HealthJoy, a Chicago startup simplifying how employees find and use healthcare benefits, has raised a new round of funding to help it grow.
The startup announced Monday that it raised a $30 million Series C round led by Health Velocity Capital, a San Francisco-based venture capital firm that invests exclusively in healthcare software and services companies. Other investors include U.S. Venture Partners, Chicago Ventures, Epic Ventures, and Brandon Cruz and Clint Jones, the co-founders of GoHealth.
HealthJoy has now raised more than $48 million to date, according to Crunchbase. The startup last raised $12.5 million in March 2019.
HealthJoy also announced Monday that Saurabh Bhansali, a partner at Health Velocity Capital, will be joining HealthJoy’s board of directors.
The startup said it plans to use the new funding to accelerate hiring and add more than 200 people by the end of 2021. The startup will also use the new funds to accelerate the development of its tech and services.
Founded in 2014, HealthJoy has built an AI-based virtual assistant platform that integrates with healthcare service providers to help users better understand their healthcare benefits.
"We believe the key to lowering costs lies in giving employees a simple, integrated benefits experience that helps them make smart, speedy decisions,” said Justin Holland, the co-founder and CEO of HealthJoy, in a statement.
