Updated: Gravie Raises $12.5m Series B Led By Split Rock, Expanding to Chicago and Texas

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.

The news comes exactly one year after the venture announced a $10.5m A round; Co founder and CEO Abir Sen says the venture has received $25.6m cumulative.

“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.


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  • Chroha

    Here you have 2 headlines. One posted at 3:29 pm saying Gravie raised $10.5 million in venture capital. The site is unavailable when you click on the headline. 11 minutes later another headline is posted saying Gravie raised $12.5 million in venture capital. If you took down the first story, couldn’t you take down the headline as well? If you didn’t take down the first story you should have taken it and the headline down when you posted the 2nd story.

    • http://tech.mn Jeff Pesek

      HI Chroha, where are you seeing the headline for the first story, which was posted accidentally.

      • Chroha

        Mr. Pesek,

        It’s noi there anymore, but when I read the Business section in Twincities.com early this am the two stories were there. The one showing the lesser amount raised was right below the other one in that far left column. Maybe it was just there for a short time.

        [email protected]

        Subject: Re: Comment on Minneapolis Insurance Marketplace Gravie Raises $12.5m

        • http://tech.mn Jeff Pesek

          hmmm. thanks for pointing that out. sometimes a dead article/link will get cached…if you have the chance to provide a link to where you saw it, do let me know! Thanks.

  • Rupert

    Gravie is expanding into India? Or is that supposed to be Indiana?

  • Gerry Giacoman Colyer

    Hey folks,

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    We also have a calculator that can break down and calculate expected savings (after-tax), so you can determine whether this move makes sense for you and your employees.

    Happy to chat further if we can be helpful. Cheers!