We are excited to have announced our Series A lead investment in Abett. Founded by Mike Hanlon, the company provides a data layer that enables any self-insured employer in the US to receive a regular and consistent feed of their claims data so they can actually understand healthcare costs, the efficacy of their employee benefits, and how to better serve their employees (to whom they have a fiduciary responsibility). While this sounds like table stakes, it's far from the norm. After payroll, healthcare is the biggest cost consideration for American employers. A majority of Americans receive employer-based health insurance. A majority of those Americans receive insurance from a fully or partially self-funded plan (i.e., the employer is taking risk instead of the insurance company). Abett brings transparency and alignment to a thorny data problem to empower benefits leaders & CFOs. More to come on Acrew Capital's focus on the investing at the intersection of healthcare & data. cc: Mark Kraynak and Kwabena "KB" Nimo for their partnership on this investment.
Joseph Piper
1mo
Abett is solving a difficult and complex problem but is up to the task. Best wishes and good to see Acrew in the lead for a really promising Seattle company.
Matt McBride
1mo
This is a really cool idea 💡
Awesome news, congrats Mike Hanlon!
Proud to partner with a team that's transforming innovative ideas into world-changing initiatives!