• Redfin

  Participated · Equity · Dec 2014

  Redfin is an online-centric real estate brokerage that runs its own full brokerage operations rather than relying solely on referrals. The company hires agents on salary (not commission) and integrates local MLS data as it launches in new markets. In markets where regulations permit, Redfin refunds up to half of the buyer’s agent fees. Redfin is currently active in 48 U.S. markets, up from 22 two years earlier, and its agents have closed over $20 billion in home sales. The company completed its first acquisition earlier this year when it bought Walk Score and has indicated it may pursue more small acquisitions. Management says it will use new capital to expand into additional markets and accelerate local market-share growth. Redfin operates a technology-driven real estate brokerage featuring map-based search and tools that streamline home transactions. Its platform includes tour-scheduling, an online deal room and targeted digital campaigns for listings. Agents receive bonuses based on customer satisfaction rather than solely on the sale. The company intends to use the new capital to develop technology to further improve the home buying and selling process. Redfin currently serves 22 U.S. markets and has closed more than $13 billion in home sales. The company is led by CEO Glenn Kelman and had previously raised $45.7M in venture capital. Redfin operates an online real-estate service aimed at reducing inefficiencies and transaction costs for home buyers and sellers. Since launching in 2006, its users have purchased or sold more than $6 billion in homes through the service. The company reports an average savings of more than $7,000 per transaction and says it has saved users $85 million in aggregate. Redfin cites high user satisfaction (97% of past users would recommend the site) and notes most users are first-time buyers or sellers, with the fastest-growing segment being customers over 45. The company is continuing to raise capital to expand and push its effort to "reinvent the real estate market." Its recent financing activity has materially increased its total capital raised. Redfin operates an online real estate marketplace and brokerage that combines rich MLS data, a highly rated iPhone app, and in-person agent-led home viewings booked online. Buyers receive a refund of 50% of Redfin's commission at closing; sellers pay a flat $5,000–$7,000 fee (with a $1,000 discount if also buying through Redfin). The company says customers appreciate the service and has closed more than $2 billion in home sales since launching in February 2006. Redfin reported profitability over the summer and has exceeded a $20 million revenue run rate (up from $15 million the prior summer), and it has roughly quadrupled in size since 2008. The service is available across multiple U.S. markets including Boston, Chicago, Seattle, Washington DC, Baltimore, Long Island/Westchester, and most of California (including the Bay Area, Southern California, and Sacramento). Given the roughly $1 trillion U.S. home market, the article frames significant room for growth. Redfin is a Seattle-based real estate website that combines MLS listing information and historical sales data into a single interactive map. The company represents buyers through a call center of licensed real estate professionals and reimburses two-thirds of the buy-side real estate fees at closing, with the average home buyer saving around $10,000. Redfin also represents sellers and aims to remove agents from at least half of home sales. Since a May profile on 60 Minutes, the company has completed more than $350 million in real estate transactions and has saved customers around $6 million in commissions. Its business model has prompted pushback from realtors trying to limit MLS access, block customer reviews, refuse Redfin offers, and in some cases vandalize signs.

• Maxwell Health

  Participated · Series B · Dec 2014

  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.

• Healthcare.com

  Led · Series A · Nov 2014

  HealthCare.com operates a digital, data-driven insurtech platform that matches individuals to a wide array of healthcare products using deep data assets and AI algorithms. The company develops and markets a portfolio of proprietary direct-to-consumer insurance and pharmacy plan products. It aims to simplify discovery, selection, purchase and use of health insurance and other healthcare-related products across every life stage. HealthCare.com has stated plans to expand its direct-to-consumer insurance and pharmacy initiatives and to accelerate development of its AI platform. The company was founded in 2014 and is headquartered in New York City and Miami, Florida. Recent financing activity reflects substantial capital support for its growth plans. HealthCare.com operates a digital healthcare platform that leverages deep data assets and AI algorithms to match individuals to a wide array of healthcare products, including proprietary insurance and pharmacy plans and customizable insurance bundles. The platform supports multi-product purchase options in a single transaction and emphasizes improving the end-to-end consumer healthcare experience. The company says it helped millions of people connect to a healthcare product and reported direct-to-consumer enrollments up 97% in 2021. HealthCare.com has grown its distributed workforce to more than 370 employees (a 130% increase since January 2021) and operates across more than 15 U.S. states plus Guatemala, Thailand, and the Netherlands. The company plans to accelerate investment in data science, product development, and engineering and to hire for several key roles as it scales. HealthCare.com operates a data-driven online shopping platform that enables American consumers to enroll in individual health insurance and Medicare plans. The company also develops and markets a portfolio of proprietary direct-to-consumer health and supplemental insurance products under the Pivot Health brand. It combines technology, engineering and data-science to streamline insurance shopping and product development. Founded in 2014 by Howard Yeh, Jeff Smedsrud and Jose Vargas, the business is focused on expanding its consumer experience solutions. HealthCare.com plans to use new capital to fund technology, engineering and data-science investments and to accelerate development and marketing of its proprietary insurance products. The company has raised over $27M in total capital to date. HealthCare.com is a Miami, FL-based search and comparison engine that helps consumers find and purchase personal health insurance plans. Led by CEO Jeff Smedsrud, the platform offers a selection including virtually all state-based exchange plans, federal exchange plans and many private, off-exchange plans. Consumers can compare costs and subsidies for free and buy insurance online, over the phone with a licensed advisor, or in person with a local agent. The company plans to use the Series A proceeds to continue building out its consumer interfaces and service offerings and to expand its reach in the online healthcare market. HealthCare.com completed a $7.5M Series A round in November 2014. HealthCare.com operates online tools that let consumers compare, customize and save money on health insurance plans. The company’s core product is a health insurance search and comparison platform that includes plan customization features. It plans to launch additional health insurance search and comparison tools and to offer private-label supplemental plans that fill coverage gaps caused by high deductibles. Management says the company will use new financing to expand operations and roll out these tools. The site also hosts a care provider directory with more than 1.2 million listing profiles. HealthCare.com is based in Miami, FL.

No current team members are available.