Tribeca Venture Partners is a multi-stage venture capital firm that invests in digital media, e-commerce, fintech, education, ad tech, and mobile apps sectors. The firm was founded in 2011 by Brian Hirsch and Chip Meakem and is based in New York, United States.

Tribeca Venture Partners

First Round is a seed-stage venture firm focused on building a vibrant community of technology entrepreneurs and companies, including Uber, Square, and Warby Parker. Through custom-built software, incredible in-person experiences, and a host of other unique services, First Round helps tiny companies get big while constantly reimagining the role of venture capital. It offers a growing number of services and products to help founders build companies from scratch. First Round has adopted the Diversity Term Sheet Rider.

First Round Capital

PROOF invests in breakout high-performing companies in growth rounds across all VC sectors except life sciences. The firm works in partnership with early stage VCs and leverages their pro-rata rights in exchange for sharing part of the upside.

PROOF

GSA Venture Partners was acquired by [Tribeca Venture Partners](http://www.crunchbase.com/financial-organization/tribeca-venture-partners-2) in October 2011 and all its investments under the portfolio TVP I.   GSA Venture Partners was a New York-based early stage venture fund that helps entrepreneurs build innovative companies.

GSA Venture Partners

New Leaf Venture Partners is a venture capital firm that invests primarily in healthcare technology. The company typically focuses on later stage biopharmaceutical products, early stage medical devices, and laboratory infrastructure technologies.  The New Leaf Ventures (NLV) team has been built over a decade, originating within Sprout Group, the venture capital affiliate of Credit Suisse First Boston. Sprout Group was formed in 1969 and has historically been one of the leading venture capital firms in the country. The team started to invest in healthcare technology in 1993 and since then, has become a leading venture investor in that sector. In 2005, the entire healthcare technology team of Sprout spun out into NLV.

New Leaf Venture Partners

Canaan is an early stage venture capital firm that invests in entrepreneurs with visionary ideas. With $5B under management, a diversified fund and over 190 exits to date, Canaan has invested in some of the world's leading technology and healthcare companies over the past 30 years. Canaan’s focus areas include fintech, enterprise/cloud, marketplaces, frontier tech, biopharma, digital health, and medtech.

Canaan Partners

McKesson Ventures they help entrepreneurs in healthcare technology and services to create efficient health care delivery systems for key stakeholders on all sides of the health care economy.

McKesson Ventures

Truveris

Truveris brings transparency to the prescription drug ecosystem through data-driven innovations. Truveris’ platform offers customers – from the individual patient to employers, retailers, pharmacy benefits stakeholders, and manufacturers – the data and insights they need to effectively and efficiently manage rising costs and market access challenges.   Based in Manhattan, Truveris is backed by Canaan Partners, New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures and First Round Capital.

<div>Truveris provides software solutions designed to drive transparency, accessibility, and affordability in the pharmacy benefits sector by offering tools and services that help employers, health plans, and unions manage and optimize their pharmacy benefit programs. Truveris' platform offers data analytics and pricing algorithms to analyze drug prices and claim data, aiming to reduce costs and improve outcomes for plan sponsors and their members. This includes monitoring market trends, benchmarking plan performance, and providing insights on pharmacy spend.</div>

Managing employee health-related benefits

Health Benefits Platforms

Employer-focused pharmacy benefits company Truveris raises $15M

<div>
 
 Truveris provides software solutions designed to drive transparency, accessibility, and affordability in the pharmacy benefits sector by offering tools and services that help employers, health plans, and unions manage and optimize their pharmacy benefit programs. Truveris' platform offers data analytics and pricing algorithms to analyze drug prices and claim data, aiming to reduce costs and improve outcomes for plan sponsors and their members. This includes monitoring market trends, benchmarking plan performance, and providing insights on pharmacy spend. 
 
 
 Additionally, Truveris engages in patient advocacy by assisting individuals in understanding their pharmacy benefits and exploring cost-saving opportunities for their prescriptions.
 
 
 
 
 
 Key customers and partnerships
 
 
 
 
 
 Truveris serves a diverse customer base that includes health insurers, self-insured corporations, unions, and government entities at various levels. As of May 2023, the company supported over 7 million members and patients, analyzing more than 50 million pharmacy claims annually and managing USD 8.4 billion in annual drug spend.
 
 
 In September 2023, Truveris partnered with the Benefit Advisors Network (BAN) to offer BAN members access to Truveris&rsquo; platform. 
 
 
 
 
 Funding and financials
 
 
 
 
 In May 2024, the company raised USD 15 million in a Series E funding round co-led by Canaan Partners and New Leaf Venture Partners. The funds raised were set aside to accelerate the next phase of the company's development and expand its operations across US employers.
 
</div>

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>
 
 Truveris, a provider of a pharmacy benefit management platform, has secured USD 15 million in a Series E funding round. It was co-led by Canaan Partners and New Leaf Venture Partners, taking the total funds raised by the company to USD 69 million.
 The investment will finance the next development phase of the company and enable the expansion of operations across US employers.
 The company develops software solutions designed to promote transparency, accessibility, and affordability in the pharmacy benefits sector. It offers tools and services for employers, health plans, and unions to manage and optimize pharmacy benefit programs. By using data analytics and pricing algorithms, Truveris' platform analyzes drug prices and claim data to aim at cost reduction and improved outcomes for plan sponsors and members.
 
</div>

Truveris

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