NationsBenefits Announces Significant Investment Led by General Atlantic to Drive Continued Growth
NationsBenefits®, a leading provider of supplemental benefits and member engagement solutions for health plans, today announced it has raised a significant growth investment led by General Atlantic, a leading global growth equity firm. Existing investors, which include The Pritzker Organization (“TPO”) and Denali Growth Partners (“DGP”), also participated in the round. The funding is intended to help extend NationsBenefits’ leadership position in supplemental benefits administration and further accelerate ongoing growth initiatives, including deepening the company’s robust technology platform and service offerings that further enhance the member experience and drive health outcomes.
Glenn M. Parker, M.D., Founder and CEO at NationsBenefits
Founded in 2015 by Chief Executive Officer Glenn M. Parker, M.D., NationsBenefits currently serves millions of members across the United States by partnering with managed care organizations to provide customizable healthcare solutions through a diverse offering of supplemental benefits. The company’s supplemental benefits, products, and services include customizable flex card solutions, OTC benefits, food-specific benefits, hearing benefits, and many additional wellness-related benefits. With innovative digital health technologies, NationsBenefits takes a comprehensive approach to the end user experience to improve health outcomes.
“This investment is another milestone in the evolution of NationsBenefits, and we’re excited to add General Atlantic as a partner to achieve our ambitious goals,” said Dr. Parker. “This capital plays a pivotal role in how we pursue the next level of our growth and accelerate forward as we seek to drive further value for health plans and premier experiences for their members,” added Michael Parker, Chief Operating Officer at NationsBenefits.
“Glenn and the NationsBenefits team have built a category-leading business that effectively serves a critical population, particularly as this demographic’s needs and expectations around healthcare shift,” said Robbert Vorhoff, Managing Director and Global Head of General Atlantic’s Healthcare sector, who will be joining the NationsBenefits board alongside General Atlantic Vice President Armaan Pai. “NationsBenefits is focused on providing a comprehensive scope of services for members on a national scale, underpinned by a superior member engagement experience, a value proposition we view as differentiated and resonant. General Atlantic is excited to support the NationsBenefits team as they aim to further accelerate growth to continue improving its members’ experiences and health outcomes.”
Barclays acted as the exclusive financial advisor to NationsBenefits.
NationsBenefits is a leading member engagement, benefits administration, and healthcare company that partners with managed care organizations to provide innovative healthcare solutions aimed at driving growth, reducing costs, and delighting members. Through its comprehensive suite of innovative supplemental benefits, payments platform, and member engagement solutions, NationsBenefits helps health plans deliver high quality benefits to their members that help address social determinants of health and improve member health outcomes and satisfaction. The Company’s compliance-focused infrastructure, proprietary technology systems, and premier service delivery model allow NationsBenefits’ health plan partners to deliver high quality, value-based care to millions of members. To learn more, visit NationsBenefits.com.
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $84 billion in assets under management inclusive of all products as of December 31, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit the website: www.generalatlantic.com.
About The Pritzker Organization
The Pritzker Organization (TPO) is the merchant bank for the business interests of the Tom Pritzker family. TPO is focused on partnering with exceptional leaders to create value across a wide range of industries. TPO looks for opportunities where it can create value for the family's interests and those of its partners and colleagues over a significant time horizon. For more than 60 years, TPO has overseen and guided the development of dozens of portfolio companies across a wide variety of industries, including manufacturing, logistics, life sciences, hospitality, healthcare and services. Notable businesses include Hyatt Hotels, Triton Container and the Marmon Group. Recent control investments include TMS International, Lithko Contracting, KBP Investments, Mammoth Holdings, STV Inc, and Crown Healthcare Laundry Services. In addition to its core strategy of building businesses over the long term, TPO is also active in special situations, advising the family's interests in the deployment of capital across a wide spectrum of industries and investment structures. Additional information can be found at www.pritzkerorg.com.
About Denali Growth Partners
Denali Growth Partners is a Boston-based growth equity firm. DGP seeks to partner with fast-growing, capital-efficient businesses serving the healthcare ecosystem. DGP helps management teams and companies accelerate growth through capital and strategic resources. Additional information about Denali Growth Partners is available at www.denaligrowth.com.