US-headquartered health savings account (HSA) provider Lively has secured $80m in series C funding from investors including Telstra Ventures, a corporate venturing unit for telecommunications firm Telstra.
The round was led by B Capital Group, the venture capital firm backed by consulting firm Boston Consulting Group, and included fellow VC firm Costanoa Ventures. The company has secured $120m in total since it was founded in 2016.
Lively has built an online HSA platform that helps US-based customers acquire tax-deductible health insurance policies.
The company had received more than $42m in overall funding as of a $27m series B round in late 2019 led by Costanoa Ventures and backed by financial services group Ally Financial’s Ally Ventures unit, Liquid 2 Ventures, Y Combinator and PJC, Teamworthy Ventures and Streamlined Ventures.
Costanoa Ventures had already led an $11m series A round for Lively the previous year that also featured Y Combinator, PJC and Transmedia Capital.
Lively’s $4.2m seed round in 2017 included Streamlined Ventures, Transmedia Capital, Y Combinator, Liquid 2 Ventures, PJC, SV Angel, Durant Company, Teamworthy Ventures (then called Haystack Partners) and multiple angel investors, while FundersClub was among its early shareholders.
