Maxwell Health, the service platform that aims to make the often hairy navigation process through employee health care easier, has raised $26.4 million in a Series B round of funding led by Adams Street Partners. Cambia Health Solutions, Schooner Capital and Brothers Brook, LLC also joined this round.
Previous investors Vaizra Investments, Tribeca Venture Partners, Catalyst Health Ventures, Serious Change, and Lerer Hippeau Ventures have all contributed in this round as well. Tribeca Ventures has been an investor in Maxwell since raising seed last year. This new round brings the total amount of funding for Maxwell to $34.4 million.
Maxwell also announced a partnership with MetLife Insurance that it says will help provide products that go beyond the traditional employee options. Maxwell already has relationships with less traditional health services such as Doctors on Demand, Care.com as well as forward thinking HR platforms such as ZenPayroll, SilkRoad and BamboodHR.
The platform works with these partners to try to make the experience of looking up benefits, how much you pay into the system and what your options are a bit easier. It breaks down the data from these services and then offers up what it thinks are the best options for your individual needs.
Maxwell also provides an app that includes a virtual insurance ID card so folks can access benefits and wellness information on the go. In addition to that, users can pull in data from their Fitbit or Jawbone devices for feedback and more contextualized suggestions for their health.
Maxwell expects to double its team in the near future and plans to use some of the funding for that. It also plans to set aside some of the amount to continue to “expand product functionality.”