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Castlight Health

Thursday, 16 May 2013 | 4:20 PM ET
Health Care Industry Game Changers
CNBC's Julia Boorstin reports on companies that are looking to increase efficiency and implement simplicity in medical care. These five are the five companies that made the CNBC Disruptor 50 list for healthcare: 23andMe, Audax Health, Castlight Health, Ginger.io, and ZocDoc.

What
Provider of health care transparency technology to employers, lowering the cost of health care and providing individuals with unbiased pricing and quality information for health care purchases.

Disrupting
Health care industry pricing model, driving cost down and care quality up through increased transparency.

Source: Castlight

Headquarters: San Francisco
CEO: Giovanni Colella
Year Founded: 2008
Number of Employees: 200
Funding: $181 million
Key Investors: Maverick Capital, Oak Investment Partners, Redmile Group, U.S. Venture Partners, Venrock, Morgan Stanley, Wellcome Trust and T. Rowe Price

Vital Stats

  • Castlight is on track to become one of the fastest-growing SaaS (software as a service) companies in history
  • On target for goal of 10 times growth in total bookings from 2011 to 2013
  • Four times year-on-year growth in net new bookings in first quarter of 2013
  • Fourteen of the company's 50 customers are in the Fortune 500
  • Percentage of personal bankruptcies with medical cause: 62 percent
  • The same exact procedure can cost seven times as much in one U.S. location as in another
  • Health care costs rising 8 percent a year for companies, 10 percent a year for individuals
  • $750 billion a year wasted by companies on health care
  • America spends $8,233 per capita on health care, the most of any industrialized nation

On Disruption

"Disruption is a marathon that takes passion, bravery and stamina to solve old problems in new ways." -Giovanni Colella, CEO

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Contact CNBC Disruptors

  • Email: cnbcdisruptor@nbcuni.com

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