Health Benefits Direct Corp. says it has raised about $15 million by selling common stock and warrants.
Health Benefits, Pompano Beach, Fla., a company that provides life and health products for sale through the Internet, also has appointed Alvin Clemens to be chairman and Warren Musser to be vice chairman.
Clemens founded Academy Insurance Group, a pioneer in life and health direct marketing, in 1970, and he was president of Provident American Corp., Norristown, Pa., in the 1990s, when it became a pioneer in efforts to sell health coverage through the Web.
Musser is the founder of Safeguard Scientifics Inc., Wayne, Pa., a company that became an incubator of high-tech startups.
Scott Frohman, who continues to be Health Benefits’ chief executive, says the new cash and the new board members will help the company make more use of Web sales technology developed by the company’s chief operating officer, Charles Eissa.