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Overview
Ideon provides API-based technology that connects health insurance and employee benefits systems. Its APIs enable insurers, brokers, and HR technology platforms to quote, sell, enroll, and manage benefits by integrating multiple software systems through standardized endpoints. Clients subscribe to Ideon’s platform and pay based on either a flat subscription or usage, so the more the APIs are used, the more revenue is generated. The company differentiates itself by specializing in the health insurance and employee benefits space and offering a comprehensive, scalable API suite that supports quick digital transformation and easier benefits administration. Ideon’s goal is to make the employee benefits industry more efficient and transparent, simplifying how businesses offer and manage benefits for employees and customers.
About Vericred
Industries
Data & Analytics
Enterprise Software
Healthcare
Company Size
51-200
Company Stage
Early VC
Total Funding
$53.8M
Headquarters
New York City, New York
Founded
2014
Simplify's Take
What believers are saying
- Ideon achieved $32 million revenue in 2023 with 115 employees and $33.1 million funding.
- $20 million exempt offering filed under Michael Levin fuels expansion and product acceleration.
- Ideon transmits billions of data points, enabling efficient quoting, enrollment, and management.
What critics are saying
- Rippling and Gusto launch proprietary APIs, bypassing Ideon's 300-carrier network in 12-24 months.
- HHS FHIR rules mandate free carrier data access, commoditizing Ideon's datasets in 18-36 months.
- MetLife and Kaiser build in-house platforms, slashing Ideon's usage revenue in 9-18 months.
What makes Vericred unique
- Ideon provides single-integration APIs for plan design, provider-network, and formulary data.
- Ideon connects over 300 carriers like MetLife, Kaiser, and 100 platforms like Rippling, Gusto.
- Ideon acts as middleware solving many-to-many connectivity in fragmented health insurance data.
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Funding
Total Funding
$53.8M
Below
Industry Average
Funded Over
6 Rounds
Growth & Insights and Company News
6 month growth
↑ 2%1 year growth
↑ 0%2 year growth
↑ 6%The partnership combines Ideon's advanced enrollment technology with Ambient's payment and administration solution, providing health insurance carriers and ICHRA administrators a unified, automated solution for managing ICHRA enrollment and payment data.
NEWARK, N.J. - Prudential Financial, Inc. (NYSE: PRU) announced today that its Group Insurance business has collaborated with Ideon, a leader in data exchange and connectivity solutions, to deliver unique technology solutions for benefits eligibility and enrollment processes for workplace clients and their employees.
BerniePortal and Ideon have partnered to launch an API solution that will securely transmit employee benefits information between BerniePortal and insurance companies.
AgencyBloc (Cedar Falls, Iowa), a provider of insurance growth enablement solutions catering to the health, senior, and benefits industries, has partnered with Ideon (New York), provider of application program interface (API) solutions that connect InsurTechs and insurance carriers in the health and benefits industry.
NEW YORK--(BUSINESS WIRE)--Ideon, the leader in data and connectivity solutions for carriers and benefits technology platforms, today announced Steve Swad as its new Chief Executive Officer, effective immediately. In a complementary move, Ideon co-founder Dan Langevin has been promoted to President and CTO. Swad brings decades of C-level leadership experience from the employee benefits industry and various high-profile technology and media companies. Previously, Swad led Benefitfocus, a top benefits administration platform, as its CEO before its acquisition by Voya Financial. Swad's impressive career also includes roles as CEO of Rosetta Stone, COO of Apptopia, and CFO positions at Vox Media, Comverse Technology, and AOL. Langevin, co-founder of Ideon and its CTO since 2014, has played a pivotal role in shaping the company's technology and advancing its business
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About Vericred
Industries
Data & Analytics
Enterprise Software
Healthcare
Company Size
51-200
Company Stage
Early VC
Total Funding
$53.8M
Headquarters
New York City, New York
Founded
2014
There are no jobs for Vericred right now.
Find jobs on Simplify and start your career today