Mobile App Helps Consumers Be Smarter & Buy Better Using Smart Concierge
Proceeds Will Fund Accelerating Growth and Market Expansion
CHICAGO–(BUSINESS WIRE)–August 4, 2015–
Zest Health, a consumer-focused, mobile health company that helps its members make more informed and cost-effective decisions, announced today the completion of its Series A financing. The round, which was oversubscribed, exceeded $6 million from a well-respected group of healthcare and consumer technology investors, including 7wire Ventures, Lightbank, Zaffre Investments, Martin Ventures, Dallas Venture Partners and LSAN/Azimuth Ventures.
“Zest Health empowers both consumers and corporations with information to more intelligently navigate the healthcare system and save money,” said Shawn Ellis, President of Zest Health. “With so many Americans paying for a growing percentage of their healthcare needs, Zest Health’s easy-to-use app puts people in charge, in the same way they buy other services today, over their phone. The Zest Health platform enables smart choices about healthcare by supporting choice of provider, scheduling delivery of services, and a better understanding of the costs of those services. Zest Health makes cost transparency data actionable.”
The Smart Concierge is an integrated, “human-centric” mobile application and concierge service that reimagines the way people access and navigate healthcare’s broad array of choices while considering each member’s benefits, cost profile and personal preferences. The Zest Health Marketplace reveals customized options that will address the member’s needs.
“Zest Health is the new front door to the consumer’s health benefits. The Smart Concierge demystifies members’ benefits, schedules care with providers who are in-network, connects members with telemedicine, tracks healthcare spending, and resolves claims and billing concerns,” said Lee Shapiro, Executive Chairman of Zest Health and Co-founder and Managing Director of 7wire Ventures. “Zest Health will also introduce disruptive payment methods and a Marketplace model for procuring the care that is paid for out of pocket. These innovations deliver value to consumers, employers, providers and health plans. We’re excited to be joined by a talented group of healthcare investors and look forward to the diverse perspectives they’ll bring.”
To date, Zest Health has compiled an impressive customer roster that includes Chicago-based Presence Health, Blue Cross Blue Shield of Rhode Island and a number of self-funded employers, with more to be announced in the coming weeks and months.
“There is a need to customize communications with consumers so they can effectively use their health benefits. Zest Health is aggregating sophisticated consumer health information and delivering it in a digestible mobile platform,” said Pete Sally, Director of Boston-based Zaffre Investments. “Zest Health helps consumers better understand their benefits and the impact their care choices will have on their personal finances and schedules.”
About Zest Health
Zest Health, a venture-backed mHealth startup located in downtown Chicago, is reinventing the way consumers understand, navigate and consume care in today’s costly, complex ecosystem. Zest’s Smart Concierge solution helps members be smart and buy better. Founded in 2013, the company is rooted in healthcare IT and consumer technology innovation. Zest was incubated at 7wire Ventures and co-founded by 7wire Managing Partners Glen Tullman and Lee Shapiro, the former Allscripts executives, as well as Eric Lefkofsky and Brad Keywell, co-founders of Groupon, Echo Global Logistics, MediaOcean, Uptake Technologies and other technology companies. The company’s solution is sold to employers, health systems and health plans. Visit www.zesthealth.com to learn more.
About Zaffre Investments
Zaffre Investments, LLC (http://www.zaffreinvestments.com/) is a wholly-owned subsidiary of Blue Cross Blue Shield of Massachusetts that is committed to adding value through investments in new products, services and technologies that aim to improve the way healthcare is delivered and received. Zaffre focuses on companies across the healthcare landscape, with a primary focus on ACOs, consumer solutions, health information technology, and behavioral health. The firm is stage agnostic, considering a company’s financial and market positions, capabilities, and core values, as well as their missions and visions for the future. Zaffre employs a true partnership model for its portfolio companies, providing strategic direction, business support, industry connections and more.
Michael Shmarak, 312-419-0575