Health IT firm Maxwell Health aims to use a majority of its recently-closed $26.4 million in venture funding to increase its headcount from about 70 to 100 by early next year.
By 2016, the company, which is headquartered in both Boston and New York City, aims to have 200 employees, up from 14 in 2013.
Many of those new employees will be sales hires, said Maxwell Health spokeswoman Meg Murphy.
“We have so much demand right now, we need to continue to invest in our sales team so that we can fulfill that demand as quickly as possible,” she said in an email. “We’re primarily investing in people.”
The latest round of venture funding was raised by investors including Vaizra Investments and Tribeca Venture Partners, Catalyst Health Ventures and brings total funding to date to $34.4 million for the company.
The money will also be used to invest in product development.
“We have an aggressive product roadmap that were working on that includes not only improvements to the core platform, but integrations with other partners that participate on the platform,” Murphy said.
Maxwell Health offers a health-as-a-service operating system for employee benefits that incentivizes “a holistic view of health and provides a centralized place to access health and benefits services,” according to its website.
The company also recently announced a partnership with MetLife Insurance, according to TechCrunch.
Source: Boston Business Journal