SureCo raises $23 million

SureCo , an administrator specializing in Individual Coverage Health Reimbursement Arrangements (ICHRA) for large employers, has raised $23 million in a Series A round led by Health Velocity Capital, with participation from Kaiser Permanente Ventures.

The Santa Ana–based company offers an enrollment platform that enables employers with 200 or more employees to allocate pre-tax dollars for workers to purchase individual health plans from major carriers. The new funding will support technology expansion, deeper carrier integrations, and the growth of SureCo’s service team.

The round reflects growing interest in ICHRA as an alternative to traditional group health insurance, amid rising costs and demand for greater flexibility. Nearly half of large employers are considering the model for 2026, as it offers predictable costs and employee choice.

Health Velocity Capital and Kaiser Permanente Ventures said they view ICHRA as a strategic growth area for the health insurance market, citing SureCo’s technology-driven approach as a differentiator in serving large groups.