Health insurance industry challenger, Apostrophe, Inc., secures $5.25 million in seed funding included ULU Ventures, Northwest Venture Partners and others.
Healthcare Saving Platform Rewires How Money Flows Between Patients and Healthcare Providers, Cuts Costs for Employers
Apostrophe, Inc., a common sense healthcare savings platform for self-insured employers, has completed a $5.25 million seed round of financing. The investment round includes existing and new investors: Ulu Ventures, Norwest Venture Partners, Royal Street Ventures, Techstars and Better Ventures. The financing will be used to support Apostrophe’s national market expansion.
Apostrophe replaces health plan administrators with a healthcare savings platform to give self-insured employers better benefits at lower costs. The company challenges today’s insurance marketplace with a new approach: putting member experience first, cutting waste and passing the savings on to its customers.
“Apostrophe is here to untangle the insanity of today’s healthcare services model with a common sense solution, and we’re grateful to our investors for supporting the Apostrophe mission,” says Apostrophe Chief Executive Officer and co-founder Cheryl Kellond. “Our customers save at least 20% on their healthcare costs in their first year, and their employees get benefits that actually feel like benefits. We’re providing a long-term solution that’s saving businesses money right now.”
Apostrophe creates savings by rewiring how the money flows between employers, providers, and members: the company pays healthcare providers upfront for services and negotiates lower rates for its customers.
To deliver better healthcare benefits in addition to significant savings, Apostrophe offers its members:
- White Glove Concierge Service. A concierge team — available by phone, chat, email, and text — guides members to cost-effective quality healthcare
- Full Access to All Care Providers. Members get local and virtual care options, including a curated suite of digital health services, with no “out of network” providers.
- Easy-to-Understand Bills. Apostrophe sends members single, unified bills to end billing confusion, with flexible repayment options.
“Healthcare benefits need digital optimization to increase efficiency and improve healthcare outcomes. Apostrophe’s SaaS platform meets this market demand,” says Miriam Rivera, Managing Director of ULU Ventures. “They’ve struck the right balance of combining the latest technology with superior service and cost savings.”
About Apostrophe, Inc.
Apostrophe is a common sense healthcare savings platform that delivers better healthcare benefits at lower costs to self-insured employers. Female-founded and guided by simplicity, transparency, and love, Apostrophe is radically rewiring healthcare by changing how the money flows between employers, providers and members. With first-class concierge service and a curated suite of digital solutions, Apostrophe delivers benefits that actually feel like benefits and savings of 20% or more in the first year for its customers.
Based in Denver, Colorado, Apostrophe is a certified B Corporation and a Techstars graduate. For more information, visit www.apostrophehealth.com.