# Health IQ Insurance Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/health-iq-insurance-services

- Industry: Insurance
- Headquarters: Plano, US
- Website: www.healthiq.com
- Total disclosed funding: $95M
- Latest round: Series E (May 8, 2019)
- Investors on record: 12

## About

Health IQ Insurance Services, Inc. is a U.S.-based company specializing in innovative health insurance solutions that reward health-conscious individuals for leading healthier lifestyles.Health IQ Insurance Services, Inc. was founded in 2014 in Plano, US. The company focuses on providing unique insurance plans that reward individuals based on their healthy choices. The founders, Gaurav Suri and Munjal Shah, have previously established other ventures. As of August 30, 2023, the company has raised a total of USD 55.00 mn in funding, with its most recent funding round being Series E, which included investors such as Andreessen Horowitz and Aquiline Capital Partners. The company has completed five deals to date and has a current valuation of USD 380.595 mn.Health IQ specializes in offering innovative health insurance solutions tailored to health-conscious individuals. The company's core product is a unique insurance plan that incentivizes individuals for maintaining a nutritious diet, exercising regularly, and engaging in preventive health measures. These offerings aim to lower premium costs for members who prioritize their health, effectively addressing the financial burden associated with traditional health insurance. Health IQ caters to individuals and families across the United States and also provides group insurance solutions for corporate clients. Health IQ generates revenue through a model that incorporates both individual and group insurance plans, emphasizing a B2C and B2B approach. Customers enroll in health insurance plans based on lifestyle assessments that quantify their health status, potentially leading to reduced premium costs. The revenue model includes monthly subscriptions for individual plans, while corporate partnerships provide customized insurance offerings for employee wellness programs. The flagship product encourages members to engage with wellness activities by linking health behavior to insurance benefits, directly addressing healthcare financial implications for clients and their families.In August 2023, Health IQ Insurance Services, Inc. filed for Chapter 7 bankruptcy protection, which significantly impacts its future growth plans. The company had intended to utilize recent funding to explore new product designs and targeted expansion into new markets, but the bankruptcy filing indicates a critical restructuring phase. It is unclear how these initiatives will proceed in light of the current financial challenges.

## Funding rounds

- Series E, May 8, 2019, $55M — Greenspring Associates, Aquiline Capital Partners, Andreessen Horowitz, Gaingels, Hanwha Asset Management
- Series D, Nov 15, 2017, $35M — CRV, Foundation Capital, First Round Capital, Andreessen Horowitz
- Seed, Dec 15, 2014, $5.5M — CRV, Menlo Ventures, Western Technology Investment, Greylock Partners, First Round Capital, Rock Health

## Investors

- CRV (https://capitalatlas.ai/funds/crv) — Seed, Series D
- Menlo Ventures (https://capitalatlas.ai/funds/menlo-ventures) — Seed
- Western Technology Investment (https://capitalatlas.ai/funds/western-technology-investment) — Seed
- Greylock Partners (https://capitalatlas.ai/funds/greylock-partners) — Seed
- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Seed, Series D
- Rock Health (https://capitalatlas.ai/funds/rock-health) — Seed
- Foundation Capital (https://capitalatlas.ai/funds/foundation-capital) — Series D
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series D, Series E
- Greenspring Associates (https://capitalatlas.ai/funds/greenspring-associates) — Series E
- Aquiline Capital Partners (https://capitalatlas.ai/funds/aquiline-capital-partners) — Series E
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series E
- Hanwha Asset Management (https://capitalatlas.ai/funds/hanwha-asset-management) — Series E