Clara Insurance rebrands to Brella after extending its seed round

Brella aims to make it easy for employers to enhance their employee benefits with a simple supplemental plan that covers more and truly complements their health insurance.

Clara Insurance has rebranded to Brella Insurance, in tandem with the close of a $1.5m funding round.

This capital boost was supplied by Digitalis, Operator Partners and angel investor Ron Bouganim.

The investment comes hot off the heels of Brella’s seed round, which it closed on $5.5m in March 2020. Brella’s initial seed round included Two Sigma Ventures, with additional support coming from Founder Collective, RGAX LLC, SymphonyAI and more.

Brella did not disclose why it had changed its name.

The InsurTech helps employers to enhance their employee benefits through a supplemental plan to their health insurance. The company’s insurance pays cash if a holder is diagnosed with one of the 13,000 covered conditions. Many of these are complications from Covid-19, it said.

The company, which was founded in 2019, covers a range of conditions including chronic illnesses and mental health.

Veer Gidwaney founder and CEO said, “Brella covers more conditions than any other supplemental health plan on the market, so we took the opportunity to choose a brand name that evokes the wide-ranging coverage we’re excited to bring to Texas.

“We’re also excited to welcome a few new investors who bring a wealth of industry experience as we build Brella into a company that ensures health hardships don’t lead to financial hardship.”

Copyright © 2020 FinTech Global

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