Oct 7, 2015

Friends (19) October 7, 2015    3 Views    0 Comments Kleiner Perkins Caufield & Byers has led a $10.14 million Series A funding round for Hixme Insurance Solutions. Dr. Beth Seidenberg has been added to Hixme’s board of directors. Also, the company has named Denny Weinberg, a former co-founder of Wellpoint, as CEO. Based in California, Hixme Insurance Solutions is a platform that helps employers transition to a private benefit exchange. PRESS RELEASE AGOURA HILLS, Calif., October 7, 2015 — Hixme Insurance Solutions, Inc., a technology-enabled platform that helps employers transition to a new type of market-based private benefit exchange, today announced that it has raised $10.14 million in a Series A funding round led by Kleiner Perkins Caufield & Byers (KPCB). Coincident with the investment, KPCB General Partner Beth Seidenberg, M.D. has joined Hixme’s Board of Directors, and Veteran Health Care Executive and former Wellpoint Co-Founder Denny Weinberg has joined as its CEO. Denny is regarded as the creator of the consumer health plan marketplace and the architect of the open-access PPO alternative to the early HMO platform. Hixme challenges conventional wisdom about group health and other benefits, which are increasingly cumbersome to administer and confusing to employees in the post-ACA world. Hixme offers a dramatic new approach to employee benefits by opening up access for each employee to a wealth of retail and personalized options specific to where each employee lives and works. For the first time, employees won’t be dependent on employers to make this choice for them. The result: Under a Hixme platform, employees design, choose and then actually own their benefits, which are completely portable but subsidized by their employer. “We founded Hixme because we believe that there is a better way of delivering a broader array of benefits, starting with healthcare to employees,” said Hixme CEO Denny Weinberg. “Hixme is the first benefits technology and service platform that provides employees access to the vast market of several thousand benefit plan choices. We do this by providing employers a technology platform and servicing support that stages the transition to Hixme in a seamless way over the course of several months.” KPCB General Partner Beth Seidenberg, M.D. added: “We are currently seeing a huge shift in how healthcare is paid for and delivered. Hixme is at the forefront of companies who can free employers from the chore of benefit plan design and empower the individual employee and family members. This is made possible with the Hixme technology platform. As a physician I believe that empowering people to choose the right benefit for their unique needs will lead to lower costs and better overall health of the population.” Hixme is investing the proceeds of this financing in operational growth to further technology development and its national rollout. ABOUT HIXME, INC. Hixme was founded in 2013 by professional benefit consultants Dan Peate and Karen Albanese following long careers servicing larger employers. Hixme was created as the first technology-enabled Private Exchange in the expanding post ACA marketplace. Hixme’s technology and service model is designed for larger, often multistate employers with complex insured or self-funded benefit programs. Hixme’s unique migration model from employer-owned to employee-owned benefits comes from Hixme’s vision of Bringing Back The Benefit that employees once valued highly. Hixme operates from locations in California with plans to open offices throughout the country in 2016 and 2017. For more information, visit hixme.com. ABOUT KLEINER PERKINS CAUFIELD & BYERS Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build pioneering companies like Amazon, Electronic Arts, Genentech, Google, Nest, Netscape and Twitter. KPCB offers entrepreneurs years of operating experience, puts them at the center of a vast and influential network, and accelerates their success through expertise and support in recruiting, product design and delivery, business development, strategic partnerships and brand building. KPCB invests in all stages from seed and incubation to growth companies and operates from offices in Menlo Park, San Francisco, Shanghai and Beijing. For more information, visit https://www.kpcb.com and follow us @kpcb. Leave a Reply