First Dollar
Latest round
- Series A
Last raised
- Jan 2022
Total raised
- $19M
Investors
- 4
About First Dollar
Founded in 2019 and headquartered in Austin, US, First Dollar, Inc. specializes in health spending benefits management. The company was co-founded by Colin Anawaty and Jason Bornhorst, who has a background in establishing technology solutions in the healthcare sector.First Dollar provides a suite of software and APIs designed to enable organizations, including third-party administrators (TPAs) and financial institutions, to manage health spending benefits effectively. The core offerings include the Health Wallet—a user-friendly application and card that facilitate the utilization of health benefits, along with a range of tools for administering stipends, reimbursement programs, and pre-tax accounts. These products aim to simplify the administrative processes associated with health benefit management, allowing employers and employees to save tax-free funds for qualified expenses and directing spend programs to close gaps in member healthcare.First Dollar generates revenue through partnerships with TPAs, financial institutions, and health plans, leveraging a transaction structure that typically involves subscription fees for access to its software solutions and APIs. The firm offers its clients the ability to embed health spending benefits directly into their platforms, which can enhance customer retention and promote the adoption of health savings accounts (HSAs). While specific pricing structures for individual products are not publicly disclosed, the company’s flagship offerings, including the Health Wallet and Benefit Suite, are integral to its revenue model.000 mn will be utilized to enhance the First Dollar Health Wallet platform and further strengthen the company's technology-first approach. The company plans to introduce new features and products to streamline health benefit management, although specific release dates have not been disclosed. Additionally, First Dollar aims to expand its market presence, targeting new geographic regions and sectors within healthcare and employee benefits by the end of 2023.
Who invested in First Dollar
4 investors across 2 rounds
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Questions about First Dollar
Who invested in First Dollar?
First Dollar has 4 investors on record across 2 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has First Dollar raised?
First Dollar has raised 2 venture rounds. Sign up free to see how much each round raised and the total.
When did First Dollar last raise money?
First Dollar's most recent round on record is a Series A, in Jan 2022.
What does First Dollar do?
Founded in 2019 and headquartered in Austin, US, First Dollar, Inc.
Where is First Dollar headquartered?
First Dollar is headquartered in Austin, US.
Which VCs invest in companies like First Dollar?
Among active investors with capital left to deploy, Radical Ventures, Ribbit Capital, TrueBridge Capital Partners and Tribe Capital back insurance companies at First Dollar's stage. Their profiles are linked below.
VCs backing insurance startups at Series A
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