Google Ventures invests in sectors including life sciences, consumer, enterprise, crypto, climate, and frontier technology. With Alphabet as its sole limited partner, Google Ventures focuses on long-term investments. Its operating partners assist startups in design, equity, diversity & inclusion, talent, and engineering and help them connect with Google for technology and expertise. Founded in 2009 as Google Ventures, Google Ventures manages over $8 billion in assets with 400 active portfolio companies in North America and Europe. Some notable investments include Uber, Nest, Slack, GitLab, and One Medical. Google Ventures is based in the San Francisco Bay Area with offices in Cambridge, New York, and London.

Google Ventures

Andreessen Horowitz is a venture capital firm specializing in investing in seed, start-ups, early, mid-stage, growth, and late-stage. It prefers to invest in the social media business and technology sector with a focus on software, back-end infrastructure, the infrastructure of the Internet, cloud computing, enterprise software and services, consumer, business Internet, mobile-Internet, consumer Internet, cloud computing, data storage, social network browsers data-storage, consumer electronics, networking functions, software related biology, biotech, and medicine companies at the intersection of computer science and life sciences with a focus on digital therapeutics, cloud technology in biology, and computational medicine.

Andreessen Horowitz

Lux Capital manages over $5 billion in assets focused on founding, seed, early-stage, and growth investments at the intersection of technology and the sciences. Lux takes an active role in helping entrepreneurs build successful businesses in high-growth sectors. Its investment team has built over 20 companies from scratch. Lux's investment strategy ensures portfolio companies are better connected, have a deeper insight, and command industry leadership faster than their competitors.

Lux Capital

Quiet Capital is a technology investment firm.

Quiet Capital

BrightEdge is the American Cancer Society’s donor-funded, philanthropic impact fund. The fund is led by a board comprised of the Society’s leaders and a management team with expertise in investment and venture capital. BrightEdge operates under a charitable fund model that invests in for-profit companies developing novel cancer-focused therapies and technologies. The fund relies on the expertise of the Society’s medical and science professionals to evaluate the mission value of its investments. The fund’s goal is to accelerate delivery of promising cancer-related solutions through capital investment, market awareness and a shared commitment to eradicate cancer.

BrightEdge Fund

Not Boring Capital is an $8 million venture fund that invests in companies with stories to tell and helps tell them.

Not Boring Capital

Index Ventures is a venture capital firm which helps entrepreneurs turn bold ideas into global businesses.

Index Ventures

General Catalyst is a venture capital firm that provides early-stage and growth equity investments. The company provides ongoing momentum that accelerates ideas, careers, and companies toward standout success.

General Catalyst

Avid Ventures backs exceptional founders building transformative fintech, consumer internet, and software companies.

Avid Ventures

SemperVirens is an early-stage ecosystem fund investing in workforce technology, healthcare technology, and financial technology companies looking to solve employer needs. Its team members bring deep industry experience, relationships, and insights.

SemperVirens Venture Capital

The General Partnership is a venture capital firm that works with startups in their early stages of formation and growth. It invests significant capital to amplify its support and increase its stake in the success of the companies with which it collaborates. It partners to develop, implement, and scale Go-To-Market strategies to accelerate company growth.

The General Partnership

Thatch

Thatch helps businesses give great healthcare to their employees.

Thatch is a health benefits platform founded in 2021. The company aims to simplify and personalize healthcare benefits for businesses, particularly startups and SMEs. Thatch's platform leverages the Individual Coverage Health Reimbursement Arrangement (ICHRA) law, which allows employers to provide tax-free dollars for employees to purchase their own health insurance plans. The company's solution includes a tech-enabled Health Savings Account (HSA), a Thatch Visa debit card for healthcare expenses, and on-demand access to experts for resolving billing issues via text.

Managing employee health-related benefits

Health Benefits Platforms

Thatch is a health benefits platform founded in 2021. The company aims to simplify and personalize healthcare benefits for businesses, particularly startups and SMEs. Thatch's platform leverages the Individual Coverage Health Reimbursement Arrangement (ICHRA) law, which allows employers to provide tax-free dollars for employees to purchase their own health insurance plans. The company's solution includes a tech-enabled Health Savings Account (HSA), a Thatch Visa debit card for healthcare expenses, and on-demand access to experts for resolving billing issues via text.Thatch's platform enables employers to set a healthcare budget for their employees, who can then allocate this budget toward their preferred health insurance plans and additional healthcare costs. If employees spend less than their budgeted amount on insurance, they can use the remaining funds for other healthcare expenses such as prescriptions, co-pays, and therapy. The company utilizes modern financial technology to streamline providing healthcare benefits and handling the complexity, time, and administrative work associated with healthcare management.A key feature of Thatch's offering is ThatchBot, an AI-powered service available 24/7 to employees. Users can text ThatchBot to check if expenses are covered by their budget, upload receipts for reimbursement, and get instant assistance with account-related queries. Thatch's platform is designed to be user-friendly, allowing employers to set up benefits in as soon as five minutes, saving time and potentially eliminating the need for dedicated benefits personnel.

Corestream provides voluntary benefits administration through a cloud-based, proprietary HR technology platform. The platform creates a single integration point for carriers, brokers, employers and employees to streamline the selection and administration of insurance benefits and other employee perks. The platform handles insurance benefits like critical illness, long term care, pet insurance, auto and home insurance, as well as financial assistance programs and health/wellness offerings. A Duke University study found that enrollment through Corestream's platform contributes to employee retention, with enrolled employees staying an average of six years versus three years for non-enrolled employees. The platform removes complexity by demystifying benefit features and preventing employees from enrolling in unsuitable benefits, as these offerings are not one-size-fits-all.
Key customers and partnerships
In January 2022, Corestream entered into a strategic partnership with Standard Insurance Company (The Standard) to streamline benefits management and provide insurance products through its platform. Corestream's platform was delivering benefits to more than two million employees as of March 2022. The company has also partnered with Enhesa to provide content supporting risk management and compliance requirements, and with SafePaaS to support identity security and access governance solutions. Additionally, Corestream maintains a partnership with Data Privacy Simplified to offer consultancy services including information audits, gap analysis, and requirements identification.

CoreStream

BeneBay is a cloud-based claims processing and management technology platform for healthcare services. The platform processes claims at the point of service and provides real-time data responses to help manage healthcare costs effectively. Initially developed and implemented in Northern Europe, where it processed over 90% of private health insurance transactions covering 400,000 members, the platform expanded to the US market starting in Florida in mid-2015. BeneBay functions as an online self-insurance platform specifically designed for smaller employers, addressing the underserved market of health benefits for smaller groups through self-funded health insurance products and simplified product design. The platform's technology stack includes secure cloud delivery, built-in intelligence, and automation features for claims adjudication. In 2016, BeneBay reported annual recurring revenues of USD 0.5 million.
Key customers and partnerships
BeneBay served customers in Florida following its US market entry. In Northern Europe, the platform managed transactions for a member base of 400,000 individuals in the private health insurance sector.

Benebay

Benecaid Health Benefit Solutions Inc. is a provider of group health benefits solutions for Canadian small and medium-sized businesses. The company's core offering includes health spending accounts (HSAs) and the Honeybee digital benefits platform. Through HSAs, employers can provide tax-free accounts for employees to pay for healthcare services not covered by government insurance plans. In July 2022, Benecaid, as part of the Green Shield Canada (GSC) group of companies, launched Honeybee Select, a digital benefits solution specifically designed for small businesses with 25 or fewer employees. Honeybee Select offers standardized health, dental, and travel benefits plans powered by GSC, with additional mental health coverage through Inkblot Therapy. The platform features streamlined user experience, add-on allowance accounts, and electronic claims processing through GSC's adjudication platform, enabling instant eligibility assessment at healthcare providers.
Key customers and partnerships
Benecaid operates as a third-party administrator for several Canadian insurance companies and serves clients through a network of independent licensed insurance advisors. Benecaid integrated GSC's adjudication system for processing health and dental claims for Honeybee Select plan members. The company also partnered with Inkblot Therapy to provide mental health coverage as part of its Honeybee Select offering.

Benecaid

Marsh McLennan Agency (MMA) is a provider of business insurance, employee health and benefits, retirement, and private client insurance solutions in North America. The company offers services including commercial property and casualty insurance, employee benefits, management liability, cyber insurance, captives, alternative risk transfer programs, small business solutions, and personal lines insurance. As of January 2024, MMA operates through 170 offices across the US and Canada with over 9,900 employees. The company generated more than USD 2 billion in annualized revenue, making it one of the largest brokerage operations in North America. MMA leverages data analytics capabilities, maintaining one of the industry's largest data repositories to help clients make objective decisions about insurance products and risk exposure. In November 2024, MMA completed the acquisition of McGriff Insurance Services, integrating over 3,500 employees and expanding its capabilities in specialty and middle-market segments. McGriff, which reported revenue of USD 1.3 billion for the 12 months ended June 2024, brought expertise in areas such as commercial property and casualty, corporate bonding and surety, cyber insurance, and management liability.
Key customers and partnerships
MMA works with organizations across various industries including healthcare, senior living, physician practices, construction, transportation, education, agriculture, hospitality, public entities, and banking. The company serves as the official business insurance partner for NCHA (North Carolina healthcare Association) and works with more hospitals and health systems in North Carolina than any other brokerage or consultant.

Marsh McLennan Agency

SAG-AFTRA Health Plan provides health insurance coverage to eligible members of the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA). The plan offers comprehensive medical services including medical, surgical, mental health, life and AD&D insurance, maternity care, hearing aids, therapy, and dental and vision services. As of January 2024, only 12.7% of SAG-AFTRA's 170,000 members qualify for the union's health plan. Monthly premiums for members range from USD 125 to USD 250, with costs increasing to USD 2,501 following unemployment. The plan requires members to meet specific earnings-based or days-based eligibility criteria, which varies depending on occupation and work performed under specific contracts.
Key customers and partnerships
The SAG-AFTRA Health Plan partnered with Carrot Fertility in 2024 to provide infertility treatment coverage starting January 2025, offering services including IVF, IUI, and prescription drug therapy with a family lifetime maximum of USD 30,000. In December 2022, the organization partnered with AFL-CIO to offer new SAG-AFTRA Senior Benefit Plans for Medicare-eligible members and their Medicare-eligible spouses/partners.

SAG-AFTRA Health Plan

Enterprise platforms that help employees and their dependents receive primary or specialist care services as part of their health benefits. These platforms also provide access to Telehealth services, behavioral care services, and remote patient monitoring

Enterprise platforms that help employees better navigate their healthcare journey by identifying which healthcare services are covered under their benefits plan and how to best maximize their use (e.g. identifying a wider pool of suitable regional physicians for consultation)

Enterprise platforms that specialize in helping employees manage their pharmacy- and prescription-related benefits to refill prescriptions or dispense medication for in-store pickup or home delivery

Enterprise platforms that allow employers to directly manage and customize employee benefit plans. These platforms enable enterprises to present employees with multiple health benefits options across health plans and negotiate terms with third-party health administrator services and insurance providers

Platforms are offered using a B2B SaaS business model, enabling digital health

Platforms are offered on a B2B basis to help manage employee benefits across an enterprise

<div>
 
 Thatch, a personalized health benefits platform, successfully raised USD 38 million in a Series A funding round. The round was led by Index Ventures and General Catalyst, and also saw participation from SemperVirens and The General Partnership, as well as existing investors Andreessen Horowitz and Avid Ventures. This investment brings Thatch's total funding to USD 44 million.
 These new funds will be utilized to enlarge Thatch's team, escalate their technology platform, and quicken their customer acquisition process.
 Thatch operates as a comprehensive platform that streamlines offering personalized healthcare benefits to employees via an Individual Coverage Health Reimbursement Arrangement (ICHRA). Here, employers establish a budget, thereafter, employees have the authority to choose their preferred health insurance plans and use a Thatch Visa debit card to pay for other healthcare expenditures including prescriptions and copays.
 
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Thatch

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