What is SimplyInsured?
SimplyInsured operates as a comprehensive digital marketplace designed to streamline the procurement of health, dental, and vision insurance for small businesses. By providing an unbiased, centralized platform, the company eliminates the friction typically associated with traditional insurance carriers. Their service suite includes instant quoting, automated payroll integration, and dedicated support, effectively positioning the firm as a critical infrastructure layer for small-to-medium enterprises seeking cost-effective and compliant health benefits solutions.
How much funding has SimplyInsured raised?
SimplyInsured has raised a total of $8.4M across 3 funding rounds:
Angel/Seed
$750K
Angel/Seed
$1.8M
Series A
$5.9M
Angel/Seed (2013): $750K with participation from Y Combinator and Altair Capital
Angel/Seed (2015): $1.8M led by AltaIR Capital, Altair ventures, and STARLING VENTURES
Series A (2015): $5.9M supported by Altair.VC, Corazon Capital, Bessemer Venture Partners, and Polaris Partners
Key Investors in SimplyInsured
Y Combinator
Established in 2005 and located in Mountain View, California, Y Combinator provides seed funding for startup businesses and to gauge investors for businesses.
Altair.VC
AltaIR Capital is an international early-stage venture investment company that focuses on backing promising startups with disruptive ideas across various sectors, including Productivity Tools, HR Tech, FinTech, InsurTech, and Digital Health.
Bessemer Venture Partners
Bessemer Venture Partners is a prominent venture capital firm with a long history of investing in transformative technology and healthcare companies across global markets.
What's next for SimplyInsured?
With the recent influx of capital, SimplyInsured is well-positioned to accelerate its product roadmap and expand its market footprint. The strategic focus will likely center on deepening its integration with payroll providers and enhancing its automated underwriting capabilities to further reduce administrative overhead for employers. As the InsurTech sector continues to mature, SimplyInsured is poised to leverage its existing data assets to offer more personalized, value-based insurance products, potentially moving into broader employee benefit management services to solidify its competitive advantage in the enterprise-level market.
See full SimplyInsured company page
