What is Nycbased Level 27m Azevedotechcrunch ?

0
37

Level Gets $27M in Series A Funding Round

Level is a New York Based company that offers insurance solutions. The company came into existence in 2018 and started offering its first product in 2019. The offerings from Level are for corporate consumers. The B2B model targets employers who are looking for enhanced benefits for their employees. The first product offered by Level was dental insurance. In the later years, it started offering vision insurance. The main goal of this NYC based organization was to rebuild how insurance is offered to clients.

Nycbased Level 27m Azevedotechcrunch

With such impressive products, Level successfully raised $27 million in the Series A round of funding. Two investors in this round of funding include Lightspeed Venture Partners and Khosla Ventures. Level didn’t disclose the exact valuation amount, but if the sources are believed, the valuation is in a nine-digit figure. Level has over 10,000 members covered under the insurance, and Level serves corporates like Udemy, Intercom, KeepTruckin, and many more.

In an article by Mary Ann Azevedo, all the details about the funding and valuation have been revealed. Apart from this, let us learn more about the core business of Level. This company allows employers to customize the insurance plan. Level also claims it can reduce the claim processing time to just four hours. Currently, the standard claim processing time is between 30 and 60 days. At present, Level is serving small customers, but after this round of funding, it is believed that Level will be able to scale up its solutions. The CEO of Level also states that in the future, Level will be able to serve organizations with all employee sizes ranging between two and 20,000 employees. So Nycbased Level 27m Azevedotechcrunch means Level raises $27M from Khosla, Lightspeed to rebuild insurance from the ground up

Level also offers a revolutionary insurance plan where employers can get their money back for unused benefits. This ultimately saves the cost for the employer.