Bind Raises $2.5m From Lemhi For On Demand Health Insurance

Bright Health isn’t the only Minnesota startup fusing technology with insurance.  Bind Benefits, Inc. aka Bind recently raised $2.5m, according to this SEC disclosure.

“Bind is built for the way we live now. Unlike traditional health insurance that charges for services you may never need or want, Bind allows you to pay for what you need-not what you don’t-and adjust your coverage when those needs change – We call this on-demand health insurance. Using actuarial science, pattern recognition and machine learning, Bind drives down costs without compromising quality or coverage.”

The venture has Lemhi Ventures‘ name all over it; Managing Partner Tony Miller is the CEO of Bind, while peers Jodi Hubler, and Tom Stroh are ‘related persons’ — all three part of the Minneapolis healthcare/tech oriented VC firm. Formed in 2016, Bind already has at least 10 people on the team.

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