VBA, a Milwaukee, WI-based provider of cloud-based benefits software for healthcare payers, closed $156 million in growth funding.
The round was led by Spectrum Equity, with participation from existing investor Arthur Ventures. Jeff Haywood and Michael Radonich from Spectrum Equity will join the board.
VBA caters to the entire payer landscape, empowering healthcare payers with cloud-based software solutions that replace outdated legacy systems. VBA serves the entire payer landscape with its next-gen Core Administrative Processing Solution (“CAPS”), user engagement platforms, customer support tools, population health reporting solution, and robust data connections.
“At a time when increasing complexity of plan administration is straining current legacy systems, payers are turning to VBA to help them solve major challenges, from optimizing workflows to responding to customer needs.” said Michael Clayton, President, and CEO of VBA. “We are delighted to bring on Spectrum Equity as a partner. Their success scaling other healthcare technology and enterprise software companies will be an asset to us as VBA enters its next phase of growth.”
Round: Growth Funding
Funding Month: August 2023
Lead Investors: Spectrum Equity
Additional Investors: Arthur Ventures
Company Website: https://vbasoftware.com/
Software Category: Benefits Software
About the Company: VBA is a healthcare technology company providing comprehensive software solutions for healthcare payers. VBA provides a suite of technology solutions for core benefits administration. These include CAPS (VBASoftware), user engagement platforms (VBAGateway), customer support tools (VBAVoice), population health reporting solutions (VBAnalytics), and robust data connections (VBAPI).