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NEW YORK & MIAMI--(BUSINESS WIRE)--HealthCare.com, a leading data-driven insurtech platform, announced today the extension of its recent Series C equity round, which was led by Oaktree Capital Management, L.P. (“Oaktree”) as well as existing investors AXIS Capital, Second Alpha and Link Ventures. The additional $31.5M in Series C equity financing came from healthcare-focused private equity firm Hildred Capital Management (“Hildred”), bringing the total funding round to $211.5M.
“We are excited to have Hildred as a partner in this round,” said Don Loonam, Chief Executive Officer of HealthCare.com. “With deep strategic and operational experience and long-standing industry relationships, Hildred is a perfect strategic partner for us as we look to expand our direct-to-consumer insurance and pharmacy initiatives.”
“HealthCare.com is revolutionizing how consumers shop for health insurance. We are thrilled to help build on their strong momentum and partner with them to drive innovation and accelerate the development of their AI platform,” said David Solomon, Co-Founder and Managing Partner of Hildred Capital Management.
The HealthCare.com team is committed to changing the U.S. consumer’s relationship to their healthcare, creating solutions that make it easy to discover, choose, buy and use health insurance and other healthcare-related products – across every life-stage. Leveraging its deep data assets and AI algorithms, HealthCare.com matches individuals to an increasingly wide array of products in the healthcare space, including its own proprietary insurance plans and customizable insurance product bundles.
David Solomon has joined the HeathCare.com Board of Directors on behalf of Hildred. As previously announced, Brian Laibow, Managing Director and Co-Head of North America for Oaktree's Global Opportunities strategy, and Linda Ventresca, Chief Strategy Officer for AXIS Capital, have joined the HealthCare.com Board of Directors in conjunction with the funding round.
HealthCare.com is a digital healthcare platform connecting consumers, service providers and payors with the goal of bringing simplicity and transparency to an industry famous for its complexity and opacity. HealthCare.com also develops and markets a portfolio of proprietary, direct-to-consumer insurance and pharmacy plan products. Founded in 2014, the company is headquartered in New York City and Miami, Florida. For more info, visit www.healthcare.com.
Hildred is a New York-based private equity investment firm that pursues growth equity investments in middle market healthcare companies with leading products, technologies and services. Hildred invests in companies with revenues of up to $100 million and creates value from pursuing organic growth strategies, driving effective resource allocation, implementing operational improvements, generating business development, and supporting best-in-class management teams. Areas with attractive fundamentals where Hildred may invest include the following healthcare subsectors: healthcare services, consumer products, information technology, medical devices, life science tools and diagnostics, healthcare related development and manufacturing, and pharmaceuticals, as well as related businesses that impact these healthcare subsectors. For more information, please visit www.hildredcapital.com.
Media Contacts
For HealthCare.com:
Colleen McGuire
651-338-8822
For Hildred Capital Management:
Reevemark
Hugh Burns/Pamela Greene
212-433-4600
