Zipari raises $22.5 million in Series B
Zipari , a consumer experience platform built specifically for health insurance, has raised $22.5 million in a Series B funding round. Vertical Venture Partners, an early-stage venture capital firm investing in enterprise technology companies that target vertical markets, led the financing round, which included Health Velocity Capital, an investor in healthcare software and service innovators, Healthworx, the healthcare investment and innovation arm of CareFirst BlueCross BlueShield, and Horizon Healthcare Services, Inc. (Horizon), New Jersey’s oldest and largest health insurer.
The proceeds will be used to widen distribution channels, expand partner integrations, and scale the development of Zipari’s highly configurable product lines with focused investments in strategic innovations.
“We’re proud to have completed our Series B round, which will allow us to build on the momentum we’ve experienced over the past five years. Driven by demand for a solution that provides personalized member engagement for health insurance, and for a return on investment that maximizes the value of members using next-best actions to improve health and reduce operational expenses, Zipari now serves 18 health insurance carriers; more than 13 million members using Zipari products .” – Mark Nathan, CEO and Founder of Zipari.
In May, Zipari launched CX Engagement Hub, which provides payers with two key capabilities: (1) to attach a value to their cross-departmental goals for each member; and (2) to intelligently orchestrate and prioritize engagement via a consumer’s preferred communication channel. And in the past year, Zipari launched its Partner Network, which is aimed at helping health plans accelerate delivery of integrated customer experience (CX) and provide a certified portfolio of CX solutions. Both the CX Engagement Hub and the Partner Network will allow health plans to gain better insight into health plan member needs, sentiment, and behavior.
“In my experience, the tech startups that sell into specific vertical industries, such as healthcare or health insurance, are better at solving the considerable challenges facing their respective industry. Zipari’s product portfolio streamlines the health plans internal processes, which ultimately frees up resources to enable better, more personalized customer experience and care.” – David Schwab, Founder and Managing Director of Vertical Venture Partners.
“Too much of healthcare still relies on the telephone when increasingly individuals want to interact digitally. Zipari enables health plans to offer a digital solution to its members, providers, and brokers with a common underlying database that creates a seamless, more cost effective, and consumer-friendly experience. As investors with a passion for making our healthcare system more consumer friendly and cost effective, we are excited to be investing in Zipari’s growth.” – Health Velocity Capital Partner, Saurabh Bhansali.
