HealthJoy Secures $3M Seed Round
CHICAGO, IL, HealthJoy, a healthcare technology startup, announced today that it closed $3 million in funding led by GoHealth and a group of industry angel investors.
With this funding, HealthJoy plans to accelerate development of its healthcare decision platform and continue expansion into consumer, broker and employer channels. This includes the development of JOY, a human-supported machine intelligence that will cost-effectively scale the delivery model to millions of users. Supported by a team of physicians, healthcare providers and health insurance executives, JOY guides members across a wide range of healthcare decisions through personalized engagement.
'It's no secret we are experiencing changes in the health insurance industry. HealthJoy has built amazing technology that solves a real problem we've seen over the last 15 years. Consumers not only need support with insurance plan selection, but for all healthcare decisions throughout the year. HealthJoy's present system keeps members on their plans -- making better decisions, being healthier and saving money,' said Clint Jones, CEO of GoHealth. 'We're excited to be working with HealthJoy. Not only is their system a huge win for consumers, their service adds value for brokers, employers and carriers.'
Since its launch in 2014, HealthJoy has protected over $100 million in out-of-pocket expenses for more than 22,000 users. An average family of four can save $10,000 a year using HealthJoy services, including:
-Online doctor consultations
-Helpful healthcare Concierges
-Dental, vision and prescription savings plans
-Personalized prescription cost optimization
-Medical bill review and negotiations.
'Thanks to GoHealth, we developed a deep understanding of high-deductible medical coverage and built a highly-relevant product enjoyed by thousands of paying members,' said Justin Holland, CEO of HealthJoy. 'The next chapter involves fully scaling JOY, our machine intelligence, to reach millions of users regardless of insurance coverage mix. Healthcare is complex, individualized and localized. Our technologies will accelerate usage of lower-cost digital health services while delivering incredible outcomes to users of all backgrounds worldwide.'
HealthJoy is a healthcare decision platform that helps consumers protect out-of-pocket expenses through better decisions. It uses JOY, a human-supported virtual healthcare assistant, to guide consumers across a wide range of decisions and personally tailored healthcare savings. JOY is supported by a team from both the healthcare and health insurance industries. Over 20,000 users are currently protecting $100 million in out-of-pocket healthcare expenses. HealthJoy is currently available through select partners on iOS, Android, and Desktop. For more information visit HealthJoy.com.
GoHealth is a Chicago-based company that powers GoHealthInsurance.com, a private health insurance marketplace that has helped more than 30 million consumers shop for coverage. Working with 300 health insurance companies, GoHealth enables consumers to easily compare and shop for a variety of brand-name health plans. GoHealth provides plan recommendations and enrollment support by phone and online at no cost to consumers. In 2013, the GoHealth Marketplace became the first private exchange to enroll consumers in subsidized health insurance under the Affordable Care Act.
>> Click here for in-depth research on 9,000 startups and 5,000 VC investors
(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about