Truemed, a leading HSA/FSA marketplace for preventive health products, has raised $34 million in Series A funding, marking a major milestone in its mission to transform access to evidence-based lifestyle interventions in the U.S. healthcare system.
The funding round was led by Andreessen Horowitz, with participation from Bessemer Venture Partners, Long Journey Ventures, BoxGroup, and Trust Ventures.
Making Preventive Healthcare Accessible Through HSAs and FSAs
Founded to simplify how consumers use Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), Truemed enables eligible individuals to spend pre-tax dollars on clinically supported lifestyle and wellness products.
The company’s proprietary payments technology removes friction from the HSA/FSA process, allowing consumers to access preventive solutions that support long-term health rather than reactive treatment. Truemed currently partners with thousands of products and brands, including Peloton, Eight Sleep, Nike Strength, and 24 Hour Fitness.
A majority of Truemed users seek support for conditions such as:
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Early-stage heart disease
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Mental health challenges
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Chronic pain
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Metabolic health disorders
Strong Revenue Growth and Expansion Plans
Truemed has reported 3x year-over-year revenue growth for the past two consecutive years, underscoring increasing consumer demand for preventive healthcare solutions. The newly raised capital will be used to:
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Further develop Truemed’s HSA/FSA technology platform
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Expand its portfolio of evidence-based health products
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Increase consumer awareness around HSA/FSA eligibility for lifestyle interventions
Leadership Perspective on Preventive Healthcare
“HSAs and FSAs are one of the most effective tools available for addressing chronic illness and obesity, and should soon be as ubiquitous as a 401(k),” said Justin Mares, Founder and CEO of Truemed. “By combining the world’s top preventive products with seamless HSA/FSA technology, we’re moving healthcare beyond sick care toward everyday prevention.”
Julie Yoo, General Partner at Andreessen Horowitz, emphasized Truemed’s broader impact:
“Truemed is transforming how Americans engage with their health by turning financial tools like HSAs and FSAs into vehicles for everyday health improvement.”
Daisy Wolf, Partner at Andreessen Horowitz, added that Truemed’s model aligns incentives in a meaningful way, helping shift the healthcare system from reactive treatment to proactive wellness.
Industry Leader in HSA/FSA Compliance
Truemed is also recognized as a leader in HSA/FSA compliance, leveraging a clinician-led process to determine eligibility. The company facilitates Letters of Medical Necessity (LMNs) through healthcare professionals experienced in functional medicine, ensuring purchases meet regulatory requirements while remaining accessible to consumers.
The Future of Preventive Health Spending
With chronic disease and obesity continuing to strain healthcare systems, Truemed’s approach positions HSAs and FSAs as powerful tools for preventive care. The Series A funding signals strong investor confidence in a future where lifestyle interventions become a mainstream part of healthcare spending.
Ankitt Yadu is the Editor at Entrepreneur News Network and TVW News India, where he leads editorial strategy, brand storytelling, and startup ecosystem coverage. With a strong focus on innovation, business, and marketing insights, he curates impactful narratives that spotlight India’s evolving entrepreneurial landscape.