League announced the kickoff of its US expansion, with plans to be in the top 10 US metro areas by summer 2018.
The company already had a presence in Chicago, and is now live in Illinois and Washington states. Brian Ancell has joined the company as its US president, and has experience in the healthcare space as president of Welltok and executive VP of Premera Blue Cross.
“League is changing an antiquated industry by putting more access and control in the hands of the consumer and creating a product that is tailored to their unique health and wellness needs,” said Mike Serbinis, founder and CEO of League.
Speaking with The Globe and Mail, Serbinis said that if the US expansion goes well, it plans to pursue a $100 million USD funding round by early 2018.
The startup has been demanding the attention of the insurance world since its $25 million USD Series A in June 2016, which included Power Financial, RBC, and Manulife as investors.
League announced a partnership with RBC in October 2016 to expand its underwrite offerings, having gone through a competitive process with 16 to 18 carriers.
Serbinis told the Globe that League has been signing larger enterprises, and recently added an Ontario company with close to 10,000 employees.
League has between $40 million and $50 million in annualized contract billings, and wants to end 2018 in the $1 billion range — a goal he’s been alluding to since December 2016.
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