Healthcare Expenses Startup Simplee Raises $20M

May 10, 2016 | Israeli healthcare expenses startup Simplee has announced the raising of $20 million in a Series C financing round led by Social Capital, with participation from existing investors 83North and Heritage Group, and new investor American Express Ventures. Simplee is part of the growing fintech movement in healthcare and the $330 billion in annual out of pocket medical spending, a total that eclipses online retail spending. Simplee was founded in 2011 by CEO Tomer Shoval, COO Roberto Rabinovich, and CTO Tom Tsarfati. Headquartered in Palo Alto, it has a development center in Tel Aviv. The Simplee Financial Engagement software platform is healthcare’s first patient engagement solution unifying hospital and physician estimates, statements, payments, and credit. Since launching its enterprise platform in 2013, Simplee now works with nearly 900 hospitals and physician groups, and 5 million patients across the US representing over $1 billion in annual payments.