December 20, 2013
On December 17, Maxwell Health made the announcement that they had secured a hefty $6 million in series A1 funding. The entire purse will be put directly toward fulfilling the growing demand, at both companies and benefits advisories, for their web- and mobile-based employee health benefits management.
The funding is a solid follow-up to a successful $2 million round completed in August, and it brings the overall money raised to $8 million. It also comes on the heels of a major victory as the nation’s hottest startup at our very own Tech Cocktail’s Celebrate in October.
“In an industry like ours, it’s always awesome to get validation from the tech community because it reinforces our DNA as a serious tech company, and that definitely plays well to potential customers and our investors,” says CEO Veer Gidwaney about winning Celebrate.
True enough, the exposure drew in some big names that pitched in on the funding like Vaizra Investments, Catalyst Health Ventures, Tribeca Venture Partners, Serious Change, Lerer Ventures, BoxGroup, and a multitude of independent angels. Maxwell Health is looking forward to building a brighter future for themselves, employees, and employers with their backing.
In my initial coverage of the startup back in August, I wrote that the early success of Maxwell Health had nothing to do with luck and everything to do with hard work, dedication, and smart planning. And this is the precise inevitability that Gidwaney was planning for.
They secured massive funding, won best pitch at Tech Cocktail’s Boston Mixer & Startup Showcase, won hottest startup at Tech Cocktail Celebrate, and secured another bout of even more massive funding. It seems the only thing left for Maxwell Health is to fulfill their goal of permanently and positively changing healthcare in America; we’re all excited to see it happen.
Did you like this article?
Get more delivered to your inbox just like it!