Minneapolis-based health benefits company Gravie has raised $75 million in series E funding from Canadian investment firm Georgian.
Gravie provides a health benefits marketplace that allows employees to choose and purchase employer-sponsored coverage plans.
The funding will be used to invest in "product and technology, sales and marketing, and expansion into new markets through new and existing distribution channels," according to a March 9 press release from Gravie.
In 2018, Gravie launched their main product, Comfort, a health benefits plan that removes copays and deductibles for most common healthcare services, including primary and preventive care, mental healthcare, specialist visits, and generic prescriptions.
"The team's ability to rapidly scale the business while maintaining attractive unit economics is impressive," said Tyson Baber, Georgian lead investor. "We look forward to working with them to build an enduring company that will improve healthcare for all."