Maxwell nets $6M for mobile benefits management

By Jonah Comstock
11:03 am

Maxwell HealthMaxwell Health, a web- and mobile-based "employee benefits operating system" has raised $6 million, bringing its total first round funding to $8 million. The round was led by existing investor Vaizra Investments, with contributions from new investor Catalyst Ventures and other previous investors Tribeca Venture Partners, Serious Change, Lerer Ventures, and BoxGroup, as well as undisclosed angels.

The company intends to use the funds for product development and building out its sales force. CEO Veer Gidwaney told MobiHealthNews that Maxwell, which launched in February, currently has "clients in the triple digits" and focuses on companies with 1,000 or fewer employees. The platform is multifaceted, according to Gidwaney, and includes a digital marketplace to help employees select and manage medical plans, dental plans, health savings accounts, 401ks and other benefits.

"I think what makes us unique is the fact that we've created an experience that actually helps people manage their benefits and engage with their healthcare system successfully," he said. "As an example, all of your benefits details are on the mobile app, so when you go to the doctor's office, you're not carting around documents. All your details are on the phone. You know what's covered and what's not and you find the right physician to go to. There's a built-in concierge service that will help you compare costs, find the right doctor, and will even go so far as adjudicating a bill on your behalf."

Additionally, Maxwell includes a wellness platform that integrates with devices including Fitbit and Jawbone to track steps. Employees can engage in competitions with one another on the platform and earn rewards.

Maxwell makes apps for both Apple and Android, and Gidwaney stressed that mobile is a big part of Maxwell's strategy. For instance, if a patient leaves the doctor's office with a high-seeming bill, he or she can take a picture with the Maxwell app and someone from Maxwell will look over it.

"That's using mobile in my mind in a way that delivers really high value to someone," he said. "And then to combine that value with a wellness program on one system, that's what the world of healthcare should be like. A manifestation of what the future of healthcare should look and feel like."


The latest news in digital health delivered daily to your inbox.

Thank you for subscribing!
Error! Something went wrong!