Vitable Health acquires Liferaft

Vitable Health has acquired LifeRaft , a technology-driven ICHRA provider.

Founded in 2020 by Nimish Shukla and Ian Blumenfeld, Liferaft has partnered with brokers and employers to build flexible, compliant HRA programs. Its team has shrunk by 19% over the past six months, with 13 employees currently listed on LinkedIn. The company raised $3.5 million in a seed round in December 2020 from three investors.

Vitable Health has acquired Liferaft to become the first national platform offering fully integrated ICHRA and Direct Primary Care, delivering affordable, admin-free health benefits to small businesses across the country. Founded in 2019, Vitable has raised $25 million from investors including First Round Capital, Y Combinator, and the SoftBank Opportunity Fund.