Companies
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Collective Health
Healthtech
Collective Health is a San Francisco-based technology company that helps self-insured employers administer employee health benefits through a modern digital platform.
$1.22B
-$0.32
34.30%
30 days ago
$0.93
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Collective Health was founded in 2013 by Ali Diab and Rajaie Batniji, based on the observation that a large and growing share of U.S. employers, particularly larger companies, choose to self-insure their employee health benefits, meaning the employer itself bears the financial risk for employee healthcare costs rather than paying a fixed premium to a traditional insurance carrier, but that the administrative systems supporting self-insured plans had historically been fragmented, difficult for employees to navigate, and built on outdated technology inherited from traditional insurance carriers' administrative infrastructure. Collective Health's platform serves as a modern third-party administrator for self-insured employer health plans, giving employees a unified, consumer-friendly digital experience for understanding their health benefits, finding in-network providers, tracking claims and deductible progress, and accessing various point health benefit vendors, such as telehealth, mental health, and chronic condition management programs, that many large employers have added to their benefits packages over time but that employees have historically had to navigate through disconnected logins and interfaces. The company's platform aims to reduce the administrative confusion and fragmentation that has often characterized the employee benefits experience at large, self-insured employers, while giving employer benefits teams better data and tools to manage their health plan design, vendor relationships, and overall healthcare spending. Collective Health's customers span large employers across many industries seeking to modernize their self-insured health benefits administration and improve the employee experience relative to legacy third-party administrators. The company has raised very substantial venture funding from investors including GV, Founders Fund, and NEA, reaching a valuation exceeding $1.5 billion, competing with both traditional third-party benefits administrators and other newer health benefits technology platforms.
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