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Health Plan One Closes $6.5 Million Series A Financing
Date:4/21/2008

Pequot Ventures Leads Round for Online Health Insurance Marketplace

NEW YORK and SHELTON, Conn., April 21 /PRNewswire/ -- Health Plan One (http://www.healthplanone.com), an innovative online marketplace for health insurance, today announced the completion of a $6.5 million Series A round of investment, led by Pequot Ventures. Other investors include Greycroft Partners and industry veterans Kevin Hill, a longtime EVP with Oxford Health Plans and most recently CEO for United Healthcare Northeast, Chan Wheeler, former CEO of Uniprise, a UnitedHealth Group company and Bill Sullivan, former President of Oxford Health Plans.

Health Plan One (HPO) offers a robust online platform for consumers to research and select health insurance plans from a wide range of offerings by leading national carriers. Before applying for or purchasing a health care plan, consumers can receive free health insurance quotes and compare features among multiple options rather than researching individual plans from disparate sources. HPO provides both online and offline support from nationally licensed sales representatives who are trained to help navigate the difficult process of selecting an individual, family, small group or Medicare plan. Health Plan One will use the Series A funds to fuel growth in online customer acquisition and secure its place as a premier marketplace for health insurance. "Our investors are not only behind some of the Internet's most successful and innovative businesses, but they also bring world-class insurance technology expertise to our company," said Health Plan One CEO Bill Stapleton. "We will undoubtedly benefit from the vision and leadership of our new partners to become the preferred destination in the fast-growing online health insurance market."

With the close of this round of funding, Larry Lenihan, co-head of Pequot Ventures, will join Chan Wheeler and Kevin Hill on the Board of
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SOURCE Health Plan One
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