WASHINGTON (dpa-AFX) - Lumity announced that it has raised $19 million in a series B financing round. The finance round was led by Draper Fisher Jurvetson with participation from Social+Capital Partnership and True Ventures.
Lumity said it is now expanding the company's benefits advisory practice and technical and back office teams. DFJ Partner, Josh Stein, will also join the company's Board of Directors.
The funding round brings Lumity's total funding to $33 million.
'Set against the backdrop of rising healthcare costs, an opaque healthcare system, confusing benefits choices, and poorly designed software experiences, employers and employees today are demanding the right tools and insights to make the best benefits choices for themselves and their families,' said Tariq Hilaly, Lumity's co-founder and CEO. 'Lumity's proprietary algorithms and easy-to-use software bring the employee benefits experience into the modern era.'
The company, which has Lyft, Greenhouse, and GoFundMe as its customers, provides a software tool to help employees and employers explore the health benefit options available to them. Lumity uses data analytics and risk modeling to help them find the best plan.
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