Vericred provides APIs across medical, life, dental, vision and other lines that power quoting, enrollment, member management and renewals on multi-carrier InsurTech and BenTech platforms. Its infrastructure transmits billions of data points and supports a network of more than 300 carriers (including Cigna, Guardian, Humana, MetLife, Principal and Kaiser) and 100+ InsurTech companies such as Rippling, Gusto, Ease and Namely. The platform simplifies the complex exchange of data between carriers and technology partners, creating a network effect that brings new products and innovation to market. Vericred calls itself the infrastructure—or the “pipes”—that enable seamless digital distribution and a true quote-to-card experience. The company will use new capital to expand teams in New York, NY and Omaha, NE, build its marketing and sales functions, and grow the community of participants on its platform. Michael W. Levin is CEO and co-founder. Vericred provides APIs that deliver health plan design and rate, provider‑network and formulary data to insurtech platforms. Led by co‑founder and CEO Michael W. Levin, the company was launched in September 2016 and is based in New York City. It serves clients such as GetInsured, EaseCentral, Maestro Health, Decisely, Wellthie, Maxwell Health and the Robert Wood Johnson Foundation. Vericred closed a $5.5M Series A and has raised $10M in total funding. The company will use the capital to scale its sales team, accelerate sales growth and product development to expand the depth of its datasets and to introduce related services to enable new functionality. In conjunction with the funding, FCA Venture Partners' co‑managing partner Matthew King joined Vericred's board of directors. Vericred is a New York City healthcare technology company that provides provider-network and health insurance plan data through a REST API for use in search, quoting and sales platforms, private exchanges and marketplaces. The dataset covers networks for all under-65 individual on- and off-marketplace plans and about 80% of small group networks. The company says it will complete its small group dataset and add Medicare Advantage networks in early 2016. Vericred intends to use the new funding to expand its data services and offerings and to scale its sales efforts. Michael W. Levin is co-founder and CEO. The article cites a $3.1M second seed round following a $1.125M first seed round closed in November 2014. Vericred builds and maintains healthcare provider data to bring accuracy, efficiency and transparency to provider information. The company plans to launch its first product next month and will use newly raised capital to expand its healthcare provider data repository. Vericred says the provider data will power a consumer website and be leveraged for credentialing and other provider-centric applications. The company positions its solutions as addressing fragmented, costly and inefficient collection and verification of provider information that affects insurance, patient safety, risk management, compliance and regulatory functions. Vericred completed a seed round raising $1.125 million via the sale of Series Seed Convertible Preferred Stock to accredited investors. Founded in March 2014 and operating with a six-person team in New York, the company is using the seed proceeds to launch product and grow its data assets.

Total raised

$33M

Funding rounds

4

Latest round

Series B

Latest activity

Apr 2021