Take Command, a Dallas-based SaaS platform specializing in employer-sponsored personalized health benefits, has secured $25 million in growth stage financing. Edison Partners led the funding round, with participation from existing investors LiveOak Venture Partners and SJF Ventures.
Take Command is a pioneer in the growing field of individual coverage health reimbursement arrangements (ICHRAs). Their platform offers end-to-end ICHRA administration and access to an individual health marketplace, providing an alternative to traditional group health insurance. ICHRAs provide employees with a tax-free stipend that they can use to select their preferred health plan, offering more choice and flexibility compared to traditional group plans.
This approach saves employers an average of 10-20% in costs while empowering employees to choose plans that suit their needs. ICHRAs have gained popularity, with over 10,000 employers adopting this benefits model since its inception in 2020, representing 355% growth. Take Command serves companies of all sizes, from small and medium-sized businesses using ICHRAs to enhance recruitment and retention to large employers using them to control costs and improve participation rates.
The funding will help Take Command expand its infrastructure, go-to-market strategy, and payment functionality across its platform. It will also support the development of new marketplace offerings.
Gregg Michaelson, General Partner at Edison Partners, will join Take Command’s board of directors. The funding will enable Take Command to continue leading the transformation of health benefits in the employer-sponsored space.
Jack Hooper, Founder and CEO of Take Command, expressed excitement about the partnership with Edison and the company’s ability to meet the growing demand for ICHRAs as more companies adopt this benefits model.
