PlanSource announced Monday it will use the funds to invest in innovation and expand.
Two principals with Great Hill, Chris Busby and Matthew Vettel, will join the PlanSource Board of Directors.
Based in the downtown Church Street Exchange Building, PlanSource is growing fast via acquisitions and organic growth. It acquired California-based ClearBenefits in March 2015.
PlanSource has been delivering tools to help ensure compliance with the Affordable Care Act. Its benefits administration system, which can be run by employers or set up as a private or public health exchange, allows consumers to shop for benefits.
PlanSource says it has more than 8,000 employers and 3.5 million on its platforms.
Date: August 24, 2015