XP Health offers a digital-first, AI-driven platform that provides employees eye exams and discounted eyewear as a corporate benefit. The company sources frames and lenses directly from factories in Asia and says it does not mark up those products, instead generating revenue through recurring membership fees. Its platform uses facial-recognition technology to recommend frames that fit a member’s style and face shape, and members can save as much as 69% versus retail — in many cases paying $0 for frames and an eye exam. XP Health shifted to this digital-first model during the pandemic and has expanded its business customer roster from 30 to over 3,000 in the last two years, including customers like DocuSign, Navistar, Chegg, and Sequoia Consulting. It has also formed partnerships with insurance providers such as Guardian Life Insurance. XP Health positions itself as a corporate benefit rather than a traditional insurance company and competes with direct-to-consumer eyewear brands and incumbent vision insurers. XP Health provides a digital vision benefits platform focused on eye care and eyewear that can be used to enhance or replace existing vision plans. The platform leverages artificial intelligence, augmented reality and customer-centric design to create the member experience. Led by CEO Antonio Moraes, the company partners with strategic insurers and employers, including Guardian Life Insurance and The Health Benefit Alliance, and counts customers such as Docusign, Chegg, Navistar and Sequoia Consulting. XP Health now services 1,500 customers and covers more than 250,000 people. In September 2022 the company raised $17.1M in a Series A and intends to use the funds to strengthen the platform’s functionality. The company is based in San Carlos, California. XP Health is a Palo Alto, CA-based artificial intelligence-powered vision benefits platform serving employees and their families. The company offers frames from leading designers including Tom Ford, Ray-Ban, Armani, Gucci, and Coach. Its proprietary deep learning model uses facial-recognition technology to recommend the best frames based on facial dimensions with 98% accuracy. Founded in 2019 by Antonio Moraes and James Wong, XP Health is working with employers such as Chegg, Zenefits, and Sequoia Consulting Group. The company raised $5M in seed funding and plans to use the proceeds to further develop its AI technology and scale its R&D and engineering teams. The product mix and partnerships position the company to expand benefits offerings to corporate customers and their dependents.

Total raised

$55M

Funding rounds

3

Latest round

Series B

Latest activity

Sep 2024