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NEW YORK, NY, June 04, 2021 /24-7PressRelease/ -- SilverBills, the concierge bill management service, has announced the closing of its seed round of funding through investments led by HearstLab and Seae Ventures. The Gaingels and Eucalyptus Growth Partners also participated in the round. The funding will allow SilverBills to increase its technological capabilities and make critical hires.
Founded by Marci Lobel-Esrig, CEO and General Counsel, SilverBills has developed a proprietary bill management software solution. Combining the technology solution with highly trained personal account managers, SilverBills manages finances and household bills for adults who are not internet-fluent or who want to outsource this chore to professionals. Clients are not required to use a computer or have a digital presence to utilize the SilverBills service. Operating throughout the United States, SilverBills is working with older adults and their families to facilitate aging in place securely.
"SilverBills' unique tech-enabled solution, coupled with personalized account management service, is positioned well to serve older adults while providing peace of mind," said HearstLab Chairwoman Eve Burton. "We are excited to support Marci and her team with our expertise in customer experience management solutions, healthcare, and marketing as they make a true contribution to elder care in the US."
"Financial platforms that supplement personal service delivery with tech-enabled functionality ensure greater transparency and assurance. Many adult caregivers provide a wide range of complex tasks to improve health outcomes for their loved ones. The one commonality across all older adults and caregivers is the requirement to monitor and pay expenses. The SilverBills platform empowers individuals and caregivers to spend their time on activities that enrich overall quality of life without worrying about managing bill payment," said Pete Sally, Co-Founder of Seae Ventures. "SilverBills supports a highly personal, reliable and high touch experience for individuals and caregivers."
Lobel-Esrig is a former Associate General Counsel at Sterling Equities, the New York Mets parent company. While at Sterling, she worked on remedying the huge financial loss suffered by her company, as a result of Bernie Madoff's crimes. At the same time, her elderly aunt was struggling with managing her household bills. Marci was inspired to start SilverBills after learning about the $1B elder financial exploitation crisis in the U.S. "SilverBills is a high tech solution to household bill management, empowered by professional account managers whose activities are monitored using robust A.I. fraud detection, and audited by licensed CPAs. We help individuals outsource the job of managing household bills to trusted, vetted professionals with whom they can form personal relationships." SilverBills also works with health care providers to facilitate financial well-being, which is a social determinant of health. Lobel-Esrig adds, "Through our monthly budgeting and guarantee of on-time payment of all bills, we increase financial well-being, leading to better health outcomes among our clients."
Hearst is a leading global, diversified media, information and services company with more than 360 businesses. Its major interests include ownership in cable television networks such as A&E, HISTORY, Lifetime and ESPN; global financial services leader Fitch Group; Hearst Health, a group of medical information and services businesses; transportation assets including CAMP Systems International, a major provider of software-as-a-service solutions for managing maintenance of jets and helicopters; 33 television stations such as WCVB-TV in Boston and KCRA-TV in Sacramento, California, which reach a combined 19% of U.S. viewers; newspapers such as the Houston Chronicle, San Francisco Chronicle and Times Union (Albany, New York); more than 300 magazines around the world, including Cosmopolitan, ELLE, Men's Health and Car and Driver, and KUBRA, a digital payment and services business; and investments in emerging digital entertainment companies such as Complex Networks, Buzzfeed and others. Follow us on Twitter @Hearst. To learn more about Hearst, visit hearst.com.
HearstLab provides cash investment and services to early-stage, women-led startups innovating across enterprise technology, data analytics, health, fintech, transportation and media. Its mission is to close the gap in VC funding for women by helping female founders build sustainable and highly scalable businesses. With access to Hearst resources across 360+ businesses, HearstLab's breadth of services includes providing assistance with commercial deals, privacy and security, legal services, marketing support and raising capital to become the next generation of America's largest companies that make superior products and solve the country's greatest problems through their products and services. Portfolio companies also benefit from the strategic guidance and resource support of HearstLab Scouts, women leaders across Hearst who share their networks and expertise. HearstLab has a full-time dedicated team assisting with UI/UX, DevOps engineering, data security, data science, brand storytelling and business development. HearstLab is 100% owned by Hearst Corporation. Connect with us on LinkedIn and learn more about HearstLab at HearstLab.com.
About Seae Ventures
Seae Ventures is dedicated to building and investing in early-stage healthcare technology and services companies primarily founded by women and people who identify as Black, Indigenous and People of Color and focuses on a spectrum of investment themes across the healthcare ecosystem. Learn more about Seae Ventures at www.seaeventures.com.
SilverBills has developed a proprietary bill management software solution that helps clients manage their bills. SilverBills receives, scrutinizes, stores and ensures payment of household bills. Keeping current with bills can be challenging and mistakes can lead to dire consequences such as termination of benefits, like insurance, and financial exploitation. Every client is paired with a dedicated Account Manager, and no computer use is necessary to benefit from our services. SilverBills' partners include the New York City Department for the Aging and Care.com.
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