Healthcare Savings Account provider Lively Inc. has raised $4.2 million in new funding, and added a new investment capability in partnership with TD Ameritrade.
The new capability works through an integration with TD Ameritrade Institutional’s Self-Directed Plan Services platform, which should expand the long-term value of the San Francisco- based Lively’s HSA offering. The feature is available to all Lively HSA account holders.
Essentially, this lets customers create more value for their HSA account by allowing them to treat it as an investment fund.
In a statement today, Lively co-founder and CEO Alex Cyriac said:
Our goal is to facilitate and optimize how individuals save for healthcare expenses. As more and more healthcare costs are shifted to individuals, it becomes that much more important for them to plan and save accordingly. Adding investment capabilities was a natural expansion to our user-centric HSA experience. As HSAs grow, investments provide long-term value to support our users’ needs to prepare for healthcare costs over the course of their lives.
Its $4.2M in funding was raised from a group of investors that include Streamlined Ventures, Transmedia Capital, Y Combinator, SV Angel, PJC, The Durant Company (Kevin Durant & Rich Kleiman), Liquid 2 Ventures (Joe Montana), Haystack Partners, Paul Buchheit (creator of Gmail), Isaac Oates (Founder & CEO of Justworks), Frederic Kerrest (Co-founder of Okta), and Jeff Epstein (former CFO of Oracle), among others.
Read more at BusinessWire and TechCrunch.