19 May Lewis & Clark Ventures Leads $3.75 Million Series A in Springbuk
FOR IMMEDIATE RELEASE
Springbuk® Secures $3.75 Million Series A Led by Lewis & Clark Ventures
Analytics Company to Further Commercialize Health Intelligence Software
INDIANAPOLIS, IN – May 19, 2016 – Springbuk, the leading employer health analytics platform, today announced it has secured $3.75 million in Series A financing led by Lewis & Clark Ventures. The capital will be used to fuel strategic hiring and product innovation. The Springbuk platform is currently used by nearly 500 employers that represent 500,000 individuals.
“In 2015, we launched a platform to help employers make better decisions about where to invest in the health of their employees,” said Rod Reasen, Springbuk’s CEO and Co-Founder. “We’ve already proven that employers are ready to put data and predictive intelligence to work. With this new investment we can help more employers measure and target their investments, so they can maximize their healthcare dollars.”
Springbuk’s cloud-based software unifies the complex and disparate data sources that commonly create challenges for today’s HR, benefits and wellness professionals. The health intelligence platform combines medical claims, pharmacy, biometric, payroll and activity data for accurate and timely insights. This intelligence allows employers to measure health programs, identify at-risk members and engage with confidence.
“Employers play a crucial role in the health of our nation,” said Reasen. “Putting usable tools into the hands of the employer and their vendors is the core mission of our platform. Springbuk is built upon our front-line expertise of working with over 6,000 Healthiest Employers® nationally.”
Brian Hopcraft, Managing Director at Lewis & Clark Ventures, will be joining the Springbuk Board of Directors. According to Hopcraft, “Springbuk is solving a big problem, as nearly every employer is burdened with rising health costs, and the complex decisions they make about the health of their workforce are too often made with inadequate information. Springbuk’s platform brings together all of the relevant data for employee health and equips HR organizations with cutting edge analytics. The rate of customer adoption has also been impressive, which validates Springbuk is meeting an underserved need for wellness analytics solutions.”
The U.S. market for annual corporate wellness spending has reached $31 billion, according to a 2015 study from Fidelity and the National Business Group on Health. Yet, according to a 2015 Healthiest Employers survey, 77% of employers are unable to measure a return on investment in health and wellness.
For more information, visit www.springbuk.com.
About Springbuk, Inc.
Springbuk is an analytics firm specialized in population health and worksite wellness. The firm collects and measures corporate health data from over 18,000 employers that represent over 60 million employee lives. Through the industry leading health intelligence platform, Springbuk enables employers to unify health data, target engagement and improve outcomes in their population. Learn more at www.springbuk.com.
About Lewis & Clark Ventures
Lewis & Clark Ventures is a VC firm led by serial entrepreneurs and operators who provide capital to fast-growing Midwest companies. Learn more at LewisAndClarkVentures.com.
Phil Daniels, (317) 691-7096