Corridor, an AI-powered benefits brokerage focused on small businesses, has launched with $25 million in funding.
The funding round was led by Bain Capital Ventures, with participation from BoxGroup, Definition Capital and angel investors from companies including OpenAI, Modal, Ramp, Scale AI, Oscar, Rogo, Decagon, Medallion, Reducto and Tennr.
Corridor aims to make health benefits easier and more affordable for small businesses with between 1 and 500 employees.
The company combines licensed benefits advisors with AI agents that handle tasks such as collecting company and plan information, comparing insurance options, preparing proposals, supporting enrollment and working with insurance carriers.
“For decades, small businesses have been sold the leftovers of the health insurance market,” said Nikhil Aggarwal, CEO and co-founder of Corridor. “But health insurance is just as complex and consequential, whether a company has 60 employees or 6,000. We built Corridor to give small businesses access to the same caliber of service as the largest companies in America. If we do our job right, small business owners and their employees should never have to think about health insurance again.”
Corridor said its customers are currently saving an average of 20% on health benefits while maintaining the quality of their coverage.
The company was founded by Aggarwal, Jason Dong, Jackson Wagner and Eric Qian, who bring experience across healthcare, AI and data infrastructure.
According to Corridor, small businesses have traditionally received less support from benefits brokers because smaller accounts can require significant work while generating less revenue than large enterprise customers.
Corridor uses AI to handle much of the administrative work, allowing its licensed advisors to focus more on helping businesses understand their options and choose suitable plans.
“Founders usually tell us how large a market can become. Nikhil made it clear he wanted healthcare to be a smaller one,” said Ryan Kim, Partner at Bain Capital Ventures. “Administrative cost is the part of a premium that buys no care, and insurance distribution is where much of it accumulates because the work is still manual. Corridor’s agents do that work, so every employer gets quoted against the full market and carriers have to compete on price. It’s precisely the kind of company we raised our newest fund to back, and it’s why we led Corridor’s round.”
The company plans to use its new funding to continue building its AI-powered brokerage platform and expand its services for small businesses across the U.S.
