A health savings account (HSA) provider, Lively Inc., has raised $27 million from private investors.
(Related: HSAs Still Have Work to Do: Morningstar)
The founders of the San Francisco-based company, Alex Cyriac and Shobin Uralil, have been working to create low-cost HSAs that are easy for consumers to set up on the web, and that connect the users to features such as TD Ameritrade self-directed brokerage accounts.
The company has hired Kirk Hoewisch, a co-founder of HSA Bank, to be its executive vice president for sales and business development.
Lively says it will use the new funding to add health finance tools to its system.
Costanoa Ventures, a firm that has already been investing in Lively, led the new round of funding.
The investor group for the new round also included Ally Ventures, Liquid 2 Ventures, PJC, Teamworthy Ventures, Streamlined Ventures, and Y Combinator.
Lively previously raised $4.2 million in initial “seed stage” funding in September 2017, and $11 million through a “Series A” round of funding, or first significant round of outside funding, in October 2018, according to records on Startup-Map.Berlin and Angel.co.
— Read 529 Plans, HSAs Gaining Ground: Ascensus, on ThinkAdvisor.