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About Gravie
Industries
Fintech
Healthcare
Company Size
201-500
Company Stage
Debt Financing
Total Funding
$333.3M
Headquarters
Minneapolis, Minnesota
Founded
2013
Overview
Gravie provides health benefits by offering straightforward and affordable health plans, primarily targeting individuals and small to midsize businesses. Their main product, Comfort, stands out because it has no deductible and no copays for most common healthcare services, allowing members to access care without unexpected costs. Additionally, Comfort includes virtual care options for musculoskeletal and mental health issues. Gravie also offers a payment solution called Gravie Pay, which enables members to pay for healthcare expenses interest-free, further easing financial stress. Unlike traditional health plans, Gravie claims that Comfort members save on out-of-pocket costs, and employers switching to Gravie often see lower premium expenses. The company has a high retention rate, indicating that many employees choose to continue with the Comfort plan in subsequent years. Gravie's goal is to simplify health benefits and reduce the financial burden of healthcare for its members.
Simplify's Take
What believers are saying
- Gravie's Comfort plan reduces costs and increases healthcare service utilization.
- The $179 million investment supports Gravie's growth and innovation in health benefits.
- Gravie's high retention rate indicates strong customer satisfaction and loyalty.
What critics are saying
- Gravie's financial model may be unsustainable if healthcare costs rise unexpectedly.
- Regulatory scrutiny could impact Gravie's expanding ICHRA offerings.
- New competitors may challenge Gravie's market share in small and midsize business sectors.
What makes Gravie unique
- Gravie's Comfort plan offers zero deductibles and copays for common healthcare services.
- Gravie Pay provides interest-free payment solutions, reducing financial burdens for members.
- Gravie's ICHRA allows personalized health plan choices for employees, enhancing flexibility.
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Funding
Total Funding
$333.3M
Above
Industry Average
Funded Over
10 Rounds
Benefits
Health Insurance
401(k) Retirement Plan
401(k) Company Match
Paid Holidays
Paid Vacation
Paid Sick Leave
Flexible Work Hours
Paid Parental Leave
Wellness Program
Alternative Medicine Coverage
Cell Phone Reimbursement
Transportation Perks
Education Reimbursement
Paid Paw-ternity Leave
Growth & Insights and Company News
6 month growth
↑ 8%1 year growth
↑ 8%2 year growth
↑ 7%Gravie <i class="fa fa-info-circle company-popover" data-content="h3Gravie/h3. div. table
MINNEAPOLIS, Feb. 10, 2025 /PRNewswire/ -- Gravie , one of the nation's fastest growing health benefits innovators, has named Steve Wolin as the company's new chief executive. Wolin succeeds Gravie Co-founder and CEO Abir Sen, who will continue as chairman of the board of directors. Prior to joining Gravie, Steve was the chief operating officer at Oscar Health."I'm incredibly excited for this opportunity to lead Gravie into the future as it continues to revolutionize the employer-sponsored health benefits market—especially for small and midsize firms whose unique challenges the industry has historically ignored," said Wolin. "Gravie has been on a remarkable growth trajectory with a three-year compound annual growth rate of more than 150%, while maintaining some of the best customer satisfaction scores I've ever seen in the employer space. In an industry dominated by a handful of players whose business models no longer support the needs of small and midsize firms, this is Gravie's time."Gravie's flagship health plan, known as Comfort®, is a level-funded product with zero premiums and zero deductibles on the most common healthcare services, like doctor's appointments, specialists, urgent care, generic drugs, and labs and imaging
Employer health benefits startup Gravie received a commitment of $40 million debt facility from Trinity Capital Inc.
Gravie, one of the nation's fastest growing health benefits innovators, announces the launch of its new podcast called It's a Gravie Thing: Health Benefits You Can Love.
MINNEAPOLIS, Sept. 19, 2023 /PRNewswire/ -- Gravie, one of the nation's fastest growing health benefits innovators, announced today that Ken Paulus has joined its board of directors. Paulus, who recently retired as the CEO of pharmacy benefit management firm Prime Therapeutics LLC, joins Gravie as an independent director.Paulus brings to the Gravie board decades of experience driving change across several areas of the healthcare industry, including leadership roles at PBMs, health systems and health plans at companies like Allina Health, Harvard Vanguard and Partners Healthcare System. Paulus currently serves on the boards of directors for virtual care leader Teladoc and orthopedic device manufacturer Breg, Inc."We're fortunate to bring someone with Ken's depth of experience and wide breadth of knowledge to Gravie as we continue our ambitious work to build a health plan everyone can love," said Gravie Co-Founder and CEO Abir Sen. "Ken has a unique understanding of how the healthcare ecosystem works and has seen firsthand how misaligned incentives across the industry create a zero-sum game that ultimately fails consumers. His counsel will be invaluable as Gravie works to redefine the health benefits experience."Gravie announced earlier this year that growth equity investor General Atlantic anchored a $179 million investment in the company, alongside existing investors FirstMark Capital and AXA Venture Partners
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About Gravie
Industries
Fintech
Healthcare
Company Size
201-500
Company Stage
Debt Financing
Total Funding
$333.3M
Headquarters
Minneapolis, Minnesota
Founded
2013
Gravie is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today