NFP Ventures Invests in Nubundle Inc., Insurance and Lending Support for Fertility Services
NEW YORK, Nov. 20, 2018
NEW YORK, Nov. 20, 2018 /PRNewswire-PRWeb/ -- NFP Ventures, the early-stage investment arm of NFP, today announced a minority investment in Nubundle Inc. (Nubundle), the nation's first holistic family planning and fertility services company. The transaction closed on Nov. 9, 2018.
Nubundle's mission is twofold: to make family planning and fertility care accessible to all, and to redefine employers' relationships with families by providing family planning concierge support, access to a premium network of fertility clinics with bundled discounts, and financial support through insurance. In most states, health insurance does not cover fertility treatments, yet the average cost of in vitro fertilization (IVF) treatments continues to increase. Also on the rise – the age in which individuals are starting families, creating even more of a demand for IVF. The gap in adequate financial support makes starting a family a nearly unattainable dream for many. Reproductive Medicine Associates of New Jersey's 2018 Infertility Trends National Survey reveals less than 20 percent of respondents have access to employer-provided fertility treatment benefits, and 57 percent indicate they would change their place of employment for better treatment options. To retain valuable employees, now is the right time for solutions like Nubundle. This investment reflects NFP's commitment to offering clients innovative solutions and products that address a known need and lessen cost barriers.
"NFP provides solutions that better employees' lives personally as well as professionally. For many, a deeply personal goal is starting a family, a process that has become increasingly costly and confusing when fertility treatment is required," said Shawn Ellis, managing director of NFP Ventures. "We are thrilled to invest in Nubundle, a market entrant that is innovating the family planning and fertility space. We believe in access to affordable and all-encompassing benefits packages that provide for employees, their families and future family members."
"In the goals of lowering costs, increasing quality of care and boosting social outcomes, NFP and Nubundle are completely aligned," said Mike Goldman, president and COO of NFP. "Given the lack of product innovation within health plan design and the costs associated with IVF and other treatments, Nubundle represents a truly differentiated offering for employers and consumers."
"NFP's understanding of the health and benefits space is unparalleled — we couldn't be more thrilled to have their counsel on our go-to-market strategy," said John Ciasulli, co-founder and CEO of Nubundle. "Starting a family is a milestone – one of the great moments in an individual's life – and with NFP's help, we can make this a more inclusive experience for all by increasing education and the number of treatment, financing and insurance options while keeping the emphasis on patient care."
For more information, please visit https://www.nubundle.com.
Nubundle helps employers redefine their relationships with families through benefits by providing access to family planning and fertility services. Nubundle offers a platform that provides access to an experienced network of family planning and fertility experts, affordable fertility services, and just-in-time insurance.
About NFP Venture, LLC.
NFP Venture, LLC. (NFP Ventures) is a venture fund launched by NFP that focuses on strategic partnerships and investments in the emerging Insurtech, Fintech and HR Tech arenas. NFP Ventures' mission is to find, fund and work successfully with visionary executives, providing them with expertise to foster long-term success. Typically, NFP Ventures targets companies seeking Seed to Series B investment that can benefit from NFP's distribution, human capital and other unique assets to accelerate their growth.
NFP is a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates. Our expertise is matched by our commitment to each client's goals and is enhanced by our investments in innovative technologies in the insurance brokerage and consulting space.
NFP has more than 4,700 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients' needs. We've become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.
Recently NFP was named the 2nd largest retirement plan aggregator firm, as ranked by Investment News; the 5th largest US-based privately owned broker, the 5th best place to work in insurance and the 6th largest benefits broker by global revenue by Business Insurance; the 9th largest property and casualty agency by total 2016 P&C revenue and the 9th largest commercial lines agency by total 2016 P&C and commercial lines revenue by Insurance Journal; the 10th largest employee benefits broker by Employee Benefit Adviser; the 11th largest broker of US business by Business Insurance; and the 12th largest global insurance broker by Best's Review.
For more information, visit NFP.com.
SOURCE NFP Corp.