Health insurance tech startup Zipari, nabbed $7 million in its first round of funding led by Vertical Venture Partners. The company will use the cash to meet the expanding demand for its suite of customer relationship management-centered software as a service for the health insurance industry.
"This capital expands our ability to address insurance carriers' need for analytics to understand customers, and highly customized CRM solutions," said Mark Nathan, CEO of Zipari, in a statement.
The technology continues to become increasingly intelligent about the needs of health insurance members through the full array of touches those members have with their insurance. It provides insights on real-time consumer activity, which in turn allows segmentation and predictive analytics to anticipate what members will want next, and which of them will want it.
Zipari offers predictive analytics and a rules engine within its key InsureCX solution.
The technology helps insurance companies personalize offerings, gain real-time consumer behavior insight, monitor member value and re-engage consumers.
Nathan sees the funding as a signal the Brooklyn, N.Y.-based startup is on the right trajectory – an acknowledgement of success.
"Zipari is led by a management team with extensive experience in the insurance industry," said Vertical Venture Partners Founder and Managing Director David Schwab. "They are scaling a business that is supported by customer revenue. They have developed a complete product portfolio and they are driving success through a well-tested vertical approach."