Venteur raises $20 million

Venteur, a health startup helping companies provide personalized health insurance options to their employees, has raised $20 million in Series A funding led by Informed Ventures and American Family Ventures, with participation from Morgan Health, Ingeborg Investments, Catalyst by Wellstar, Plug and Play, Revelry Venture Partners, Houghton Street Ventures, and Techstars.

Founded in 2021, the California-based startup enables businesses to give their employees greater control over their health care by offering an Individual Coverage Health Reimbursement Arrangement (ICHRA). Using Venteur’s platform, employers provide pre-tax dollars to buy health insurance. Employees receive a digital wallet and are invited to Venteur’s marketplace to shop for health insurance coverage. The marketplace is powered by “proprietary AI” decision support tools, which leverage “30 years of medical claims data” to make personalized suggestions on the best health plans for each employee.

To date, Venteur has helped 30,000 employees at 600 businesses choose care options.

“Venteur is revolutionizing how businesses provide health benefits, making personalized health insurance more accessible and sustainable through ICHRA. Their technology-driven approach empowers companies and employees alike, addressing a critical need in today’s evolving workforce. We’re proud to support Venteur as they scale their impact and reshape the future of employer-sponsored healthcare.” – Amanda Joseph of American Family Ventures.