Healthtech startup HealthJoy has just announced a $3 million Series A round led by Chicago Ventures, with Social Capital, Sidekick Fund and GoHealth also participating. Several angel investors from health and tech companies like OurHealth and kCura also contributed.
The new round comes a little more than a year after HealthJoy raised $3 million in seed funding, which GoHealth led.
“HealthJoy boasts a powerful combination of a world-class team and groundbreaking technology with a proven approach to employee engagement, and unmatched cost containment results,” said Stuart Larkins, partner at Chicago Ventures, in a statement. “They are in a unique position to impact a huge market with well-defined pain points, and we are excited to help fuel their growth.”
HealthJoy’s mobile app makes it easier for people to navigate their healthcare plans. Users can find a doctor, get information on wellness programs and even find coupons to save money on medication. The experience is powered by an A.I. chatbot named Joy, which knows the ins and outs of a user’s insurance.
Joy is designed to cut costs, whether that’s by avoiding unnecessary trips to the doctor or finding coupons for prescriptions. While Joy is the first point of contact, users can opt to speak to a human — a telemedicine doctor or one of the company’s healthcare concierges — at any time.
CEO and co-founder Justin Holland told Built In Chicago that part of the new round would go to growing the company’s headcount, which currently sits at 32 employees. The company is hiring for its sales and marketing teams in an effort to expand its network of distribution partners.
“We’re looking to bring on 15 people over the next six to nine months,” Holland said. "All those hires will be in Chicago.”
HealthJoy will also be making its platform more comprehensive. The company is working with several partners who specialize in predictive claim analytics to allow Joy to identify gaps in care or better analyze a person’s health history to make disease predictions. It’s also working to integrate health savings accounts.
“There’s a lot of integrations that we’re looking at across the board to bring to the experience,” Holland said. “Our job every day is to make Joy smarter.”
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