LifeRaft, a new insuretech company that makes simple, flexible and cost-effective supplemental health insurance products, came out of stealth mode today and launched its platform to offer people supplemental health options and solutions designed for real life. LifeRaft is building products that sit alongside a subscriber's traditional health plan to help policy holders see the doctors they need, access the most appropriate treatments and make medical care more affordable.

In addition to launching the LifeRaft platform, the company also announced that it has secured $3.5 million in seed funding. The round was co-led by Costanoa Ventures and XYZ Venture Capital. Funds will be used to further develop product offerings, expand reach and grow the LifeRaft team.

LifeRaft is a new insuretech company in supplementary health insurance with a mission to build reliable safety nets that work. Its products offer affordable monthly premium options and a direct cash benefit to the policy holder upon a covered event. The LifeRaft platform is fully digital from application to policy generation to claims for a seamless purchase, enrollment and administrative experience.