Better grabs $1.1m to prevent health insurance data errors

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fintech insurtech wealthtech regtech ai cybertech esg news

Health insurance startup Better has raised $1.1m in a seed funding round.

Initialized Capital led the investment with Designer Fund and angel investors also participating.

The San Francisco-based startup aims to prevent delays in reimbursements caused by data errors.

Users submit their personal information through Better’s app with the company then reviewing bills for incorrect or missing data.

Better also submits claims with health insurers as well as filing out-of-network claims for other medical expenses

The company is partnered with health insurers including BlueCross BlueShield, HealthNet, Anthem and UnitedHealth Group.

The service is currently free with Better planning to introduce a 10% charge on reimbursements customers receive when it reaches a greater scale.

Better will use the capital to expand its engineering teams and customer base.

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