FSAstore.com is a technology company.
FSAstore.com has raised $2.0M across 1 funding round.
FSAstore.com has raised $2.0M in total across 1 funding round.
FSAstore.com is an e-commerce platform launched in 2010 that operates as the largest online marketplace for guaranteed FSA-eligible products, offering over 6,000 items alongside educational resources to help users manage flexible spending accounts (FSAs).[1][3][7] It serves consumers with employer-sponsored FSAs—pre-tax accounts for health expenses—by solving the problem of $500 million in annual forfeited funds through zero-guesswork shopping, auto-substantiation for FSA cards, and tools like eligibility lists and calculators.[1][3][4] The company, based in New York with 51-200 employees, has shown strong growth, ranking #235 on Deloitte's 2017 Technology Fast 500 for the second year based on 2013-2016 revenue growth, driven by branding, product diversification, and user experience improvements.[2]
FSAstore.com was founded in 2010 by Jeremy Miller, who drew from his prior experience managing HR and FSA accounts, where he encountered widespread confusion around eligibility and usage.[1][2][4] Recognizing the need to simplify a fragmented market—where consumers often forfeited funds due to uncertainty—the company launched as the first e-commerce site dedicated exclusively to 100% FSA-eligible products.[1][4] Early traction came from building a comprehensive eligibility list and educational content; pivotal moments include a 2017 website revamp, new Learning Center launch, office relocation to NYC's Garment District, key hires, and partnerships with manufacturers and administrators, fueling Deloitte Fast 500 recognition.[2][6]
FSAstore.com rides the trend of consumer-directed health plans and fintech-enabled benefits management, simplifying FSAs amid rising healthcare costs and "use-it-or-lose-it" rules that lead to massive annual forfeitures.[1][3][4] Timing aligns with post-ACA shifts toward tax-advantaged accounts (FSAs, HSAs), mobile portals, and e-commerce for health products, amplified by 24/7 digital tools that mirror broader FSA admin apps.[5] Market forces like employer benefits competition and OTC eligibility expansions favor it, positioning FSAstore.com as an ecosystem influencer by educating users, partnering with admins/vendors, and driving FSA adoption—reducing friction in a $30B+ annual FSA market.[2][3]
FSAstore.com's momentum—evident in sustained growth, tool expansions, and Deloitte accolades—positions it to capture more of the evolving FSA/HSA space amid hybrid work and wellness trends.[2][7] Next steps likely include further product diversification, AI-driven personalization for eligibility/tools, and deeper integrations with employer platforms to combat forfeitures. As health fintech matures, its influence could expand via B2B partnerships, solidifying its role as the go-to for seamless, tax-free spending and returning to its core mission of zero-guesswork flex spending.[1][4]
FSAstore.com has raised $2.0M in total across 1 funding round.
FSAstore.com's investors include Activate Venture Partners.
FSAstore.com has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Series A in October 2012.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2012 | $2.0M Series A | Activate Venture Partners |