Starship raises $7 million
Starship, the NY-based startup offering a “modern, mobile health savings account,” has raised $7 million in a Series A round led by Valar Ventures, with participation from Broadhaven, Clocktower, Third Prime, and 500 Startups, bringing its total funding to date to ~$11 million.
Founded in 2016, Starship provides an “experience-driven” healthcare banking platform for health savings accounts (HSAs). Anyone with an eligible health plan can install the Starship app on their iOS or Android phone to save, spend and invest their funds.
On-demand delivery platform Postmates was the first to partner with Starship to unveil health savings accounts to its fleet of “350,000 workers nationwide” to increase savings through the pre-tax vehicle, reducing medical expenses over time.
“We’re seeing incredible, disruptive companies shaking up the fintech space. Health savings accounts are an important piece of that puzzle, and Starship’s individual-centered approach is both unique and primed to disrupt the industry.” – James Fitzgerald, Valar Ventures.
“As the way we make a living has evolved, the need to make the most of your health dollars has only gotten greater. Starship is excited to address this changing landscape with these great partners and additional funding. Healthcare affordability is a personal mission for me. I know how crippling medical debt can be. I’ve seen it first-hand – it’s affected my family. There is no silver bullet to fixing the healthcare industry, but the Starship app at least gives people a chance to make healthcare expenses more manageable.” – Sean Engelking, Starship CEO and cofounder.
