Plug and Play is thrilled to announce Healthpocket’s recent acquisition by Health Insurance Innovations for $30 million. The Healthpocket team has come a long way since their entry to Plug and Play just over two years ago, and we are lucky to have been host to the beginning of their journey.
According to founder and CEO Bruce Telkamp, Healthpocket is a “search and comparison shopping technology for health insurance.” Healthpocket is an all inclusive platform, covering every insurance market from Medicare to the ACA to Obamacare. They are the first company that has made it possible for the consumer to view and compare every type of health plan online in one place.
Healthpocket was founded in July of 2012, and they raised their Series A round of funding from Light Speed Venture Capital just two months later. A month after that they entered Plug and Play headquarters, and they have been in the building ever since. As stated by Bruce, “It’s been two years now at Plug and Play and it has been fantastic. The team here is incredibly helpful, and I don’t think we could have built our business as rapidly as we have without the support we received here.” In the two years since their arrival, the company has grown into one of the largest sources of information in the health care industry.
Health Insurance Innovations, a publicly traded company, develops health insurance and ancillary plan bundles through partnerships with a select group of carriers. Healthpocket has been a referral partner of Health Insurance Innovations for the past 6 months, and there has been “a lot of synergy between the two companies.” Bruce and his co-founder Sheldon Wong have been acquainted with Health Insurance Innovations for almost a decade at this point, and the merger is a natural progression for the company.
Whether it is towards an eventual acquisition or simply the next round of funding, helping companies grow is at the core of what Plug and Play does here in Silicon Valley. We are extremely excited to work with the Healthpocket team moving forward as they continue to flourish. To learn more about Healthpocket, check out their website. To learn more about Health Insurance Innovations, check out their website.
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