InsurTech platform Gravie nabs $14.1m Series C

InsurTech platform Gravie has nabbed $14.1m for its Series C investment round led by GE Ventures.

The latest investment into the company saw contributions from previous investors including FirstMark Capital, Aberdare Ventures and Split Rock Partners.

Founded in 2013, Gravie is a health insurance marketplace allowing customers to buy, pay, and manage health care expenses in one location. The platform helps employers design, build and execute a custom benefits plan and also takes care of tasks including annual renewals, open enrollment meetings, endless rate increases and dealing with insurance companies.

Gravie co-founder and CEO Abir Sen said, “We’re excited to have GE Ventures as an investor as we continue on our journey of improving health benefits for employers and consumers. This funding enables us to continue on our path of rapid growth and help employers and consumers get better healthcare.”

Following the deal, GE Ventures managing director Lisa Suennen will join Gravie’s board of directors.

Since 2013, total funds raised by the Gravie has reached $44m, with last year it receiving a $1m investment from Securian Financial Group to roll out a new life insurance service. The company’s Series B funding round closed on $12.5m in 2015, with commitments from firms including Split Rock Partners.

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