Czech startup TrueClaim raises $2.1M in a pre-seed round

TrueClaim, a Czech-founded and US-based startup that helps to save on health insurance costs, has raised around $2.1 million in its opening round. Kaya VC, Y Combinator, Rebel Fund, Surge Point Capital, Orange Collective, Liquidity, and Explorer Fund participated in the investment.

  • Co-founded by Bobby Bayer and Barbora P Howell, TrueClaim automates healthcare cost savings for self-insured companies using medical claims and price transparency data. TrueClaim continuously reviews 100% of healthcare invoices to detect billing errors, pharmacy and care savings opportunities.
  • According to the company, TrueClaim has identified an average of 10.96% savings opportunities in the $20.2 million worth of medical claims it reviewed since January. In addition, the startup also offer a cost recovery service with a 3x ROI guarantee.

Our software uses newly available healthcare data to save self-insured companies 7% in healthcare costs. It may not seem like a lot, but given that health insurance can cost thousands of dollars a year, this savings can be significant for a small business or startup,

TrueClaim’s team commented.

Who participated in the investment round:

  • Kaya VC, a Czechia-based venture capital firm investing in founders from Central and Eastern Europe, and, predominantly, Czechia;
  • Y Combinator, a prominent US-based accelerator, and Orange Collective, its alumni investment club;
  • Rebel Fund, a venture capital firm based in San Francisco, California;
  • Surge Point Capital, a venture capital firm based in New York, USA;
  • Explorer Fund, a Stanford-based VC fund, investing up to $100,000 in pre-seed founders.

The startup plans to use the investment for the product development and distribution.