San Francisco based Health Savings Account (HSA) platform Lively has raised $4.2m in Series Seed funding from investors including Transmedia Capital, Streamlined Ventures, Y Combinator, SV Angel, Kevin Durant and Rich Kleiman’s The Durant Company. Lively aims to give users the ability to open up a health savings account with a high deductible health plan, and make it easier to get that money in and out of the account to pay for deductibles.
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Lively raises $4.2m Seed round
“More and more people just can’t afford your traditional low-deductible HMO and PPO plans,” co-founder Shobin Uralil said. “As that happens, the increase and the rise in popularity of the HSA has also seen that trend. We talked to people and they kept saying, I feel like I’m getting nickel-and-dimed, I can’t get my money out when I need it most. [They would say] nobody seems to want to help me save for the future. That, coupled with our personal experiences, made us decide.”
