Company
Seed ROUND
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Company Name
BeneBay
Year Established
2016
Sector
Health Care, Technology
Stage
Launched
Location
St. Petersburg, FL
Amount Raised
Under $500,000
Supporting Documents
Connect
info@benebay.com
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Profile
BeneBay Platform is a cloud-based, real-time, claims processing and management technology platform that pays claims at the point of service and provides immediate and accurate data response for customers to help better manage healthcare costs – its Healthcare technology for modern healthcare. BeneBay’s technology stack comprises a secure Cloud-based software solution with real-time claims adjudication technology. It has been proven in the region of Northern Europe where it has become a de-facto standard and is used to process more than 90% of all transactions in private health insurance in its home market, covering a population of 400,000 members. Since the middle of 2015, this technology has been working for Florida customers, proving its competitiveness on the domestic US market. The business in Europe has attracted seed investment of EUR 1.5M ($2.0M ) from two European venture capital firms. This initial funding was used primarily to adapt the product to the U.S. market needs and for initial market development in the U.S.
Company Leadership
Chairman
Chandler is Co-Founder and Managing Partner of RainMaker Capital Funding, LLC, a private equity firm specializing in healthcare and healthcare technology. The company has its own fund and often acts as a lead investor while connecting family funds and high net worth individuals to targeted investment opportunities. His experience extends across the healthcare spectrum and includes building proprietary software, risk adjustment, health plan administration, government programs, electronic health records and network development. He has a track record of helping companies achieve significantly higher valuations within compressed timeframes.
CEO
Chuck has been a healthcare executive for more than 25 years, with expertise in start-ups, sales and marketing, public relations, operations, finance and fundraising, regulatory and all facets creating, establishing and building new companies in the healthcare sector. He has started four successful healthcare services companies and is currently working with many other start-ups to help them strategically and financially while creating greater access to customers, strategic partners, new technologies and personnel.
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