Updated 4/20 @2:00pm CT
Minneapolis startup Gravie is raising more cash for their consumer health insurance marketplace. A tweet sent late Friday afternoon was first indication of the $12.5m round, which was lead by new backer Split Rock Partners and included current investors Aberdare Ventures + FirstMark Capital.
“It came together really quick. We’ve found our product market fit and growing at a very fast rate. This capital will takes us through this year and next year sales cycle,” Sen explains.
Gravie’s marketplace technology aim to help individuals and family identify the best plans and provide ongoing management of healthcare insurance needs. While Gravie is licensed in all 50 states, appointed by 300+ insurers, and currently operates in Minnesota, Indiana, and Florida — the application of fresh funds is for support in market expansion to Chicago and Texas.
There are 48 employees overall with 45 in Minnesota, and intentions of hiring here and elsewhere.