Health IQ Valuation, Funding & Investors
Health IQ is valued at $450M as of May 2019.
Last Health IQ valuation
$450M
Series D · May 2019
Last Health IQ funding round
$55M
Series D · May 2019
Cumulative funding Health IQ raised
$137M
across 4 funding rounds
Key investors in Health IQ
First Round Capital
CRV
Andreessen Horowitz
Foundation Capital
Western Technology Investment
Felicis
About Health IQ
Health IQ is a life insurance brokerage using health knowledge quizzes to match policies for active, health-conscious individuals. The Raleigh-based company partners with 25 carriers like Prudential and Lincoln Financial for term and whole life coverage with preferred rates. Health IQ assesses fitness via 20-question online quizzes on exercise, nutrition, and wellness. Founded in 2014, it has placed billions in coverage for cyclists, runners, and vegans.
Founded
2014
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
$450M (May 2019)
Sectors
Health IQ Valuation
Health IQ is currently valued at $450M, based on its Series D in May 2019.
The $55M round was led by Aquiline Technology Growth, Greenspring Associates and Hanwha Asset Management, with participation from Andreessen Horowitz.
Health IQ valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2019 | Series D | $450M |
Health IQ Funding History
Health IQ has raised a total of $137M across 4 funding rounds.
Health IQ's first fundraising round was a $6M seed round in December 2014. The most recent completed round was a $55M Series D in May 2019.
Health IQ funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2019 | Series D | Aquiline Technology Growth (lead); Greenspring Associates (lead); Hanwha Asset Management (lead); Andreessen Horowitz | $55M | $450M | Health IQ Insurance Services, a Mountain View, California-based insurtech company, specializes in providing lower life insurance rates to individuals with healthy lifestyles, such as runners, cyclists, weightlifters, and well-managed diabetics, using science and data to measure health impacts and offer personalized pricing through an online health quiz and fitness documentation. Operating as a managing general agent, it partners with carriers like Ameritas, Prudential, Assurity, and SBLI, earning commissions on successful policy sales while enabling average client savings of $4,289 in rates and up to $6,279 in underwriting over 30-year policies. On May 8, 2019, Health IQ raised $55 million in a Series D funding round led by Greenspring Associates, Aquiline Technology Growth, and Hanwha Asset Management, with participation from existing investors including Andreessen Horowitz, bringing total funding to $139.5 million. Previous backers include Charles River Ventures, First Round Capital, Greylock Partners, Menlo Ventures, Ribbit Capital, Felicis Ventures, and Foundation Capital. The round valued the company at approximately $450 million according to one source. At the time of the announcement, Health IQ reported $21 billion in client coverage, up from $7 billion since the 2017 funding, adding $2 billion every few weeks, reflecting rapid growth. The company had expanded products to include special rate life insurance for well-managed diabetics and disability insurance, positioning itself in the 'precision insurance' trend using data for accurate pricing. Investors highlighted Health IQ's momentum as one of the fastest-growing life insurance companies, differentiating it from other insurtechs through fair pricing for health-conscious consumers and data advantages. The funding aims to support expansion of special rate life insurance offerings. |
| Nov 2017 | Series C | Andreessen Horowitz (lead); First Round Capital; Foundation Capital; CRV | $35M | - | Health IQ raised $34.6M in its Series C round in November 2017, with participation from Andreessen Horowitz, CRV, First Round Capital, and Foundation Capital. This followed a $41.4M Series B in December 2016 and preceded a $55M Series D in May 2019. The company operated in the health technology space. Health IQ also had earlier funding including a $5.5M seed in December 2014. Other Series B investors included Foundation Capital, Western Technology Investment, Ribbit Capital, and Felicis Ventures. |
| Dec 2016 | Series B | First Round Capital; Felicis; Ribbit Capital; Foundation Capital; Western Technology Investment; CRV | $41M | - | Health IQ Insurance Services is a life insurance company founded in 2013 that targets health-conscious individuals by offering discounted premiums based on lifestyle factors such as diet and exercise. The company developed a proprietary health quiz that serves as the foundation for its underwriting, allowing it to identify lower-risk customers and provide discounts ranging from 4 to 33 percent compared to standard rates. The company partners with established insurance carriers including SBLI, Ameritas, Assurity, and reinsurer Swiss Re to issue policies. Health IQ was founded by Munjal Shah and a team of health-conscious entrepreneurs who were inspired after Shah's personal health challenges and his previous exit with the sale of startup Riya to Google. The company operates as a licensed life insurance provider in all 50 states. By the time of its Series D funding announcement in May 2019, Health IQ had secured $21 billion in client coverage, representing significant growth from earlier periods. The Series B round in 2016 involved investors Charles River Ventures, Felicis Ventures, First Round Capital, Foundation Capital, Ribbit Capital, and Western Technology Investments, but specific valuation details for that round are not disclosed in available public sources. Following the Series B, Health IQ continued to raise capital, closing a Series C of $34.6 million in November 2017 led by Andreessen Horowitz, and subsequently a Series D of $55 million in May 2019. |
| Dec 2014 | Seed | CRV (lead); Menlo Ventures; First Round Capital; Greylock; Western Technology Investment; Rock Health Capital | $6M | - | Health IQ raised $5.5 million in a seed round in December 2014 led by CRV, with participation from First Round Capital, Greylock, Menlo Ventures, Rock Health Capital, and Western Technology Investment. The funding supported launching initial product offerings and establishing market presence for the company, which provides better life insurance rates and underwriting for health-conscious individuals. Health IQ partners with insurance carriers like SBLI, Ameritas Life Insurance Corp., Assurity Life Insurance Company, and reinsurer Swiss Re to offer 4 to 33 percent lower rates. Founded in 2014 and headquartered in Mountain View, California, Health IQ operates in the healthcare and AI sectors, using detailed health records and AI to tailor Medicare and life insurance plans. The company has grown significantly post-2014, securing additional rounds including $34.6 million Series C in November 2017 and $55 million Series D in May 2019, bringing total funding to approximately $136.5-$139.5 million from investors like Andreessen Horowitz, Felicis Ventures, and Aquiline Technology Growth. By 2019, Health IQ achieved $21 billion in client coverage, up from $7 billion in 2017, with average client savings of $4,289 in rates and $6,279 from underwriting over 30-year policies. The company expanded products to include special rate life insurance for diabetics and disability insurance, positioning it as one of the fastest-growing life insurance companies. |
Who has invested in Health IQ?
13 investors have backed Health IQ across its funding rounds, including First Round Capital, CRV, Andreessen Horowitz, Foundation Capital, Western Technology Investment and Felicis.
Lead investors include Aquiline Technology Growth, Greenspring Associates, Hanwha Asset Management, Andreessen Horowitz and CRV.
Health IQ Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Philadelphia, PA | 3 | Participant | Dec 2014 | |
| United States | 3 | Lead | Dec 2014 | |
| San Francisco, CA | 2 | Lead | Nov 2017 | |
| San Francisco, CA | 2 | Participant | Dec 2016 | |
| San Francisco, CA | 2 | Participant | Dec 2014 | |
| Baltimore, MD | 1 | Lead | May 2019 | |
| San Francisco, CA | 1 | Participant | Dec 2014 | |
| New York City, NY | 1 | Lead | May 2019 | |
| San Francisco, CA | 1 | Participant | Dec 2016 | |
| San Francisco, CA | 1 | Participant | Dec 2016 | |
| San Francisco, CA | 1 | Participant | Dec 2014 | |
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Start Free TrialHealth IQ Competitors
Health IQ competitors include listed companies like Wirtualna Polska, Sichuan Newsnet Media and Value Line, and private ones like Pear Video, Steven.com and iQiyi Sports.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Chaoyang | Private | - | - | $435M | - | |
 Poland | Publicly listed | $585M | $102M | $472M | 1.3x | |
 London | Private | - | - | $425M | - | |
| Beijing | Private | - | - | $486M | - | |
| China | Publicly listed | $46M | $14M | $392M | - | |
| United States | Publicly listed | $33M | $29M | $372M | - |
Health IQ Public Comps
Health IQ is still privately-owned, but its public comps include Wirtualna Polska, Sichuan Newsnet Media, Value Line, m-up holdings, Sohu, Future plc, Weathernews, Cairo Communication, So-Young and Grupo Clarín.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $585M | $102M | 1.4x | 1.3x | 8.1x | 5.6x | |||
| $46M | $14M | 7.0x | - | 22.5x | - | |||
| $33M | $29M | 8.5x | - | 10.0x | - | |||
| $204M | $33M | 1.3x | 1.3x | 8.3x | - | |||
| $584M | ($54M) | - | - | - | - | |||
| $993M | $254M | 0.8x | 0.9x | 3.2x | 3.4x | |||
| $157M | $38M | 2.9x | 2.9x | 11.9x | 11.9x | |||
| $1.2B | $192M | 0.7x | 0.7x | 4.4x | 4.1x | |||
This data is available for Pro users. Sign up to see all Health IQ competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Health IQ
| When was Health IQ founded? | Health IQ was founded in 2014. |
| Where is Health IQ headquartered? | Health IQ is headquartered in San Francisco, CA, United States. |
| Is Health IQ publicly listed? | No, Health IQ is a private, VC-backed company. |
| What is Health IQ's valuation? | Health IQ was last valued at $450M in its Series D in May 2019. |
| How much funding has Health IQ raised? | Health IQ has raised $137M across 4 funding rounds. |
| What was Health IQ's last funding round? | Health IQ's last funding round was a $55M Series D in May 2019, led by Aquiline Technology Growth, Greenspring Associates and Hanwha Asset Management. |
| Who are Health IQ's investors? | Health IQ's investors include First Round Capital, CRV, Andreessen Horowitz, Foundation Capital, Western Technology Investment, Greenspring Associates, Menlo Ventures, Aquiline Technology Growth, Felicis, Ribbit Capital and 3 others. |
| Which companies are comparable to Health IQ? | Companies comparable to Health IQ include Pear Video, Wirtualna Polska, Steven.com, iQiyi Sports, Sichuan Newsnet Media and Value Line. |
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