Acclaris Secures $5M in Financing to Boost Consumer-Driven Healthcare Platform
Tampa, FL-March 16, 2009- With the growth in consumer-driven healthcare (CDH) plans incorporating Health Savings Accounts (HSA) and Health Reimbursement Arrangements (HRA), Acclaris-the leader in CDH-enabling technology and services-has just secured up to $5 million in financing from Escalate Capital Partners to accelerate its expansion.
"Anchored by the strength and scalability of its technology, Acclaris is experiencing explosive growth as a major provider of integrated CDH solutions," stated Tony Schell, Managing Director of Escalate Capital Partners. "We were attracted not only by Acclaris' strategic business plan, but also by their proven track record with marquee clients," added Escalate Principal Chris Julich.
Escalate Capital Partners is a private equity firm with offices in Silicon Valley, Calif., and Austin, Texas, that provides capital to expanding companies in technology, life sciences and service-based industries.
"We are very excited about our new financial partnership with Escalate Capital Partners. They are providing us with additional capital that gives us the flexibility to balance investment in our technology platform with aggressive market expansion," said Mark Whittington, CEO of Acclaris.
"Consumer-driven healthcare plans are becoming increasingly creative and complex, leading to inefficiencies for participants, employers and administrators," added Dipankar Mandal, Founder and President of Acclaris. "This funding allows Acclaris to enhance our already robust technology platform to further streamline access and delivery for multiple audiences."
Acclaris specializes in CDH-enabling technology and services for HSA, HRA, Flexible Spending Accounts (FSA), Medical Reimbursement Accounts (MRA), and other related accounts. In addition to its core offerings, the firm supports more than 20 other reimbursement plan types, all from a single, unified platform. Acclaris delivers a long-term, flexible solution that accommodates complex benefit plan variables and work flows.
About Acclaris
Acclaris brings clarity to consumer-driven healthcare, delivering an integrated solution with an exceptional user experience. Combining powerful technology and proven best practices, we simplify the complexities associated with HSA, HRA, FSA, MRA, and related programs. Our efficient, scalable platform supports financial institutions, health plans, and other administrators. Find out more at www.acclaris.com.
About Escalate Capital Partners
Escalate Capital Partners is a private structured finance firm focused exclusively on providing capital to venture-backed expansion and late-stage companies within technology, life sciences and service based industries. The ECP team combines over 55 years of experience in venture capital and commercial finance to deliver a broad array of customized, flexible funding. More information is available at www.escalatecapital.com.