Simplee

Simplee was founded in Palo Alto, California in 2010 by Tomer Shoval (CEO), Roberto Rabinovich (COO), and Tom Tsarfati (CTO). According to the company's own origin story (as documented on Wikipedia), Shoval -- then working at eBay -- was inspired to start the company after a 2009 family trip to Mexico led to confusing medical bills and insurance paperwork back home. The company (legally incorporated as Simplificare, Inc., in Delaware) set out to build a 'financial engagement platform' that would give patients a modern, consumer-grade experience for understanding and paying medical bills, mirroring the self-service billing experiences patients were used to from consumer finance and e-commerce.

Simplee raised an approximately $1.8 million angel/seed round in 2011 led by Greylock IL, Greylock Partners' Israel-focused early-stage fund (which itself spun out of Greylock in 2015 to become the independent firm 83North). The company launched its first product, SimpleeONE, a consumer app for tracking medical expenses, in 2011. In 2012 it raised a Series A (SEC Form D records show $7.73M sold, first sale dated May 10, 2012; Wikipedia cites the round as $6M led by Social+Capital Partnership) and launched SimpleePAY, an enterprise platform letting healthcare providers offer patients online bill payment. In September 2013, Simplee raised a $10 million Series B (SEC Form D, first sale dated September 16, 2013), reportedly led by The Heritage Group. Directors named across the 2012 and 2013 SEC Form D filings included Tomer Shoval, Tilli Kalisky (later Tilli Kalisky-Bannett, Managing Partner at SVB Capital), Ted Maidenberg (then a partner transitioning from U.S. Venture Partners to Social Capital), Roberto Rabinovich, and a director surnamed Wallace (listed as 'Paul Wallace' on the 2013 Form D and as 'William Wallace, Managing Principal at Paligen Capital' on Crunchbase -- a discrepancy that could not be fully resolved from available sources).

By 2015 Simplee had expanded its 'Financial Engagement Platform' with SimpleeESTIMATE (pre-service cost estimation) and SimpleeCREDIT (patient financing), and reported that SimpleePAY was processing more than $1 million per day in patient payments, with an annualized run rate exceeding $1 billion. The company cited results with health-system customers such as Memorial Hermann Healthcare System (a reported 53% increase in self-service payments and 23% reduction in collection costs), as well as relationships with El Camino Hospital, Gundersen Health System, and Cardinal Health. Simplee also won Webby Award recognition in 2012, 2013, and 2015, a Fierce Innovation Award in 2014, and reportedly received an endorsement from the American Hospital Association. Crunchbase records a fourth and final funding round, a Series C led by Social Capital with 83North (Greylock IL's successor fund) also participating -- exact date and amount were not independently verifiable in the sources reviewed, though total disclosed funding across all rounds is reported at approximately $37.7 million.

Business model

B2B SaaS sold to hospitals and health systems (enterprise contracts), with the platform presented to patients as a free consumer-facing billing/payment experience

Software licensing / subscription and transaction-based fees charged to healthcare provider customers for the patient billing and payment platform