Castlight Bumps up to $180M with Latest Financing
Castlight Health, the company that facilitates healthcare e-consumerism, set a niche record today for the most amount of money raised by an HIT start-up, according to Forbes. The company tallied an additional $100 million in a Series D offer, raising its capital to $181 million in the past four years. Among the latest to buy in are a pair of mutual funds, the names of which were unreported, T. Rowe Price, and Redmile Group. Calling Castlight a business “at the forefront” of healthcare pricing, Forbes points out how the buy-in demonstrates confidence in its business model amid increasing deductible costs. “Peter Isaacson, Castlight’s chief marketing officer, says that overall, 70% of employees use Castlight’s price comparison tool, and 61% attribute a change in how they spend their health care dollars to Castlight,” the article reported. The company plans to leverage the new capital to expand its market presence.