As software investors we love complexity. The more byzantine the problem, the more value great software can create by bringing clarity, transparency and mathematical optimization to even the messiest domains. And if you could choose one area that drives both employers and their workers completely crazy with complexity, cost and consequences, it’s health benefits.
That’s why we’re so excited to be able to announce our investment in Pebble Health alongside the news of their public launch and $17M capital raise.
Cofounders and longtime friends Manoj Pinna and Vinay Reddy bring the perfect combination of skills and perspectives to this problem. Manoj was on the founding team at Nubank and previously led teams at Capital One and ZestFinance, He loves untangling the complexities of financial products to find value for customers. Vinay is a Google veteran whose skills in applied machine learning at massive scale bring the engineering leadership needed to winnow the jumbled mess of regulation, product and pricing information across multi-state health benefit offerings to build the right solution for each company.
Large corporations can use their economic heft, backed up by teams of analysts and negotiators, to strike the best deals for their employees. Pebble makes that same capability available to CEOs and People leaders of almost any organization, improving benefits offerings while also driving down costs. Most early growth companies are overpaying carriers and getting poor benefits. Pebble delivers better, cheaper packages for core benefits, and also makes it possible to offer sought-after benefits like fertility and expanded mental health coverage to their employees.
The Pebble team has been keeping the company and fundraise under wraps for over a year to build out their care delivery network and fine-tune the optimization logic required to deliver tailored packages in all 50 US states. A handful of our portfolio companies – like Mystery, Spice AI, Dendron and Relevvo – were given early access to the offering and quickly switched from their previous providers because the value proposition was so compelling. Today the company’s solution is available to any early growth company, and particularly those with remote-first workforces distributed across multiple state insurance regimes. To learn more visit http://pebble.health