Springbuk Announces $20M in Funding, New Jobs

Posted: Updated:
INDIANAPOLIS -

Indianapolis-based Springbuk has landed a $20 million round of financing. The employer health data company says the financing will allow for an expansion and up to 100 new high-tech jobs by 2020. The round was led by California-based HealthQuest Capital and Echo Health Ventures, with participation from Elevate Ventures in Indianapolis.

Springbuk, founded in 2015 by Rod Reasen and Phil Daniels, aims to help employers use health data to lower costs. The company believes the funding will allow it to make capital investment that will help identify $4 billion in potential health cost savings for employers by the end of 2020. It says the expansion will put a big focus on product innovation, data operations and customer success initiatives.

Springbuk is headquartered at the Union 525 building in downtown Indianapolis. Last summer, the company said its customer base had grown to 900, leading it to add about 10 employees. In 2016, Springbuk announced a $3.75 million round of financing aimed at growth and boosting innovation.

Pictured left to right: Elevate Ventures CEO Chris LaMothe, Springbuck co-founders Rod Reasen and Phil Daniels, and Indianapolis Mayor Joe Hogsett.

  • Perspectives

    • Retirement Communities - What's The Appeal?

      If you are retired, or soon to be, selling your home may be a consideration. But before you downsize to a smaller home, check out Continuing Care Retirement Communities. They have a big advantage other housing can't match! Continuing Care Retirement Communities (CCRCs), or life care communities, are facilities that...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Retirement Communities - What's The Appeal?

      If you are retired, or soon to be, selling your home may be a consideration. But before you downsize to a smaller home, check out Continuing Care Retirement Communities. They have a big advantage other housing can't match! Continuing Care Retirement Communities (CCRCs), or life care communities, are facilities that...

    • Beth Goetz to be Ball State AD

      Ball State University has named Beth Goetz its next director of intercollegiate athletics. Goetz currently serves as chief operating officer at the University of Connecticut, where she has overseen all of the school's internal athletic department functions since 2016. She previously spent three years at the University of Minnesota and was an associate athletic director at Butler University for five years.

    • Old Point Tavern Successor Opens

      The second-oldest bar in Indianapolis will reopen under new ownership Monday in the city's Mass Ave district. Tavern at the Point, which was previously the site of Old Point Tavern, is owned by Indianapolis-based Cunningham Restaurant Group. The company now owns and operates 27 locations in Indianapolis, Ohio and Kentucky, including several along Mass Ave. The owners say the new location's design and menu will...

    • Mark Sandy became Ball State's director of intercollegiate athletics in 2015.

      Ball State to Introduce Next AD

      Ball State University Monday will name a new director of intercollegiate athletics. Mark Sandy, who has served in the position for more than three years, announced his retirement in January. During Sandy's tenure, eight teams won Mid-American Conference league championships or division titles. Three new facilities projects have been completed during his time in Muncie...

    • Speedway Redevelopment Not an 'Overnight Success'

      The town manager of Speedway says activities related to this weekend's 102nd running of the Indianapolis 500 will benefit the community the whole year. Jacob Blasdel says developments that along the Main Street district -- such as the mixed-use Wilshaw housing project, a soon-to-be-built hotel, Daredevil Brewing Co.'s headquarters and The Dallara IndyCar Factory -- continue to drive additional investors to consider the area. The recent interest and growth, Blasdel says, started...