Funding profile · Health plan administration

TrueClaim

About $2.1 million reported into a Y Combinator Winter 2024 company that now administers self funded employer health plans. No Form D exists to confirm it, and no round has been reported since 2024.

$2.1MReported pre seed, 2024, per two trade reports
0Form D filings on SEC EDGAR by the operating company
2State TPA registry entries located, North Carolina and South Dakota
$50MClaims processed through the platform, company-reported

Data as of September 22, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
Winter 2024 Y Combinator batch Not disclosed Y Combinator, group partner Gustaf Alstromer YC data
Apr to May 2024 Pre seed, as reported About $2.1M Kaya VC, Y Combinator, Rebel Fund, Surge Point Capital, Orange Collective, Liquidity, Explorer Fund Independent
Feb 2024 Same sum, different date $2.1M Led by Y Combinator, adds LUMUS Investment Collective Aggregator
Apr 30, 2024 Labeled Seed elsewhere $2.1M, one round 6 investors in the round, 7 institutional investors recorded Aggregator
Feb and May 2024 Two rounds, third account $2.0M plus $2.1M, $4.1M total Y Combinator, then Kaya, Liquidity Capital, Orange Collective, Rebel Fund, Surge Point Capital, The Explorer Fund Differs
To Sep 2026 No later round None on record None announced Not found

What the filings show

TrueClaim Technologies, Inc. · Form D · none on file

Search run
EDGAR full text and company search, Sep 24, 2026
Registrant
None named TrueClaim Technologies
CIK
None assigned
Offerings
No Regulation D notice for the reported 2024 round
Reading
Consistent with SAFEs or notes placed under Section 4(a)(2), which requires no Form D

TRUECLAIM EXPLORATION INC. · Form D · filed Apr 19, 2013

Filer
CIK 0001574553, accession 0001085037-13-000043
Later filing
NEW WAVE HOLDINGS CORP., Form D, Jan 18, 2022, same CIK
Business
Mineral exploration registrant, renamed in 2022
Relevance
None. A name collision, and the only EDGAR hits a name search returns

Reading the filings

  1. The round is reported, not filed.Startup Kitchen on May 1, 2024 and The SaaS News on May 2, 2024 both report about $2.1 million with the same investor list. No Form D corroborates it. A Form D is required only for offerings under Regulation D, so a SAFE or equity round placed with accredited investors under Section 4(a)(2) leaves no notice at all. Normal at this size, and it also means the number cannot be checked against a filing.
  2. The totals do not reconcile.One tracker reports $4.1 million across two rounds, $2.0 million in February 2024 plus $2.1 million in May 2024. Two others record a single $2.1 million round, one dated February 2024 and one dated April 30, 2024. The likeliest reading is one round counted twice under two dates and two labels, but nothing public settles it.
  3. More than two years without a new round.The last reported financing closed in 2024 while headcount roughly doubled, from a YC listed team of 10 to 21 tracked in September 2026. A services business that adds people without a reported round is revenue funded, quietly funded, or running lean.
  4. The gate is licensure, not the cap table.TrueClaim Technologies, Inc. of 53 Coleridge Street, San Francisco appears in the North Carolina TPA directory with status Registered and on South Dakota’s July 2025 TPA listing. North Carolina registers rather than licenses administrators serving only ERISA preempted plans. Each further state is a filing, a fee and often a surety bond, which is both a real cost of expansion and a public marker of it.
  5. The customer side is unverified.The company reports $50 million in claims processed and 7 percent average savings. No employer client is named anywhere public, and no Form 5500 Schedule C entry naming TrueClaim was located. Small welfare plans are largely exempt from Form 5500, so the channel that usually names a service provider does not reach this segment.
  6. The capital gap is wide.Centivo, a venture backed competitor for self funded employers, started in 2017 and reported about 77,000 members from 160 businesses in May 2025, backed by Bain Capital Ventures and Morgan Health. TrueClaim is in the same category on about $2.1 million.

Commercial signals

Signal Detail Source type
Regulatory North Carolina TPA directory, status Registered. South Dakota TPA listing, July 2025. No other state entry located. Public record
Risk position A TPA is paid a fee and bears no claims risk. The employer is the ERISA plan sponsor and fiduciary and pays every covered claim. Public record
Volume $50 million in claims processed through the platform. Company-stated
Pricing outcome 7 percent average savings delivered; 10.96 percent identified across $20.2 million reviewed in 2024; 20 to 30 percent with benefits design changes. Not independently audited. Company-stated
Customers No named employer client. Not found
Partner Rezilient Health care access partnership, Jan 6, 2025. Partner-stated

What to watch

  • A first Form D, due within 15 days of first sale if the next round uses Regulation D.
  • New state TPA registry entries, the cheapest public proxy for commercial expansion.
  • A named employer customer or a dated member count.
  • Whether the company discloses its own compensation as a covered service provider under the CAA amendment to ERISA section 408(b)(2), given it markets on that law.
  • Any state examination, bond call or enforcement action, which for a TPA is the failure mode that matters.

The TrueClaim story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Sohar Health: Shared investor: Rebel Fund. An API that tells a behavioral health clinic, in about six seconds, whether a patient’s insurance will actually pay
  • Avelis Health: Shared investor: Rebel Fund. A Y Combinator startup that started by fighting patients’ medical bills, then pivoted to auditing every claim for self-insured employers before the money moves
  • Serif Health: Shared investor: Rebel Fund. A company whose whole product is the cleanup of two federal disclosure rules
  • Fuse: Shared investor: Orange Collective. A two person, London based startup building AI tools to automate the front end of US medical billing: patient intake, insurance verification and claims

Sources

  1. Public recordEDGAR full text and company search, no registrant named TrueClaim TechnologiesSEC · Sep 24, 2026
  2. Public recordForm D, TRUECLAIM EXPLORATION INC., CIK 0001574553SEC · Apr 19, 2013
  3. Public recordForm D, NEW WAVE HOLDINGS CORP., CIK 0001574553SEC · Jan 18, 2022
  4. Public recordTPA Directory, TrueClaim Technologies Inc., status RegisteredNorth Carolina Dept of Insurance
  5. Public recordThird Party Administrator Listing, July 2025South Dakota Division of Insurance
  6. Public recordForm 5500 small plan exemption, 29 CFR 2520.104-20(b)Newfront · Nov 2, 2018
  7. IndependentA Czech-founded TrueClaim raises $2.1M in a pre-seed roundStartup Kitchen · May 1, 2024
  8. IndependentTrueClaim Raises $2.1M in Pre-Seed RoundThe SaaS News · May 2, 2024
  9. IndependentAmid rising costs, self-funded health plans are getting a makeoverHealthcare Brew · May 7, 2025
  10. AggregatorTrueClaim funding and headcount profilesTracxn and Crustdata · Sep 2026
  11. DiffersTrueClaim funding, reporting $4.1M across two roundsStartup Intros · Jul 13, 2026
  12. CompanyTrueClaim company page and YC launch postsY Combinator · Sep 2026
  13. CompanyTrueClaim home and About Us pagestrytrueclaim.com · Sep 2026
  14. PartnerRezilient Health and TrueClaim partnership announcementEIN Presswire · Jan 6, 2025

Compiled from SEC, state insurance department and US Department of Labor public records and published reports as of September 22, 2026. Form D notices report offerings under Regulation D; no Form D has been filed by TrueClaim Technologies, Inc., and offerings made under Section 4(a)(2) require none. Healthcare Venture Capital Fund holds no position in TrueClaim. This page is not an offer to sell or a recommendation to buy any security.