As we move on from a record-breaking AEP, I’m proud to formally announce our Series A funding led by American Family Ventures. This brings our total funding to $18.6mm and enables us to continue empowering Medicare beneficiaries and the independent agents who serve them.
2022 was a banner year. Spark grew our agent partners 7x (from 190 to 1,300) and Medicare enrollments 10x (from 2k to 20k in the last twelve months), serving 50k+ Medicare beneficiaries along the way.
It took the effort of now 40 full-time Spark teammates and over 30 agency principal partners across Texas, Florida, New York, California, and 20 other markets to get there. We launched a fully-integrated CRM and quote & enroll platform, a white-labeled retention marketing program, on-demand client service available to all our agent partners, and a strategic partnership with one of the largest value-based provider groups in the country.
We started Spark to supercharge local, Medicare field agents because we know they do more than enroll clients into plans. Agents help their clients navigate low income subsidy applications, Medicaid certifications, surprise medical bills, and finding in-network providers. Clients know their agent by name and often stay with them for a decade or more - I can’t tell you how many birthday parties, family gatherings, and other life events our clients have invited us to.
Unfortunately, it took the pandemic, thousands of compliance infractions, and abysmal churn rates for the industry to realize that the future lies not with large public company call centers or private equity-backed roll-ups, but with the independent agents in local communities who are experts at what they do.
By building the largest network of technology-enabled field agents in the industry, Spark is becoming the only growth channel that can seamlessly connect health plans, providers, and local agents to deliver a coordinated, longitudinal member experience.
With our funding and explosive growth momentum, Spark is gearing for an even bigger 2023. To help ring in this next chapter, I’d like to formally welcome Sam Wiener to our team as our Executive Vice President of Growth.
Sam previously led the growth team at Oscar, growing the carrier to 1mm+ members with the help of 10K+ broker partners over 5 years. I could not think of a better leader bringing deep sales & marketing expertise, empathy for the broker community, and a commitment to our values and mission. Welcome aboard!
If you’re an agency looking to accelerate your business, a carrier seeking better member growth and retention solutions, or a provider group who wants to serve patients with real Medicare experts, get in touch. We’d love to work with you.
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