Zipari Announces Strategic Growth Investment from Thoma Bravo and Combines with Healthx to Create an End-to-End Consumer Experience Platform for Healthcare Payers

By AIT News Desk On Dec 21, 2020

Zipari, the company behind the first and only consumer experience platform built specifically for health insurance, announced a strategic growth investment from Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sector. Through this investment valuing the company at more than half a billion dollars, Zipari will combine with Healthx, a provider of trusted healthcare engagement technologies, to create the leading CX platform and solutions for health insurance payers and third-party administrators. Mark Nathan, Founder and CEO of Zipari, will continue to lead the business. The company will remain headquartered in Brooklyn, New York.

Zipari will now serve nearly 200 clients with a suite of more than 20 products designed to help payers lower healthcare costs and improve ROI by ensuring an efficient and meaningful connection between payers, members and providers.

Through its investment and expertise in healthcare IT, Thoma Bravo expects to play a central role in accelerating Zipari’s growth strategy. Thoma Bravo will partner with Zipari to strengthen client success and delivery, broaden the company’s products and solutions, drive faster innovation and further expand the company’s combined customer base.

“This is an exciting day for Zipari and the culmination of six years of evolution and innovation for healthcare payers. We are very excited to begin our next chapter of growth,” said Mark Nathan, CEO of Zipari. “I’m especially excited to welcome new colleagues from Healthx and the talent and expertise they bring to our combined company. This transaction opens up new opportunities for our clients and enables payers and TPAs of all sizes to create breakthrough experiences for their consumers. We look forward to working closely with Thoma Bravo as we develop a strategic roadmap for integration and migration that advantages our clients and addresses the diverse needs of the marketplace.”

“We are excited to join Zipari and move our common mission forward,” said Mark Rapoport, Healthx CEO. “This combination will offer our clients the most comprehensive platform in the market and our team looks forward to working together to deliver just that.”

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“At a time when healthcare accessibility is so important, the combination of two premier healthcare IT platforms will allow payers to have the technology they need to improve health outcomes and deliver great experiences for their consumers,” said AJ Jangalapalli, a Principal at Thoma Bravo. “We look forward to applying Thoma Bravo’s capital and significant experience in healthcare technology to support Zipari as it continues to grow and deliver innovative products to its newly expanded client base.”

“We are thrilled to be partnering with Zipari at this pivotal moment in the company’s growth journey,” said Hudson Smith, a Partner at Thoma Bravo. “This strategic growth investment represents a powerful combination of industry leading healthcare IT platforms that drive better consumer experiences in healthcare.”

“Zipari has been at the forefront of innovation in consumer experience for healthcare payers for years,” said Saurabh Bhansali, a Partner at Health Velocity Capital. “We are eager to continue our partnership with Mark and his team, as well as with Thoma Bravo to keep solving some of the toughest challenges facing payers and consumers today.”

Dave Schwab, Founder and Managing Director of Vertical Venture Partners, an original investor in Zipari added, “Zipari’s success illustrates the power of a vertical cloud solution, built specifically for the payer market.”