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 modern 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 modern platforms and enhance our capacity to assist employers maintain their staff,” shares Take Command CEO, Jack Hooper. “Investing within the performance and consumer expertise of our product means extra options and customization for our purchasers.
Based by Silicon Valley entrepreneurs Kevin Cox and Suril Kantaria within the YCombinator incubator, Savvy suits into Take Command’s technique to champion the person protection HRA (ICHRA) pattern by delivering a contemporary, technology-enabled consumer expertise that drives engagement and widespread market adoption. By buying Savvy’s know-how, Take Command can improve the reimbursement and cost processes inherent to the well being reimbursement association mannequin.
Each Take Command and Savvy supply HRA administration on their platforms, permitting employers to reimburse staff for medical health 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 manner of doing advantages necessitates an extremely complicated product designed to be extremely easy for customers,” provides Hooper. “With particular person protection HRAs taking off in recognition, this acquisition will place us to proceed to steer and develop on this house.
About Take Command
Take Command is on a mission to speed up the adoption of the reimbursement mannequin of medical health insurance to assist create a consumer-centric healthcare system. Backed by distinguished 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 supply full service, in-house particular person enrollment assist.
Savvy is a healthcare fintech firm based in San Francisco by Kevin Cox and Suril Kantaria to simplify funds for healthcare customers. The corporate constructed a market-leading know-how platform with banking & funds options for HRAs, a well-liked new different in employer medical health insurance. The corporate is backed by Silicon Valley traders together with Y Combinator, Large Ventures, Precursor Ventures, and founders from Certainly, One Medical, Brighter, and Earnest.
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