League, the Toronto-based digital health insurance platform with a presence in Seattle, announced Tuesday that it has raised $25 million in a Series A financing round.
League bills itself as the digital alternative to traditional health insurance. Through its website and app, the startup connects employers and employees to a comprehensive network of health services and benefits, “offering choice, convenience and value.”
In a blog post, founder and CEO Michael Serbinis said League was started to transform the consumer healthcare experience.
“Today we are doing that by redefining health insurance with a digital platform that puts the consumer first, and lowers costs for employers with digital payments,” Serbinis said. “We are thrilled to have the support of our new and existing investors to build the team and product we need to accelerate our growth.”
@mserbinis raises $25M USD to boost growth for #LEAGUE and boldly transform #healthbenefits https://t.co/kXXSzXT6dt pic.twitter.com/9vAlTOqQ6F
— League (@JoinLeague) June 14, 2016
Co-founder Todd Humphrey is based in Seattle, which acts as the company’s U.S. headquarters. He told GeekWire that the new funding would enable League to grow “an already talented team” and would fuel expansion in cities across North America.
“We are excited to close our round, with such an outstanding group of investors,” Humphrey said. “We are poised to disrupt the health benefits and insurance market, like it never has been, with Seattle continuing to be a key piece to our U.S. strategy.”
The list of Canadian investors was topped by OMERS Ventures and also includes financing from Infinite Potential Technologies, Real Ventures, BDC IT Venture Fund, and strategic investors RBC, Manulife and Power Financial Corporation, according to League.
