Digital benefits startup First Dollar raised $14 million led by Blue Cross Blue Shield Association’s venture arm, with participation from Next Coast Ventures and Meridian Street Capital, the company announced on Thursday.
First Dollar, which offers a digital wallet consumers can use to spend tax-advantaged cash like Health Savings Accounts, adds the Series A round to cash from angel investors Firefly Health CEO Fay Rotenberg, Bright Health Group chief technology officer Brian Gambs, RPM Ventures Managing Director Marc Weiser and more. The Austin-based company said it has raised $19 million in total venture funding.
“Paying for care is the main way consumers engage with their health plans. However, the consumer payment experience today requires consumers to navigate a complex web of healthcare benefits, spending accounts and payment cards,” Michael Spadafore, managing director at the Blue Venture fund, said in a news release. “First Dollar’s platform and vision to power