What is Connecture?
Founded in 1999 and headquartered in Milwaukee, Wisconsin, Connecture serves as a critical nexus for the healthcare industry. By providing a robust network that bridges the gap between health plans, Field Marketing Organizations (FMOs), and brokers, the company facilitates the seamless exchange of essential data. This infrastructure is vital for modernizing the administrative and operational workflows that define the current healthcare landscape. As a veteran player in the IT services space, Connecture has evolved from its early-stage roots into a sophisticated provider of digital solutions, enabling stakeholders to manage complex enrollment and plan management processes with greater efficiency and transparency.
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 LiveOak Equity Partners, WebMD, and SSM Partners
Other Financing Round (2004): $6M featuring SSM Partners, Chrysalix Venture Capital, and LiveOak Equity Partners
Series D (2005): $3.5M backed by Chrysalix Venture Capital, LiveOak Equity Partners, and SSM Partners
Private Equity (2012): $19.7M with participation from Great Point Partners, LLC and Chrysalis Ventures
Stock Issuance/Offering (2014): $53.1M, investors not publicly disclosed
Private Equity (2016): $52M supported by Francisco Partners
Series A (2016): $52M featuring Francisco Partners and Chrysalis Ventures
Private Equity (2017): $17.5M, investors not publicly disclosed
Key Investors in Connecture
Francisco Partners
A global investment firm specializing in private equity and credit for technology-enabled businesses, providing strategic and operational support to growth-stage companies.
Great Point Partners, LLC
A dedicated healthcare investment firm that provides growth equity and management buyout financing to companies across the biopharmaceutical and IT-enabled healthcare sectors.
Chrysalis Ventures
A Louisville-based investment firm focused on partnering with technology-enabled businesses in underserved markets to drive organic growth and long-term value.
What's next for Connecture?
Looking ahead, Connecture is positioned to leverage its significant capital reserves to further refine its technological offerings and deepen its market penetration. The transition from its foundational growth phases to its current enterprise-level maturity suggests a strategic focus on product innovation and potential market consolidation. By maintaining strong relationships with its historical backers and continuing to optimize its data-driven platform, the company is well-equipped to address the increasing demand for interoperability and digital transformation within the healthcare sector. Future initiatives will likely center on enhancing the scalability of its core services to meet the evolving regulatory and operational requirements of its diverse client base.
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