Maxwell Health offers a Health-as-a-Service platform that serves as an operating system for employee benefits, engaging employees and providing a centralized place to access health and benefits services. Its web portal and mobile app leverage data from multiple sources to enable more informed health solutions. The company’s technology is licensed by benefits brokers, TPAs, insurance carriers, PEOs, and other vendors for direct use with their employer clients. Led by Veer Gidwaney, Maxwell operates a marketplace of insurance, lifestyle, and financial products alongside its core platform. Following the recent fundraise the company plans to continue investing in its benefits and HR platform, its marketplace, and partner-facing solutions to serve small and mid-sized businesses across the country. Maxwell has raised $56.4M to date, including the newly closed Series C. Maxwell Health provides a Health-as-a-Service platform comprising a marketplace, a comprehensive benefits-administration system, and a mobile/web portal where employees access benefits, navigate healthcare, and manage health and wealth. The platform aggregates data from integrated services to deliver more informed health solutions and is licensed by benefits brokers, TPAs, carriers, and other vendors for use with their employer clients. Employers can offer fully- and self-insured medical plans, exchange products, dental, vision, life, disability, and financial benefits such as 401(k) and HRA/HSA/FSA through Maxwell’s system. Maxwell integrates third-party services including Doctor on Demand (telemedicine), Care.com (child care), Health Advocate (concierge services), HelloFresh (meal delivery), ID Watchdog (identity-theft protection), and BioIQ (biometric screening). Led by CEO and co-founder Veer Gidwaney, the company plans to use new funding to grow its team and continue expanding product functionality. The company operates from Boston, MA and New York, NY. Maxwell Health provides an enterprise software platform that helps brokers and employers (targeting companies with fewer than 1,000 employees) create and manage health insurance, payroll and a range of employee benefits, including 401(k)s. Launched in February, the company partners with insurance brokers—brokers pay monthly fees and the platform is free for employers—rather than trying to replace brokers. Its product set includes HR functionality from onboarding to retirement planning, private benefit exchanges that sync with existing plans, an employee incentivization system tied to fitness device data, and a concierge service that helps file claims, compare prescriptions and schedule appointments. The company reports a customer base "well into the triple digits," membership doubled over the prior six weeks, and revenue doubled quarter-over-quarter over the last six months. With new capital, Maxwell plans to invest heavily in customer service and to ramp up its sales and engineering teams. Maxwell Health operates a no-cost benefits-management platform for businesses that centralizes enrollment and administration for medical, dental, vision, life, disability, COBRA, HRA/HSA, FSA and 401(k). The platform gives employees a broader selection of insurance plans, advice on which to choose, and a portal to manage existing plans; employers get a dashboard to track hiring, employee engagement and company spending. Maxwell earns commissions on insurance plans chosen through the service. The company has dozens of businesses on board and is licensed to serve employers in 24 states. It launched in February and offers a concierge service that handles bills, insurance disputes and medical appointments, plus a wellness incentives program using fitness devices and points redeemable for rewards. Planned product additions include nurse on-call services and tracking/management for nutrition, sleep and stress. CEO and co-founder Veer Gidwaney said the new funding will be used to add features, increase outreach and build distribution.

Total raised

$56M

Funding rounds

4

Latest round

Series C

Latest activity

Mar 2016