INSUBCONTINENT EXCLUSIVE:
HealthJoy, a platform designed to make it easier for employees to use their healthcare benefits, has raised $30 million in Series C funding
led by Health Velocity Capital
Returning investors also participated, including United States Venture Partners, Chicago Ventures, Epic Ventures, Brandon Cruz and Clint
consultant agencies, HealthJoy simplifies the process of finding and using benefits
Its features include an AI-based virtual assistant and healthcare concierges
The startup says it has a monthly login rate of 33% and that its clients, which now includes 500 employers, see a tenfold increase in the
launched two new services
One is a price transparency tool called HealthJoy Rewards that allows companies to provide incentives for employees to use more
is called HealthJoy EAP, an employee assistance program that Holland says is a priority for further development
Access to traditional counseling is on decline in many rural areas due to lack of access
virtual assistant, develop new services, integrate with more partners and aggregate data
HealthJoy plans to add 200 employees in its Chicago office during 2021, with the goal of doubling its engineering team
Future plans include working with more small- to medium-sized businesses and a potential partnership to serve Medicare recipients.Other
startups focused on employee benefits include League, Catch and Collective Health
Holland says HealthJoy integrates with, instead of competing with, benefits administration platforms and differentiates by being able to
and costly healthcare system, one that costs US employees over $1.2 trillion each year
