What is SimplyInsured?
SimplyInsured operates as a specialized digital marketplace designed to simplify the procurement of medical, dental, and vision insurance for small businesses. By providing an unbiased, automated platform, the company enables employers to compare plans from major carriers, secure instant quotes, and manage administrative tasks such as payroll deductions. This market position is critical, as it addresses the historical friction and administrative burden typically associated with small business health benefits. Through its focus on transparency and efficiency, SimplyInsured has established itself as a vital intermediary in the healthcare benefits ecosystem, leveraging technology to reduce costs and improve accessibility for underserved business segments.
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 Altair Capital and Y Combinator
Angel/Seed (2015): $1.8M led by STARLING VENTURES, AltaIR Capital, and Altair ventures
Series A (2015): $5.9M supported by Bessemer Venture Partners, Corazon Capital, Altair.VC, and Polaris Partners
Key Investors in SimplyInsured
Bessemer Venture Partners
A prominent venture capital firm with a long history of supporting transformative technology companies across various global markets.
AltaIR Capital
An international early-stage venture investment firm focused on disruptive ideas in FinTech, InsurTech, and Digital Health sectors.
Y Combinator
A premier startup accelerator providing seed funding and mentorship to high-growth companies since 2005.
What's next for SimplyInsured?
Looking ahead, the strategic deployment of the $5.9M capital is expected to accelerate SimplyInsured's product development and market penetration. As the company transitions into a more mature lifecycle stage, the focus will likely shift toward enhancing its automated infrastructure and expanding its carrier partnerships to offer even more competitive rates. The firm is well-positioned to capitalize on the ongoing digital transformation of the insurance industry, potentially exploring new verticals within the HR Tech and FinTech sectors. By maintaining its commitment to user-centric design and operational excellence, SimplyInsured is poised to further disrupt traditional insurance brokerage models and capture a larger share of the small business benefits market.
See full SimplyInsured company page
