Bind On-Demand Health Insurance is a technology company.
Bind On-Demand Health Insurance has raised $120.0M across 2 funding rounds.
Bind On-Demand Health Insurance has raised $120.0M in total across 2 funding rounds.
Bind On-Demand Health Insurance has raised $120.0M in total across 2 funding rounds.
Bind On-Demand Health Insurance's investors include Ascension Ventures.
Bind On-Demand Health Insurance, founded in 2016 and now operating as Surest under UnitedHealthcare, builds a technology platform that administers on-demand health insurance for self-funded employers.[1][2][5] It serves mid-to-large U.S. employers (51+ employees) and their workers by offering core coverage—including primary/specialty care, preventive/emergency/hospital care, chronic/pharmacy/maternity/cancer needs—with no deductibles, pre-existing condition restrictions, or coinsurance, plus optional add-ins for procedures like knee replacements purchasable anytime via app or website.[1][2][4][5] This solves the complexity, unpredictability, and high costs of traditional insurance by providing transparent upfront pricing, empowering employees to compare providers, choose high-value care, and avoid expensive options like ER visits, helping employers cut costs by 10-15% while boosting clinician transparency.[1][3][4] With $441 million in 2025 revenue, $165 million in funding, and 322 employees in Minneapolis, Bind/Surest shows strong growth, including 10x virtual visit uptake and 6% fewer ER visits versus benchmarks.[2][5]
Bind was founded in 2016 in Minneapolis, Minnesota, by a team led by CEO Hayden Miller, who previously co-founded and led Definity Health—a pioneer in consumer-driven benefits acquired by UnitedHealth for $300 million in 2004.[1][2][3] The idea emerged from rethinking insurance for an "on-demand world," inspired by streaming services like Sling, to make coverage modular and transparent amid rising U.S. healthcare costs.[1][2] Early traction came quickly: Dove Healthcare (skilled nursing/assisted living) was the first employer adopter, followed by Slumberland Furniture, proving the model for self-insured groups.[1] By 2022, UnitedHealthcare acquired Bind, rebranding it Surest—its fastest-growing employer plan—accelerating national rollout while retaining the core innovation.[5][6]
Bind/Surest stands out in health insurance through these key features:
Bind/Surest rides the consumer-driven health insurance trend, disrupting a stagnant managed care field with on-demand tech amid U.S. healthcare's $4+ trillion spend and employer self-funding shift (over 60% of large firms).[1][4][5] Timing aligns with post-ACA demands for transparency, rising premiums, and digital health adoption—fueled by apps simplifying opaque pricing, much like Uber for rides or Netflix for media.[1][2][3] Market forces like clinician networks' push for direct-to-consumer pricing and employers' cost pressures (10-15% savings) favor it, while UnitedHealthcare's scale amplifies reach to 1.5M+ providers.[1][5][6] It influences the ecosystem by normalizing deductible-free, modular plans, spurring competitors like Oscar or Clover, and proving tech can humanize insurance for 322M Americans.[2][4]
Surest is poised to expand as UnitedHealthcare's growth engine, targeting more self-funded employers with level-funded/fully-insured options and leveraging Optum's data for AI-driven personalization.[5][6][7] Trends like virtual care boom, value-based pricing mandates, and Gen Z's on-demand expectations will propel it, potentially capturing larger shares of the $1T employer market amid regulatory pushes for transparency.[5] Its influence may evolve from disruptor to standard-setter, redefining benefits as flexible "health subscriptions"—echoing its origins in rewiring insurance for a digital era, delivering smarter, simpler care at scale.[1][2]
Bind On-Demand Health Insurance has raised $120.0M across 2 funding rounds. Most recently, it raised $110.0M Series B in October 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2020 | $110.0M Series B | Ascension Ventures | |
| Jun 1, 2018 | $10.0M Series A | Ascension Ventures |