General Atlantic, a New York-based growth equity firm, has made a $179 million equity investment in Gravie, an employer health benefits company in the U.S.
Gravie looks to use the capital to drive its growth through investments in all areas of the company, including expanding its Comfort health plan for small- and medium-sized businesses. Gravie provides health benefits to the employees and families of more than 1,200 companies nationwide. Existing Gravie investors FirstMark Capital and AXA Venture Partners also participated in the round.
“We are excited to partner with the seasoned management team at Gravie and focus on helping the company fulfill its vision to lower the cost of healthcare while simultaneously improving health outcomes for members and their loved ones across the U.S.,” says Jon Michael Reese, principal at General Atlantic.