VBA Secures $156M in Growth Funding

VBA, a Milwaukee, WI-based provider of cloud-based benefits software for healthcare payers, raised $156M in Growth funding. The round was led by Spectrum Equity with participation from Arthur Ventures. With the investment, Jeff Haywood and Michael Radonich from Spectrum joined VBA’s board of directors. The company intends to use the funds to expand operations and its business reach. These include CAPS (VBASoftware), user engagement platforms (VBAGateway), customer support tools (VBAVoice), population health reporting solutions (VBAnalytics) and robust data connections (VBAPI).