Connecture, Inc.

Connecture, Inc. , based in the US, specializes in health technology solutions that streamline the Medicare enrollment process for health plans, agents, and consumers, enhancing transparency and user engagement in healthcare services. Connecture, Inc. is a health technology company that focuses on improving Medicare enrollment services.

Founded in 1999 and headquartered in Milwaukee, US, the company pivoted towards technology solutions for the healthcare market. Sam Harjung, the founder, has a background in health technology and has been integral to the company’s growth. The company raised USD 52. 10 mn in its latest funding round, transitioning from a public to a private entity.

The most recent deal occurred on December 12, 2014, with Francisco Partners being a key investor, and the total amount raised by the company is USD 52. 10 mn. ConnectureDRX offers a range of Medicare enrollment and drug transparency technologies designed to simplify the shopping experience. Key products include the PlanCompare suite with PlanCompare ONE for large health plans and PlanCompare Edge for smaller agencies.

The Active Analytics technology provides real-time data insights to its users, enhancing member engagement. The company's clientele spans health insurance carriers, financial organizations, and individual agents, focusing primarily on the U. S. Medicare market, which includes various plan types such as MA, MAPD, MedSupp, and PDP.

For the year 2017, ConnectureDRX reported a revenue of USD 76. 75 mn, with an EBITDA amounting to USD -7. 33 mn. The company operates on a B2B model, generating revenue through partnerships with over 160 health insurance carriers, utilizing a subscription model and service agreements to provide access to its technology solutions for Medicare shopping, quoting, and enrollment.

Connecture, Inc. plans to utilize the recent funding to expand its product offerings and market reach. The company is focusing on the development of new products aimed at enhancing Medicare solutions, with specific timelines for releases still under consideration. Additionally, Connecture aims to enter new geographical markets, targeting expansion in key regions across the US.

Following the deal in January 2018, where Francisco Partners agreed to acquire the company, they are expected to leverage this backing to drive further growth and innovation in their operations.