# LifeRaft Insurances Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/liferaft-insurances-services

- Industry: Insurance
- Headquarters: West Hollywood, US
- Website: www.liferaft.co
- Total disclosed funding: $3.5M
- Latest round: Seed (Dec 22, 2020)
- Investors on record: 2

## About

LifeRaft Insurances Services, LLC, based in the US, specializes in health benefits solutions, particularly in health reimbursement arrangements (HRAs), catering to a wide range of clients including employers and health companies.LifeRaft Insurances Services, LLC was founded in 2020 in West Hollywood, US, to provide health benefits solutions. The company has not undergone any major pivots or changes in strategy since its inception. Co-founders Ian Blumenfeld and Nimish Shukla have been integral to its operations, with Ian Blumenfeld also serving as CEO. LifeRaft has participated in 2 deals, and in May 2025, it was acquired for USD 3.50 mn in a Seed round led by investors including Costanoa Ventures and XYZ Ventures. This funding has allowed LifeRaft to enhance its client offerings and health benefit solutions.LifeRaft offers a comprehensive suite of health benefits solutions primarily focusing on Health Reimbursement Arrangements (HRAs) tailored for a diverse clientele, including employers, brokers, digital health companies, and Professional Employer Organizations (PEOs). Their core products include Integrated HRAs (ICHRA), Qualified Small Employer HRAs (QSEHRA), and General HRAs (GCHRA), alongside specialized offerings for fertility and mental health care. LifeRaft's technology-enabled administration platform allows clients to customize benefits programs that cater to specific needs, enhancing flexibility and cost-effectiveness in health insurance management. The company operates across all 50 U.S. states and Washington, D.C., providing services that address the complexities of modern health insurance while meeting the evolving demands of businesses and their employees.LifeRaft generates revenue through a transactional model that involves providing tailored health benefits solutions to its client base, primarily through subscription services. Clients engage with LifeRaft to implement customized HRAs, which can encompass various elements such as fertility benefits and specialty care financing. The firm offers off-the-shelf products and white-labeled solutions that allow partners to brand and integrate services seamlessly into their existing ecosystems. Pricing structures are determined based on the specific solutions and customization levels required by each client, ensuring that LifeRaft's offerings align with the diverse needs of the market. By leveraging technology, LifeRaft aims to streamline the administration of health benefits, thus reducing the administrative burden on organizations while facilitating a more cost-effective approach to employee health management.In May 2025, LifeRaft Insurances Services, LLC was acquired by Vitable, Inc., allowing Vitable to provide integrated ICHRA and Direct Primary Care services to small businesses. This acquisition will enable significant growth in the small business sector by offering low-cost health benefits. Future plans include launching new products tailored to enhance health benefit solutions and expanding into new geographic markets, though specific regions and products have yet to be detailed. The latest funding will support these initiatives and enhance the integration of services.

## Funding rounds

- Seed, Dec 22, 2020, $3.5M — Costanoa Ventures, XYZ Ventures

## Investors

- Costanoa Ventures (https://capitalatlas.ai/funds/costanoa-ventures) — Seed
- XYZ Ventures (https://capitalatlas.ai/funds/xyz-ventures) — Seed