# PlanGap

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/plangap

- Industry: Insurance
- Headquarters: Atlanta, US
- Website: www.plangap.com
- Total disclosed funding: $9.4M
- Latest round: Series A (Dec 13, 2021)
- Investors on record: 1

## About

PlanGap is an insurance company focused on innovative solutions to protect Social Security benefits for American retirees. They provide specialized products aimed at addressing retirement income risks.PlanGap was founded in 2017 in Atlanta, US, with the goal of offering unique insurance products that address the concerns surrounding Social Security benefits. The company has not undergone any notable pivots and does not have known subsidiaries. The founder's history is not specified, and there is no indication of prior ventures. PlanGap has participated in one investment round, raising USD 9.4 mn in Series A funding on December 13, 2021, led by Cultivation Capital. This round reflects the total amount raised by the company.PlanGap specializes in providing innovative insurance products and solutions aimed at addressing the concerns surrounding Social Security benefits for American retirees. Their core offerings include a suite of Social Security protection products designed to mitigate the risk of benefit reductions due to government actions. These solutions can be implemented as standalone policies or as value-added riders integrated into existing life or annuity products. The company aims to empower insurance carriers and reinsurers with end-to-end solutions, from actuarial design to claims management. PlanGap’s clientele includes insurance companies and financial institutions across the United States, helping them offer tailored retirement solutions to their customers. As the need for retirement security becomes increasingly pressing, PlanGap's products are positioned to serve the North American market, specifically targeting the concerns of retirees regarding the potential diminishment of Social Security.PlanGap generates revenue through partnerships with insurance carriers and by providing comprehensive solutions targeting the retirement planning sector. The revenue model is structured around B2B transactions, where insurance companies integrate PlanGap's Social Security protection solutions into their own offerings. This includes consulting services in product creation and pricing, along with access to the PlanGap Advisory System, which keeps carriers updated on Social Security changes and their implications. Transactions may involve subscription models for continued access to data insights and analytics, as well as fees associated with product development and claims management platforms. PlanGap's flagship offering includes their pioneering Social Security strategy that provides financial bonuses contingent on any reductions in Social Security benefits, creating a unique value proposition in the insurance market.In December 2021, PlanGap raised USD 9.4 mn in Series A funding led by new investor Cultivation Capital, with participation from other unspecified and individual investors. The company plans to utilize this funding to advance technology and product development for PlanGap® Social Security protection and other retirement income risks. Specific details about upcoming products or market expansions have not been disclosed.

## Funding rounds

- Series A, Dec 13, 2021, $9.4M — Cultivation Capital

## Investors

- Cultivation Capital (https://capitalatlas.ai/funds/cultivation-capital) — Series A