Lively scores $27m in Series B led by Costanoa

Lively, a modernized health savings account platform, has scored $27m in its Series B round which was led by Costanoa Ventures

Additional support to the round came from Ally Ventures, Liquid 2 Ventures, PJC, Teamworthy Ventures, Streamlined Ventures, and Y Combinator.

Capital from the round will be used to expand Lively’s HAS experience by further investing into its technology, expanding its consumer tool offerings, and increasing its professional teams.

US-based Lively is a health savings account which helps consumers optimise their healthcare spending, improving their future financial lives.

Earlier in the year, Lively launched a new mobile app which improves accessibility to its health savings tools. Users can manage their account through the mobile app, with the ability to check their balance, see recent transactions, manage debit cards, and more.

Lively CEO and co-founder Alex Cyriac said, “Healthcare continues to be the number one reason Americans go into debt. We are committed to creating a better financial future by revolutionizing the healthcare savings experience, and we know HSAs are an unparalleled savings vehicle.

“We couldn’t be more excited to use this funding to expand our offerings and strengthen our product for our customers. This will ensure employers will have the most robust option to help their employees save for the future.”

Following the Series B round, the FinTech company has raised a total of $40m in equity. Last year, Lively nabbed $11m in its Series A round which was also led by Costanoa Ventures

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