Trusty.care’s unique distribution model reaches millions of consumers through partnerships, brokers and carriers to improve loyalty and sales inefficiencies.
—Joseph Schneier, CEO of Trusty.care
NEW YORK, NEW YORK, USA, June 13, 2022 /EINPresswire.com/ — Trusty.care, the technology startup modernizing sales and marketing enablement solutions for Medicare insurance distribution, announced today the closing of a funding round of 6 million dollars to finance growth in the market for health insurers. This round of funding was led by the Joshua Mailman Foundation which endowed the Columbia University Mailman School of Public Health, with participation from Cultivation Capital, Dreamit Ventures, Wanxiang Healthcare Investments, Advisors Fund, Rebalance Capital, Boro Capital, Gaingels and MEDA Angels, as well as internal investors. In addition, Cultivation Capital and Advisors Fund will join as observers on the board. The company will use the new capital to grow the team, forge new partnerships and ramp up its marketing efforts.
“Selling personal health insurance in the United States is an incredibly frustrating experience for consumers and a costly and inefficient process for insurers. We are committed to aligning our stakeholders to reduce out-of-pocket costs for consumers, while addressing the billions of dollars spent on manual processes in this market,” says Joseph Schneier, CEO of Trusty.care
Trusty.care is the first company to provide an AI-powered 360-degree sales enablement solution for the individual health insurance market. Their products are used by insurance sales professionals to streamline quote, enrollment, commission, contract and licensing workflows. For insurance companies, Trusty.care improves retention, reduces expenses on manual processes and improves NPS scores.
“I am very impressed with the team at Trusty.care and their innovative approach to helping insurance brokers, FMOs and carriers deliver a top-notch experience for the aging population.” says Alana Mann, Principal at Cultivation Capital
“Trusty.care offers a highly innovative and validated way to reduce overall costs for payers and healthcare. Cost reduction is once again a top priority. says Mark Goldstein, president of UCSF Health Hub and through its Advisors Fund LLC.
“Trusty.care delivers on its promise to ensure families aren’t pushed out of business by out-of-pocket medical expenses, and has become the go-to sales support platform for some of the world’s leading insurance brands. more reliable. We are thrilled to continue our support of Trusty.care through this funding and to be part of Joseph and Trusty.care’s journey. says Barr Even, co-founder and managing partner, Rebalance Capital
This latest round of funding will be used to support Trusty.care’s growth and expand its product offering. Specifically, the areas the company will focus on are:
• Work with partners to leverage their 300+ health plan customers
• Launch of Medicare Advantage retention product
• Partnered to provide digital enrollment to over 200 health plans
Over the past 18 months, Trusty.care has grown from 1,000 contracted brokers to 50,000. Their systems are used by regional carriers and field marketing organizations who use Trusty.care to power every stage of their distribution . This round brings Trusty.care’s total funding to $13 million.
Trusty.care is a New York-based insurtech company working to improve the efficiency of the distribution of senior, individual and ancillary products. By connecting the point of sale to the needs of the consumer, Trusty.care is able to radically improve consumer financial stability related to healthcare costs and decrease rapid opt-out.
About Capital Culture
Cultivation Capital is an early-stage venture capital firm that invests in software technologies, life sciences, agricultural technologies and geospatial technologies. Since its inception in 2012, the firm has invested in more than 200 companies and is recognized as one of the most active early-stage investors in the United States. culturecapital.com
About Dreamit Ventures
Dreamit is a leading venture capital fund focused on startups with revenue or pilot projects ready to scale. Dreamit specializes in startups building transformative businesses in health and safety technology. dreamit.com
About Wanxiang Healthcare Investments
Wanxiang Healthcare Investments is an enterprise-backed venture capital group that focuses on healthcare technology investments, with an emphasis on digital health. www.wanxianghealthcare.com