US-based employee benefits software provider Artemis Health has raised $25m in a series C round that included Hearst Health Ventures, a corporate venture capital subsidiary of media group Hearst.
VC firm Bessemer Venture Partners (BVP) led the round, which included F-Prime Capital Partners, a subsidiary of investment and financial services group Fidelity, as well as Maverick Ventures and Rose Park Advisors. Steve Kraus, a partner at BVP, will join the company’s board of directors following the round.
Founded in 2013, Artemis Health has created a software platform that enables businesses to analysis and manage their own health benefits data in order to reduce the costs of their employee’s health policies.
The company has now raised $51m in total, having received $16m in an August 2017 series B round led by F-Prime that included Maverick Ventures and Kickstart Seed Fund. It had secured $8.3m in a Maverick-led round the previous year.
Grant Gordon, Artemis Health’s co-founder and CEO, said: “Employers are uniquely positioned to fix healthcare in the United States by optimising their health benefits in the best interest of their employees. Artemis Health’s mission is to make it easy for them to leverage the data created by their benefits programs to do exactly that.
“Some of the most forward-thinking employers in the country trust us as their partner, and we’re thrilled that Bessemer Venture Partners, one of the most savvy investors in the world, is throwing their weight behind our mission as well.”