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About Vericred
Industries
Enterprise Software
Healthcare
Company Size
51-200
Company Stage
Early VC
Total Funding
$53.8M
Headquarters
New York City, New York
Founded
2014
Overview
Ideon specializes in enhancing the health insurance and employee benefits industry through its APIs (Application Programming Interfaces). These APIs facilitate communication between different software systems, streamlining processes such as quoting, selling, enrolling, and managing health insurance and employee benefits. Ideon primarily serves clients like insurance carriers, brokers, and HR technology platforms, helping them improve their digital transformation efforts. Unlike many competitors, Ideon focuses specifically on providing API solutions that can be easily integrated into existing systems, allowing clients to manage benefits more efficiently. The company operates on a subscription and usage-based pricing model, generating revenue based on how much clients utilize its APIs. Ideon's goal is to make the employee benefits industry more efficient and transparent, simplifying the management of benefits for businesses.
Simplify's Take
What believers are saying
- Growing demand for API-driven solutions boosts Ideon's market potential.
- Partnerships with companies like Angle Health enhance Ideon's service offerings.
- Expansion into ICHRA solutions aligns with market trends for flexible benefits.
What critics are saying
- Increased competition from new InsurTech startups could erode market share.
- Rapid technological advancements may strain Ideon's resources for continuous updates.
- Potential data privacy concerns could arise from handling sensitive information.
What makes Vericred unique
- Ideon's APIs streamline quoting, selling, enrolling, and managing health insurance benefits.
- The company partners with major players like Prudential and BerniePortal for enhanced solutions.
- Ideon's HITRUST certification underscores its commitment to data security and compliance.
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Funding
Total Funding
$53.8M
Meets
Industry Average
Funded Over
4 Rounds
Growth & Insights and Company News
6 month growth
↑ 4%1 year growth
↑ 4%2 year growth
↑ 2%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
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