MINNEAPOLIS, Minnesota —Bloom Health Corp., a start-up that advises companies, employees and consumers on health care issues, has raised $2 million, according to documents filed with the Securities and Exchange Commission.
The company is seeking a total of $5 million through the sale of equity and warrants and/or options.
CEO Abir Sen declined to comment. Prior to starting Bloom, Sen was co-founder and president of RedBrick Health in Minneapolis, a high flying start-up that works with large, self-insured employers and runs health and wellness, as well as disease-management programs for companies. RedBrick, which has raised a total of $45 million in venture capital money, boasts an impressive roster of investors and clients, including Kleiner Perkins Caufield & Byers, Versant Ventures, Target Corp., Welch Allyn and Conseco.
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Sen, RedBrick CEO Kyle Rofling, and Lemhi Ventures and Carol.com founder Tony Miller started Definity Health in 1999, which introduced the nation’s first health reimbursement and health savings accounts. Individuals pay their own medical bills from the accounts before insurance takes over. UnitedHealth Group Inc. in Minnetonka, the nation’s largest insurer, bought Definity for $300 million.
Bloom seems to include elements of all of these companies. Like Definity and RedBrick, the start-up advises companies on how to manage health care costs. Through Bloom Accounts, a type of health savings account, the company also works with employees on how to best maximize their health care dollars.
Like Carol.com, Bloom offers individual consumers its “Virtual Shelf” service, an online marketplace where people can shop for health care services.
Sen is a graduate of Lawrence University and Harvard Business School. Other members of Bloom’s management team include RedBrick veterans Jill Prevost, a former marketing manager at Lifetime Fitness, and Marek Ciolko, who worked with Best Buy Mobile.
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