Truemed has raised a Series A funding round led by Andreessen Horowitz, with participation from Bessemer Venture Partners, Long Journey Ventures, BoxGroup, and Trust Ventures. The company is focused on reshaping how Health Savings Accounts and Flexible Spending Accounts are used, positioning them as tools for preventive, lifestyle-based care rather than purely reactive healthcare spending. Truemed’s platform connects clinically supported lifestyle interventions to qualifying medical conditions through a clinician-led eligibility process, including independent provider evaluations for Letters of Medical Necessity. The company works with more than 3,000 merchant partners, including Peloton and Nike, and has reported triple-digit year-over-year revenue growth.
The funding will support Truemed’s efforts to expand access to preventive care at a time when most healthcare spending remains reactive, even as a majority of Americans live with at least one chronic condition. Founder and Chief Executive Officer Justin Mares said the company aims to make preventive spending a practical, everyday use of pre-tax health benefits. “Combining the world’s top portfolio of preventive products with a tech solution for the HSA/FSA process will help us go beyond a focus on sick care,” Mares said.
