PlanSource Announces $12 Million Investment to Leverage Its Technology Leadership Positions in Healthcare Technology, SaaS, and Employee Benefits Administration Services

ORLANDO, Fla., Feb. 1, 2012 /PRNewswire/ -- PlanSource Holdings, Inc., a cloud-based HR and healthcare SaaS technology company, has announced that it has received a $12 million investment led by Lemhi Ventures to leverage its technology leadership position and expand its growing business in healthcare technology, employee benefits administration, and HR technology services.

"We're pleased to be able to use this strategic investment from Lemhi Ventures to grow our relationships with both the national healthcare companies and the businesses they serve," said Dayne Williams, CEO of PlanSource. "This helps us expand on our momentum that we've built over the past year, but more importantly it validates our position as a technology leader and will help us improve the user experience and results at all levels – for healthcare companies, brokers, HR admin personnel, down to the overall employee experience at medium-sized and small companies throughout the U.S."

"We are very excited about PlanSource's unique opportunity to improve the user experience across the entire healthcare benefits distribution spectrum," said Randy Schmidt, Venture Partner at Lemhi Ventures. "By combining its best in class suite of benefits administration software with its emerging decision support tools, PlanSource will enable carriers or brokers to efficiently provide better data, allowing employers and individuals to make better informed decisions when buying benefits, whether through a traditional marketplace or a healthcare exchange."

About PlanSource
PlanSource is cloud-based Software as a Service (SaaS) provider that simplifies back office HR for employers with a comprehensive array of integrated services including payroll, benefits administration, decision support, and HRMS technology. PlanSource technology solutions are delivered through strategic carrier and broker partners who partner with PlanSource in order to increase their retention rates, revenue, and the overall value they bring to their customers. 

To learn more about PlanSource, visit www.plansource.com.

About Lemhi Ventures
Lemhi Ventures is a venture capital firm investing exclusively in the health care services industry. We believe that the marketization of health care is the key to controlling costs and improving quality. We actively seek entrepreneurs with business ideas that have the potential to disrupt and transform health care services, and help grow great companies through disciplined investment decisions and active involvement with our portfolio companies.  www.lemhiventures.com

SOURCE PlanSource