Jellyvision, a maker of employee communication software and one of Chicago's most well-known tech companies, announced it will acquire a Seattle-based Techstars alum.
Jellyvision announced that it has agreed to acquire FlexMinder, a startup that automates the manual healthcare reimbursement processes and makes it easier for people to manage their medical spending. FlexMinder launched in 2011 and was selected that year to the Techstars Seattle class. The company has raised around $2.5 million since it was founded.
In a deal Jellyvision called an "asset purchase agreement," the Chicago company says it plans to incorporate FlexMinder's health savings account functionality into its benefits communication platform, and the FlexMinder team will become the FlexMinder Division of Jellyvision. FlexMinder's staff will remain in Seattle.
Terms of the deal were not disclosed.
Jellyvision builds software that talks people through important and complex life decisions--such as choosing a healthcare insurance plan or saving for retirement. Jellyvision's employee communication platform ALEX helps employees better understand things like health insurance premiums, 401k allocations and other financial issues. ALEX is used by more than 800 companies, including 88 of the Fortune 500.
FlexMinder’s technology supports third-party administrators by automating the healthcare reimbursement process, making it much easier to manage money and ensure that people don’t lose it at the end of the year.
"We believe that FlexMinder’s capabilities will help make our service even more useful to people by enabling them to easily view and understand their benefits and claims activity," Jellyvision CEO Amanda Lannert said in a news release. "In many cases, people leave free money on the table every year due to the need to follow laborious process. By introducing FlexMinder’s capabilities to our existing platform, we look to make a difference by putting money back into people’s wallets.”
