First dollar is an Austin-based health wallet that members-first plans can use. It closed a $14M Series B funding round.
Blue Venture Fund led the round, which also included existing investors Next Coast Ventures, Meridian Street Capital, and angel investors Zus Health CEO Jonathan Bush and Everly Health CEO Julia Cheek. RPM Ventures managing director Marc Weiser, Patientco CEO Sean Joyce, Decent CEO Nick Soman and Firefly Health CEO Fay Rotenberg participated in the round. Bright Health Group CTO Brian Gambs was also involved.
The company plans to use the funds to expand its Wallet platform to include additional benefit types, embedded UX widgets, and member workflows.
First Dollar, led by Jason Bornhorst as CEO, is a health wallet that members can use to pay for their member-driven plans. Modern health plans such as Sidecar Health, Kind Health and Decent Health were among the first customers. The company’s payments infrastructure supports tax-advantaged accounts and additional benefits, including HSAs, FSAs, prepaid grocery, and Rx programs.