TL;DR: We’re excited to be the earliest partner to healthcare payment platform Nibble Health to bring a more human approach to healthcare payments.
Last spring, I had a procedure on my right cornea. Insurance covered part of it, but I had to pay for it and the facility expenses upfront first, and then wait for reimbursement—which happened months later.
The stress from the procedure itself was compounded by the financing options I had to sort through, not to mention the out-of-pocket cost that amounted to more than two months’ salary.
It’s not an uncommon story, but it should be.
A while ago, a friend and former Harvard Business School classmate, Steven Greene, reached out to discuss his vision for changing how we pay for and use healthcare. His wife had received an exorbitant medical bill, and experiencing that alongside her had inspired him to drive for change.
Having just lived through the same problem, I needed to know more. And, I trusted Steven’s expertise: he’s seen the healthcare industry from lots of angles, having advised large healthcare providers while at Goldman Sachs and launched healthcare startups while at Thirty Madison.
Soon after, Steven recruited his co-founder Phil Markunas to join the team and lead product. I can’t think of a more exciting team to transform healthcare payments.
And that’s what they’re doing with Nibble Health.
Nibble is a modern payments platform for healthcare. The company, whose name was inspired by the idea of taking small bites out of large bills, is tackling the $365B of out-of-pocket expenses sent to Americans each year and providing a vital benefit that directly ties financial wellness to physical wellness.
Nibble will be offered as an employee benefit, and will give employees different financing options that can be deducted from future paychecks. Unlike many other employee benefits that target a subset of a company, Nibble is a universal service that every employee will benefit from a wide-range of healthcare services.
Nibble emerges from stealth today with $8.5M in seed financing. At Wing, we led Nibble’s pre-seed round and recently co-led Nibble’s seed round with our friend John Curtius at Tiger Global. We were joined by many great investors including A* Capital, Expa and the Frist Family.
Nibble is at the intersection of healthcare, FinTech, and SaaS, and is building a talented and multidisciplinary team modernizing healthcare payments. Learn more or join their team at nibblehealth.com.
