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HSA Provider Raises $27 Million

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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.

(Related: Read The Fine Print When Choosing An HSA Custodian)

Lively says it will use the new funding to add health finance tools to its system.

The Funders

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

— Read 529 Plans, HSAs Gaining Ground: Ascensus, on ThinkAdvisor.

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