We are excited to announce our investment in Bend Financial, a modern Health Savings Account (HSA) platform that will revolutionize how individuals manage their healthcare expenses. When we came across this outstanding team, in a market that is ripe for disruption, we knew we had to be a part of what the company was building.
The experienced team at Bend is hyper focused on not only changing how consumers interact with healthcare spending, but also on simplifying the employers experience of offering an HSA. The team is led by serial entrepreneur, Tom Torre, who impressed us with his expertise in building businesses in both financial services and healthcare. Tom co-founded the company with strong leaders in different disciplines including technology veteran Gary Rush, corporate finance leader Gregg Santabarbara, and consumer healthcare experience expert Kerry Leonard.
HSA accounts have become an essential part of the healthcare system with the proliferation of High Deductible Health Plans, yet consumer experience has not changed and managing expenses has only gotten more complex. Enrollment has grown rapidly over the last few years and total enrollment is expected to reach 30M by 2020. Additionally, consumers are taking control of their overall healthcare experience and managing healthcare spending. The founders understood that the financial burden of healthcare is shifting to the individuals and that tools are needed to help people navigate the complexities of healthcare costs. We are confident that Bend will become a key part of this solution.
We are thrilled to be working alongside such great team and look forward to building a market-leading HSA solution that is easy for everyone to use.