
HealthJoy is currently hiring for numerous openings across all disciplines. Please see https://healthjoy.com/join-us/ for more information.
About U.S. Venture Partners
U.S. Venture Partners (USVP) is a leading Silicon Valley venture capital firm, partnering with entrepreneurs to transform their ideas into world-changing companies. USVP has invested in over 400 companies spanning three decades, including: Box, Castlight Health, Check Point Software, Concur, GoPro, Guidewire Software, HotelTonight, Imperva, InsideSales.com, Inspire Medical, Intersect ENT, Omada Health, OncoMed, Prevoty, SanDisk, Sun Microsystems, Trunk Club, Trusteer, Yammer, and Zerto. USVP focuses on early-stage start-ups that transform cybersecurity, enterprise software, consumer mobile and e-commerce, and healthcare. The USVP team consists of former entrepreneurs, technologists, corporate executives, and financial professionals who assist with strategy, scaling, team building, product development, and business development. USVP is based in Menlo Park, California. More information can be found at http://www.usvp.com.
HealthJoy is an all-in-one healthcare guidance and engagement platform that empowers employees to make better healthcare decisions. The platform brings together online doctors, healthcare advocacy, prescription savings, and other cost containment strategies into an easy-to-use mobile app. The app becomes the center of the member's experience and increases benefits satisfaction while reducing administration and benefits costs. HealthJoy integrates with a client's existing benefits package and fundamentally changes the dynamics of healthcare by empowering members. Learn more at http://www.HealthJoy.com.