- Lively – the creators of a modern health savings account (HSA) program – announced an $ 80 million Series C round. These are the details.
Lively – the creators of a modern health savings account (HSA) program – announced an $ 80 million Series C round. This round was led by B Capital Group with the participation of Telstra Ventures and the existing investor, Costanoa Ventures.
This round brings the company’s total funding to over $ 120 million. And it will be used to accelerate its mission to help millions of Americans save for health care and retirement.
Over the past year, Lively has experienced rapid growth in all facets of its business, paving the way for the future of health savings accounts. And in the past 4 months alone, the company has partnered with BMO Harris, received the IRS Non-Bank Trustee designation, and surpassed $ 500 million in HSA assets. This momentum – coupled with the latest round of funding – strengthens Lively’s position as the fastest growing HSA provider and reaffirms its leadership approach.
According to Devenir, HSA assets have doubled in the past 3 years to $ 82.2 billion held in more than 30 million accounts, despite the unusual nature of 2020 for consumers and healthcare spending. And there has never been a more critical time to put better tools in their triple tax-advantaged toolbox.
The additional funding will allow Lively to invest more in its consumer-centric platform and foster more relationships with major U.S. financial institutions. And it will expand Lively’s offerings to encompass all the health and financial tools Americans need to maximize their finances and overall livelihoods. Lively will continue to deliver a personalized, modernized version of healthcare spending with tailored customer service and unique partnerships not found anywhere else in the industry.
KEY QUOTES:
“We are growing 4 times faster than incumbents and will cross $ 1 billion in assets early next year, becoming the fastest HSA provider to date. This new round of funding allows us to continue our mission to help Americans prepare for the rising cost of health care both today and in the future. “
Alex Cyriac, CEO and co-founder of Lively
“Lively’s product is what the modern healthcare experience should be, and their approach represents the future of HSA. Their commitment to a customer-centric strategy, combined with Alex Cyriac’s vision for HSA evolution, make Lively the perfect fit for our portfolio of innovative healthcare companies.“
– Robert Mittendorff MD, general partner at B Capital Group
