Level
“Can employer benefits infrastructure be rebuilt as embedded financial products that give employees and employers real-time, flexible control over healthcare spending?”
Founded2018
HQNew York, New York, USA
Total raised$27M+ (Series A disclosed; Series B referenced)
Latest roundSeries B
Valuationnine-figure (Series A, 2021)
IndustryVertical SaaS / Healthcare
The story
Founded in 2018, Level set out to rebuild employer benefits and insurance infrastructure by offering flexible networks, real-time claims, and customizable plan design to employers. The company positions itself as a technology company making financial products for employers, with a focus on enabling employees to access and spend their benefit dollars more efficiently. Level has attracted backing from top-tier VCs and has grown to a reported 101-250 employees, operating at the intersection of embedded insurance and employer benefits fintech.
Last 12 months
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Product timeline
2018
Level founded in New York City as a technology company building financial products and flexible benefits for employers.· pivot
2021
Raised $27M Series A led by Khosla Ventures and Lightspeed Venture Partners to rebuild insurance and employer benefits from the ground up.· banking
The stack
2 layers disclosed in Level’s embedded-finance stack
Banking / BaaS
Sponsor bank
in the full report
Accounting gap: none
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.