In a world where employer-sponsored health coverage has felt about as modern as dial-up internet, SureCo just turned the volume up. The Santa Ana–based health benefits technology company announced a $23 million Series A led by Health Velocity Capital with Kaiser Permanente Ventures joining in. For those watching the Individual Coverage Health Reimbursement Arrangement space, ICHRAs, this is not just another round of capital. It’s a signal that the old group health model is about to face some serious competition.
The story goes back to 2020, when Matthew Kim, a benefits consultant who grew tired of watching premiums balloon and employees get stuck in cookie-cutter plans, co-founded SureCo. His idea was simple but sharp: give employers a way to fund health coverage without being locked into group plans, and let employees buy individual-market policies that actually fit their lives. It’s not disruption dressed up in buzzwords, it’s common sense finally given a real platform.
And what a platform it is. This isn’t lightweight HR software that buckles under scale. It’s built on React, Node, and Postgres, running on AWS with SOC 2 Type II certification, HIPAA compliance, carrier integrations, and HRIS connections that actually sync with systems like Workday and ADP. Employers finally get predictability, employees get choice, and brokers, often the most overlooked players, get a tool that makes them indispensable in a market shifting fast.
What makes this raise compelling is the strategic alignment. Health Velocity Capital brings LP coverage that touches 175 million Americans, while Kaiser Permanente Ventures isn’t just betting on SureCo, it’s acknowledging that ICHRAs are about to move mainstream. Employers are catching on too: forty-four percent of companies with 150 to 2,500 employees are evaluating ICHRA adoption for 2026, up from near zero just five years ago. That’s a surge few industries ever see, and SureCo is positioned right in the middle with dozens of enterprise clients and partnerships with eight of the ten largest brokerage firms.
The leadership is stacked to make the most of this momentum. Matthew Kim drives the vision, Erik Wissig keeps the engine tight as CFO and COO, and Tom Mafale brings decades of revenue leadership from UnitedHealthcare, Aetna, and Paradigm. Together they’re hiring 50-plus roles, building a mobile app, expanding analytics to forecast costs like a trading desk, and scaling a service center already known for responsiveness in an industry famous for hold music.
This is what happens when a company names itself SureCo and then delivers certainty in a space built on uncertainty. With a $100 billion-plus large-group benefits market bracing for change, this round isn’t just fuel, it’s a marker that SureCo is setting the pace.
