HCSC leads $280M funding round for digital health benefits startup 

Collective Health, a digital employer health benefits startup, recently closed a $280 million series F financing round. 

Health insurance company Health Care Service Corp. led the financing round, which also included Maverick Ventures as Sun Life as investors, according to a May 4 news release. 

HCSC inked a partnership with Collective Health in March to bring the startup's claims management and digital health benefits services to HCSC members. The insurer will start offering Collective Health's digital programs to self-funded Blue Cross and Blue Shield customers in Illinois and Texas in 2022, with plans to expand into all HCSC markets. 

Collective Health will use the new funding to expand its digital program, which helps employers manage claims, eligibility, billing, analytics and payment on a single platform.

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