FlexMinder, a Seattle startup that helps healthcare administrators automate the insurance claims submission process, announced a $1.2 million Series A round on Tuesday.
Led by CEO Lowell Rickefs, FlexMinder aggregates the reimbursement process for healthcare flexible spending accounts, which allow employees to save money by putting pretax dollars — up to $2,500 for healthcare and $5,000 for childcare — aside to be spent on qualified items such as insurance deductibles, co-pays at the doctor, prescription drugs and more. The company’s software also lets individual customers see their healthcare claim information via a single portal.
The latest round, which comes from Seattle angel investor Rudy Gadre, Founders Co-op, AOA, WRF Capital and Walt Winshall, will be used to help support a substantial new contract recently signed.
Total funding for FlexMinder, a 2011 graduate of TechStars Seattle, is now up to $2.6 million. Here’s more about the company: