Dallas-based tech startup Take Command acquires know-how from Silicon Valley-based startup Savvy to develop advantages platform. Learn all about it in our press launch right here.
Acquisition signifies development of Particular person Protection HRAs and reinforces Dallas as rising tech hub.
DALLAS—Take Command, a tech-enabled service that provides HRA administration, has acquired progressive HRA know-how from Savvy, a San Francisco-based, VC-backed healthcare firm based in 2019. The deal to accumulate key mental property from Savvy’s platform was signed this week. The phrases of the deal weren’t disclosed.
We’re excited to affix these two progressive platforms and enhance our means to assist employers maintain their workers,” shares Take Command CEO, Jack Hooper. “Investing within the performance and person expertise of our product means extra options and customization for our shoppers.
Based by Silicon Valley entrepreneurs Kevin Cox and Suril Kantaria within the YCombinator incubator, Savvy matches into Take Command’s technique to champion the person protection HRA (ICHRA) pattern by delivering a contemporary, technology-enabled person expertise that drives engagement and widespread market adoption. By buying Savvy’s know-how, Take Command can improve the reimbursement and fee processes inherent to the well being reimbursement association mannequin.
Each Take Command and Savvy provide HRA administration on their platforms, permitting employers to reimburse workers for medical insurance premiums and medical bills on a tax-free foundation. Workers then select their very own particular person well being plans and get reimbursed on their paycheck.
This comparatively new method of doing advantages necessitates an extremely advanced product designed to be extremely easy for customers,” provides Hooper. “With particular person protection HRAs taking off in reputation, this acquisition will place us to proceed to guide and develop on this area.
About Take Command
Take Command is on a mission to speed up the adoption of the reimbursement mannequin of medical insurance to assist create a consumer-centric healthcare system. Backed by outstanding traders together with LiveOak Enterprise Companions and SJF Ventures, Take Command is a acknowledged chief in QSEHRA administration, launched the first-to-market Particular person Protection HRA platform, is a founding member of the HRA Council, and is the one HRA administrator to additionally provide full service, in-house particular person enrollment help.
Savvy is a healthcare fintech firm based in San Francisco by Kevin Cox and Suril Kantaria to simplify funds for healthcare shoppers. The corporate constructed a market-leading know-how platform with banking & funds options for HRAs, a preferred new various in employer medical insurance. The corporate is backed by Silicon Valley traders together with Y Combinator, Big Ventures, Precursor Ventures, and founders from Certainly, One Medical, Brighter, and Earnest.
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