Accolade makes debut on Nasdaq with upsized IPO
Employee benefits startup Accolade went public on Thursday. The company began trading at $35 per share, above its initial price of $22 per share.
Employee benefits startup Accolade went public on Thursday. The company began trading at $35 per share, above its initial price of $22 per share.
Employee benefits platform Accolade disclosed the share price for its planned IPO. The company plans to price its IPO at $21 per share, for just over 10 million shares.
As technology advances, AI-powered tools will increasingly reduce the administrative burdens on healthcare providers.
Accolade, a platform designed to boost employee engagement with their health benefits, filed preliminary paperwork for an IPO. The company plans to be listed on Nasdaq as ACCD
Humana hopes to improve employee engagement through its partnership with employee benefits tech company Accolade even as research shows that many benefit programs are not effective.
The acquisition enabled the development of Accolade Total Care, a product meant to ease the headache of finding a high-quality physician by making provider quality and cost measures available to both Accolade members and the company's care concierges.
Michael Yang spent nearly a decade at Comcast Ventures helping to build a West Coast investment presence for the Philadelphia-based company. Now he's charged with a similar mission for a $71 billion Canadian pension plan.
While healthcare costs for employees have risen around 5 percent for the past few years, Collective Health clients actually saw their medical trend decrease by 0.3 percent from 2016 and 2017.
The company, which tackles employee healthcare benefits, is working to improve the user experience by bringing capabilities like a mobile app to the table.
New investors taking part in the round included private equity firm Cross Creek Advisors and Madeira Tech Partners.
Andreessen Horowitz led the Series E round with participation from Madrona Venture Group. It was the second part of a round that has raised more than $90 million.
Accolade Inc. has raised nearly $17 million in equity for its personal health assistance services for large employers, according to a regulatory document. Accolade works with self-insured companies with more than 30,000 covered employees to help lower health costs. The company assigns a personal health assistant to work one-on-one with an employee to help coordinate […]