Dallas-based healthcare startup Take Command Health has completed a bridge funding round, reaching its goal of $1.5 million.
Take Command is a leader in qualified small employer HRAs (health reimbursement account) administration and an advocate for tax-friendly benefits solutions. An HRA is a type of employer-funded health benefit plan that reimburses employees for out-of-pocket medical expenses and, in some cases, to pay for health insurance plan premiums.
The company said the funding will “pave the way” for two new HRA options coming in January: the Individual Coverage HRA and the Excepted Benefit HRA. Both are the result of impending healthcare policy shifts intended to bring accessibility and flexibility to the HRA market.
“With another successful fundraising round behind us, we are excited to use this new momentum to prepare for an entirely new way of thinking about group benefits,” Take Command CEO Jack Hooper said in a statement.
Although details of the two new HRAs have not yet been announced, the Take Command team is focusing their efforts on updating the company’s platform, creating tools to streamline education and administration, and onboarding critical team members to prepare for what could be an unprecedented surge in HRA usage coming in a few months.
“The quick close of this fundraising round has allowed us to shift our focus to hiring new employees to support marketing, client success, sales, and development ahead of these anticipated policy changes,” Hooper said. “When the final rulings hit, we’ll be ready.”
In an effort to accommodate a growing team, Take Command Health said it has moved its headquarters from the Dallas-based Health Wildcatters healthcare startup incubator, to Insurance Lane off of Knox Henderson in Dallas.
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