Medefy raises $10 million

Medefy, a healthcare benefits navigation platform, has raised $10 million in Series A funding led by Mercury Fund with participation from Advantage Capital.

Launched in 2018, Medefy’s platform helps employees identify “the best quality care at reasonable cost” through personalized, proactive guidance. The platform connects members with a variety of digital tools as well as live, in-app benefits experts with an average response time of under 60-seconds, 24/7 — equipped to answer benefits-related questions and schedule care.

Medefy serves over 1,500 employers.

“There is an inherently human element to healthcare, and it is more important than ever to connect employees with real human experts as they determine how to make the best, most cost-effective healthcare decisions – decisions which greatly impact themselves and their employers. Medefy’s member-first, on-demand platform delivers significant healthcare cost savings to patients and the businesses administering their health insurance by being with the employee, live, while they’re in the process of making a healthcare decision. We are immensely thankful to our investors and partners for supporting us in this mission and look forward to continuing to scale our platform.” – Matt Scovil, co-founder and CEO of Medefy.

“Amid rising healthcare costs and increased fragmentation among health benefits plans, enterprises and their individual employees still face the challenge of properly navigating the nuances of these massive plans. All too often, employer-sponsored healthcare plans become a ‘blank check’ for employees who lack the tools to evaluate their options, creating a considerable amount of risk and downside for both individuals and employers. Medefy is providing a centralized benefits navigation solution that delivers expert guidance, reduces costs, and improves price transparency.” – Heath Bulter, venture partner at Mercury.