Healthcare Technology Featured Article

July 21, 2015

Limelight Health Receives $3 Million to Enhance Mobile Health Insurance Platform

Limelight Health, a company specializing in mobile solutions for the healthcare industry, has received a $3 million infusion in the form of Series A funding. Limelight will use the funds to expand its sales and engineering teams and also plans to make a number of product enhancements to its SaaS technology platform.

The company’s QuotePad platform offers mobile, data-driven quoting and modeling for health insurance professionals. The solution lets them easily quote and compare employee health insurance benefits and information via mobile devices, providing portability and flexibility. The result is that insurance workers can get rid of their redundant, paper-based processes while benefiting from real-time analytics as well as the ability to immediately respond to client quote requests. They can also model a number of interactive price plan scenarios with the goal of closing on new business quickly and efficiently.

"With $375 billion wasted each year on billing and health insurance paperwork, there is tremendous opportunity for the right technology solution to reduce unnecessary administrative tasks and inefficiencies in workflow," said Jason T. Andrew, CEO and co-founder, Limelight Health. "MassMutual Ventures and AXA Strategic Ventures, as partners within the insurance industry, share our vision for changing the way insurance does business, focusing our valuable resources on people, not paperwork."

MassMutual and AXA Strategic Ventures were the main investors in the funding round, along with LaunchPad Digital Health. In addition to enhancing its platform and growing its staff, Limelight plans to use the financing to expand its national distribution efforts.

Additional benefits of the Limelight solution include the ability to import and export health plan and contribution selections as well as and API and open integration with industry software applications. These include benefits administration, payroll, account and CRM apps. The platform also features an all-in-one easy to use online dashboard as well as direct-source data, making Limelight a central hub for rate and benefit data within the U.S.

"The SME market represents a tremendous growth opportunity for AXA in the U.S. and we have been developing new solutions to empower insurance professionals to grow their business and better serve customers through the use of multi-interactive technology," said Manish Agarwal, general partner, AXA Strategic Ventures. "Limelight shares our vision for serving this segment of the market with technology that redefines the customer experience while bringing more transparency to business processes and we look forward to working with them to evolve the way that employee benefits are offered and understood."

Edited by Dominick Sorrentino

FREE eNewsletter

Click here to receive your targeted Healthcare Technology Community eNewsletter.
[Subscribe Now]