Tango Health offers a flagship HSA management software and services platform that helps employers, partners and financial institutions drive HSA adoption, compliance and administration across entire employee populations. The company is integrated with five of the Top 10 HSA custodians, which together hold more than 2.5 million HSAs (about 33% of the market). Tango reports operating metrics including an average 40% higher HSA adoption, HSA open rates above industry norms, and payroll contribution dollars twice the industry average, yielding over $200,000 in savings per 1,000 employees per year. In 2012 Tango grew annual recurring revenue by over 800% and renewed 100% of its customers for 2013. The company plans to continue aggressive top-line growth through customer acquisition and broadening its partner base while expanding resources to support that growth. Tango Health offers web-based Health Savings Account (HSA) management software and services designed to serve an employer’s entire population of HSA-eligible employees. Its flagship solution aims to maximize tax savings and employee participation while providing employers visibility and control over HSA administration. Tango sells directly to employers and partners with custodial banks, brokers, consultants and insurance carriers, and has completed integrations with three health insurance carriers and more than 45% of debit/credit cards in circulation. The company reports sustained average HSA account open rates of 99% across its portfolio and was selected by Insperity to serve approximately 100,000 worksite employees. Tango plans to use new funding to increase marketing and sales, expand product development into adjacent markets, and support its rapidly expanding base of users. The company closed a $4 million Series B, reflecting investor support as it scales. Tango Health provides a web-based Health Savings Account (HSA) management service that helps employers and employees set up, manage and fund HSA accounts. The company partners with financial institutions, benefits brokers, consultants and carriers to enhance offerings for both employers and employees. Tango raised over $3m in Series A equity capital to support growth. The funds will be used to accelerate a nationwide rollout of its HSA management service. Tango Health was co-founded in 2008 by Duncan Van Dusen (CEO) and Todd Praisner (President) and is based in Austin, TX.

Total raised

$8M

Funding rounds

3

Latest round

Series B

Latest activity

Jan 2013