What is Picwell?
Founded in 2016, Picwell leverages proprietary analytics to distill complex health plan information into easily understandable, objective scores. This empowers consumers to make confident choices regarding their annual health insurance coverage. The company's API delivers individual plan scores and prioritization data directly to the enrollment sites of national U.S. brokers and insurance carriers, streamlining the decision-making process in a traditionally opaque market.
How much funding has Picwell raised?
Picwell has raised a total of $11.3M across 3 funding rounds:
Series A
$7M
Series B
$4M
Debt
$350K
Series A (2016): $7M with participation from BlueCross BlueShield Venture Partners and Sandbox Industries
Series B (2018): $4M led by BlueCross BlueShield Venture Partners, Aflac, and MassMutual Ventures
Debt (2020): $350K supported by PPP
Key Investors in Picwell
BlueCross BlueShield Venture Partners
BlueCross BlueShield Venture Partners is a venture capital firm that invests in emerging companies of strategic relevance to Blue Cross and Blue Shield Plans, managing over $500 million in capital across three funds.
Sandbox Industries
Sandbox Industries is a venture capital firm founded in 2011, investing in consumer technology, food, agriculture, and health care startups, with a focus on the intersection of entrepreneurial thinking and large corporate enterprises.
MassMutual Ventures
MassMutual Ventures is a venture capital investment firm established in 2014, primarily investing in cybersecurity, healthtech, and enterprise SaaS solutions.
What's next for Picwell?
With the recent injection of major strategic capital, Picwell is poised for significant expansion. The company is likely to focus on enhancing its analytical engine, broadening its partnerships with insurance carriers and brokers, and potentially exploring new market segments within the health insurance ecosystem. This strategic investment signals a strong belief in Picwell's model to improve consumer understanding and choice in health plan selection, positioning the company for sustained growth and market leadership.
See full Picwell company page
