Healthiest Employers LLC, an Indianapolis-based firm that collects and measures corporate health data, said Tuesday that it has secured $1.5 million in venture capital in a financing round led by the not-for-profit investment group Elevate Ventures.
Healthiest Employers plans to use the funds to help drive marketing and sales of Springbuk, an application that gives companies a comprehensive look at medical claims and other health data for their employees.
The firm raised $1 million of the round from local angel investors, and Elevate Ventures contributed the remaining $500,000, co-founder Phil Daniels told IBJ.
Elevate, founded in 2010, is supported by the Indiana Economic Development Corp., community foundations and corporate and individual donors. Its investment portfolio includes 45 companies that received more than $30 million in investments and $192 million in co-investments.
Elevate made its investment through the Indiana 21st Century Research and Technology Fund, an early-stage investment program managed in partnership with the IEDC.
“As employers look to control healthcare costs, Springbuk is well-positioned to serve the employer and benefits broker who want an actionable way to improve health," Elevate CEO Chris LaMothe said in a prepared release.
Founded in 2009, Healthiest Employers has 26 employees, Daniels said. Last summer, it moved from Fishers to new offices at 8465 Keystone Crossing.