Horizon Blue Cross Blue Shield of New Jersey Partners with Zipari to Further Improve Members’ Digital Access to Healthcare
VVP portfolio company Zipari announced they have closed a 5 year, 8 figure, TCV contract with Horizon BCBS (Blue Cross/Blue Shield). Horizon is the BCBS provider in the state of New Jersey. They are the 7th largest BCBS provider out of 38 total BCBS companies.
This is a major win for Zipari and demonstrates the success of VVP’s vertical investment thesis; the final discussions for this contract involved major C-suite executives at Horizon, and the 5 year commitment at this level of TCV indicates the strategic value of this initiative.
Our journey started with a $650K Seed Stage investment from VVP; we are forecasting Zipari to book over $28M of TCV in FY 2017.
One of the direct comps for Zipari is a public company called Veeva. Veeva is focused on CRM in the Life Sciences vertical where Zipari is focused on CRM in the Health Insurance vertical. Today Veeva is a $9.2B market cap public company. So far Zipari seems to be following in their footsteps; still much work to do but off to a great start!