SEATTLE (March 25, 2014): FlexMinder, a fast-growing Seattle startup, today announced the closing of a $1.2 million funding round.
Key investors in the round include Rudy Gadre, Founders Co-op, AOA, WRF Capital and Walt Winshall. Funds will be used to drive execution against a large (up to $12 million annually) contract recently secured by FlexMinder. Rollout of the new contract started this month and has included development, sales and support for pending embedded Medical Expense Management solutions.
“We are very pleased to have attracted such a strong set of investors. Our new long term partnerships are driving exponential revenue growth,” said Lowell Ricklefs, CEO of FlexMinder. “We are laser focused on helping customers expand their revenue base and reduce costs by automating access to medical expense data.”
Chris Devore of Founders Coop says: “We’re incredibly excited about FlexMinder’s execution to date. They’re bringing smart ‘big data’ solutions to the massive inefficiencies in health care payments and medical cost control. The FlexMinder team has laid the foundation for aggressive growth and large enterprise customers are now beating a path to their door.”
“The health benefits arena is changing as employees take a more active role in their family’s health spending,” says Loretta Little of WRF Capital. “We think FlexMinder is in the right place at the right time to offer valuable tools to healthcare consumers as well as helping organizations tasked with efficiently managing the huge amounts of data being processed.”
FlexMinder has also recently added some talent to their team to support this large contract rollout, including seasoned industry veteran Emma Cochrane who has recently stepped in as COO, Noele Emmons as Director of Client Services and Cindy Hughes as Marketing Manager.