Established in 2019,
Clara Insurance
is looking to target the “millions of Americans” who face financial hardship because of a serious health issue with its single, simple benefit that sends fast cash in the event that someone is injured or sick. “We’ve built our technology around photos, not faxes. Send a selfie of your broken arm on your way out of the ER to kickstart your claim process, and we’ll work to send you your cash.”
The company is led by CEO Veer Gidwaney, the ex-CEO and co-founder of
Maxwell Health
, Boston-based benefits and HR platform that was acquired by Sun Life Financial in 2018.
According to its site, Clara is backed by Founder Collective, Two Sigma Ventures and Symphony AI. It filed its Form D with the SEC in connection to an equity round totaling ~$1 million. The company previously (Jan. 2020) secured $4.5 million.
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