Castlight Health Snags $60M

San Francisco-based Castlight Health, which delivers a web-based service to provide employees with information about health care benefits and costs, has raised $60M in a Series C funding. The firm said the round came from Morgan Stanley Investment Management, The Wellcome Trust, U.S. Venture Partners, and Cleveland Clinic, along with Maverick Capital, Oak Investment Partners and Venrock. The funding will go towards hiring and product development. Caslight provides granular information about employee health care benefits and costs, to help companies save money on their health care plans. The firm was co-founded and is headed by Giovanni Colella. More information »