Stack Health raises $21 million

Stack Health , a Columbus startup offering an alternative to group health insurance, has closed a $21 million seed round led by 8VC, with participation from A*, Heartland Ventures, The O.H.I.O. Fund, and other investors.

Founded by the founder and former CEO of Beam Benefits Alex Frommeyer, Stack uses individual coverage health reimbursement arrangements (ICHRAs) to help businesses set an insurance amount and reimburse health care spending. Stack then helps employees compare and select individual plans.

In July, Principal announced a deal to acquire employee benefits company Beam Benefits.