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Sick Of Being Nickel And Dimed, Lively's Founders Built A Better HSA Platform

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Sick Of Being Nickel And Dimed, Lively's Founders Built A Better HSA Platform

The Benzinga Global Fintech Awards are a yearly showcase of the best and brightest in fintech. In preparation for its biggest installment yet in May 2018, we're profiling the companies competing for the BZ Awards.

Our next feature is on Lively.

What does your company do? What unique problem does it solve?

Shobin Uralil, co-founder and COO: Lively is a Health Savings Account (HSA) platform for employers and individuals. A 401(k) for healthcare.

In an industry that is largely dominated by banks and other financial institutions with outdated technology, Lively has built a modern HSA platform from the ground up. By focusing on user experience and design, Lively offers a fresh approach to the HSA all while being cost-effective for businesses and free for individuals. We don’t nickel and dime our users and we offer a level of service through dedicated account managers and customer support.

Who are your customers?

Uralil: Individuals and employers (and enrolled employees), in the U.S.

How long have you been in business?

Uralil: One year. We launched in March 2017

Where are you located?

Uralil: 188 KIng St., #502 San Francisco, CA 94110.

Who is your company's leadership? What kind of experience do they have?

Uralil: Lively was born out of a couple of personal experiences that my co-founder (Alex Cyriac, CEO) and I went through. Alex (with him mom) and me (with my son) experienced what it meant to not be prepared for out-of-pocket medical expenses. We figured we could have prevented this situation and so when we started digging into it, we came across the HSA. The HSA industry has been growing significantly due to rising healthcare costs (and insurance premiums). It was also an industry that was dominated by banks and other financial institutions.

Who are your investors, if any?

Uralil: We have raised $4.2 million from investors including:

  • The Durant Company (Kevin Durant & Rich Kleiman)
  • Liquid 2 Ventures (Joe Montana)
  • Y Combinator
  • SV Angel
  • PJC
  • Streamlined Ventures
  • Transmedia Capital
  • Haystack Partners
  • Paul Buchheit (creator of Gmail)
  • Isaac Oates (Founder & CEO of Justworks)
  • Frederic Kerrest (Co-founder of Okta)
  • Jeff Epstein (former CFO of Oracle)

Is there anything else Benzinga should know about your company?

Uralil: Within 6 months of our initial launch, we climbed to the #1 ranked HSA on HSASearch.com, beating out much larger legacy HSA providers based on our low and transparent fees and customer service.

To check out companies like Lively for yourself, grab a ticket to the Benzinga Global Fintech Awards May 15-16 in New York.

Posted-In: Benzinga Global Fintech Awards LivelyFintech Health Care Interview General Best of Benzinga

 

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