What is Connecture?
Founded in 1999 and headquartered in Milwaukee, Wisconsin, Connecture specializes in offering a comprehensive network of health plan data. This platform serves to connect carriers, FMOs, and brokers, streamlining operations within the healthcare insurance ecosystem. The company's core offering facilitates efficient data exchange and management, crucial for navigating the complexities of the health insurance market. Connecture's long-standing presence and focus on IT services have positioned it as a key player in digitizing and optimizing health plan administration.
How much funding has Connecture raised?
Connecture has raised a total of $234.7M across 10 funding rounds:
Series C
$2.9M
Other Financing Round
$6M
Series D
$3.5M
Private Equity
$19.7M
Stock Offering
$53.1M
Private Equity
$52M
Series A
$52M
Private Equity
$17.5M
Series C (2002): $2.9M supported by WebMD, LiveOak Equity Partners, and SSM Partners
Other Financing Round (2004): $6M featuring Chrysalix Venture Capital, LiveOak Equity Partners, and SSM Partners
Series D (2005): $3.5M backed by SSM Partners, Chrysalix Venture Capital, and LiveOak Equity Partners
Private Equity (2012): $19.7M with participation from Chrysalis Ventures and Great Point Partners, LLC
Stock Issuance/Offering (2014): $53.1M, investors not publicly disclosed
Private Equity (2016): $52M supported by Francisco Partners
Series A (2016): $52M featuring Chrysalis Ventures and Francisco Partners
Private Equity (2017): $17.5M, investors not publicly disclosed
Key Investors in Connecture
Francisco Partners
Francisco Partners is a global investment firm specializing in technology and technology-enabled businesses, providing capital for carveouts, growth financings, and complex transactions across software, internet, and healthcare IT sectors.
Chrysalix Venture Capital
Chrysalix Venture Capital is a global fund focused on investing in resource-intensive industries and high-value industrial innovation, partnering with founders to accelerate commercialization.
SSM Partners
SSM Partners is a private equity firm dedicated to investing in strong teams and effective leadership, providing growth capital to enhance operational effectiveness and potential.
What's next for Connecture?
The substantial enterprise-level backing and recent strategic investment indicate a strong trajectory for Connecture. This capital infusion is likely to be directed towards enhancing its technology infrastructure, expanding its data analytics capabilities, and potentially broadening its market reach. As the healthcare industry continues its digital transformation, Connecture is well-positioned to leverage this financing to further solidify its role as a critical technology partner for health plans and intermediaries, driving efficiency and improving access to vital health insurance information.
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