Lumity offers employers a benefits-focused platform that simplifies employee health-plan selection into a few clear choices while handling enrollment technology, employee support, and data analytics. The product presents employees with a limited set of plan options (about four) and uses data, including prescription data, to recommend plans that reduce cost without compromising benefits quality. About 90% of employees on the platform have opted into sharing prescription data, which Lumity uses to improve its models. Customers already include Lyft and GoFundMe. Lumity emphasizes a single-focus approach on benefits rather than an all-in-one HR suite, and says its expanding integrations and data create a growing moat. The company plans to use new funding to build out customer-acquisition efforts and continue refining its predictive analytics. Lumity offers a SaaS platform that optimizes employee health plans for SMBs using data and predictive analysis. Led by co-founder and CEO Tariq Hilaly, the company operates as a broker and monetizes primarily through insurance commissions. It provides its software and professional services to customers at no additional cost. Lumity intends to use the new funding to scale the rollout of its data-driven benefits platform. The company raised external capital to accelerate growth and platform adoption.

Total raised

$33M

Funding rounds

2

Latest round

Series B

Latest activity

Aug 2017