# Vericred

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

- Industry: Software
- Headquarters: New York, US
- Website: www.vericred.com
- Total disclosed funding: $28M
- Latest round: Series B (Mar 22, 2021)
- Investors on record: 7

## About

Vericred, Inc. specializes in delivering data management and connectivity solutions tailored for the health insurance market, improving operational efficiency and enhancing user experience for insurance brokers, employers, and members across the US.Vericred, Inc. is focused on providing data solutions for the health insurance sector. The company was founded in 2014 and is headquartered in New York, US. Its founders, Dan Langevin and Michael Levin, have a background in technology and health insurance. The company raised USD 22.7 mn in Series B funding on March 22, 2021, led by Aquiline Capital Partners, with participation from other investors such as Echo Health Ventures and Guardian Strategic Ventures. This was the company's fifth funding deal, bringing the total amount raised to USD 22.7 mn.Vericred, Inc. offers a suite of tailored data management solutions specifically designed for the health insurance and benefits industry. Its core products include IdeonEnroll, IdeonQuote, IdeonSelect, and IdeonEOI, all aimed at facilitating seamless data exchange and efficient enrollment processes. These solutions allow brokers, employers, and members to easily compare insurance carriers and plans, thereby enhancing the overall member experience with data-driven insights.Vericred, Inc. generates revenue primarily through subscription-based models and partnerships with various stakeholders in the health benefits ecosystem. Clients, including insurance carriers and brokers, engage with the company's services through tailored agreements that enable access to its API-powered solutions. This typically involves annual or monthly subscriptions granting users access to tools like IdeonEnroll and IdeonQuote. Strategic collaborations with firms such as Prudential and Healthee further enhance revenue opportunities by integrating technology into existing benefit offerings.Following the recent Series B funding of USD 22.7 mn, Vericred, Inc. plans to bolster its marketing and sales functions and expand its team, particularly in its New York and Omaha offices. The company aims to grow its participant community on its platform and is actively working on enhancing its product offerings. The funding will facilitate these initiatives and support the launch of additional products in the future. Vericred is also exploring opportunities to expand its market reach into new geographic regions, although specific locations and timelines for these expansions have yet to be disclosed.

## Funding rounds

- Series B, Mar 22, 2021, $23M — Clayton Associates, Aquiline Capital Partners, MassMutual Ventures, First Health Capital Partners, Echo Health Ventures, Guardian Strategic Ventures, Riverside Acceleration Capital
- Series A, May 22, 2017, $5.5M — Clayton Associates

## Investors

- Clayton Associates (https://capitalatlas.ai/funds/clayton-associates) — Series A, Series B
- Aquiline Capital Partners (https://capitalatlas.ai/funds/aquiline-capital-partners) — Series B
- MassMutual Ventures (https://capitalatlas.ai/funds/massmutual-ventures) — Series B
- First Health Capital Partners (https://capitalatlas.ai/funds/first-health-capital-partners) — Series B
- Echo Health Ventures (https://capitalatlas.ai/funds/echo-health-ventures) — Series B
- Guardian Strategic Ventures (https://capitalatlas.ai/funds/guardian-strategic-ventures) — Series B
- Riverside Acceleration Capital — Series B