Burst
Burst is a post-purchase FSA/HSA reimbursement platform that enables health and wellness merchants, telehealth providers, and retailers to capture pre-tax health spending without checkout changes, serving consumers through automated eligibility, LMN issuance, and claims filing.
- Company typePrivate
- Founded2024
- HeadquartersSan Francisco, United States
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Burst does
Burst is a healthcare payments platform that enables post-purchase FSA/HSA reimbursement for health and wellness merchants and their consumers. The company was co-founded in 2024 by Anthony Rangel (CEO) and Shubhi Jain (CPO), operating as float app, Inc. (d/b/a Burst), a Delaware C-corp headquartered at 150 Court Street, Brooklyn. The platform's core technical components are an IRS 213(d)-aligned SKU-level eligibility engine, automated Letter of Medical Necessity (LMN) issuance through a network of independent licensed clinicians (with same-day, within-24-hour turnaround), and automated post-purchase claims filing to major third-party administrators including HealthEquity, Optum, Fidelity, and HSA Bank. Integration is delivered through a Shopify app, an API for enterprise customers, in-store POS, and telehealth platform connectors, and uniquely operates without requiring checkout modifications, preserving express checkout options like Shop Pay, Apple Pay, and Google Pay.
Burst monetizes through two streams: consumer-facing LMN facilitation fees of $25 per letter (waived for purchases from Burst Choice partner brands) and merchant platform fees described as recurring/quote-based and not publicly disclosed. Distribution is product-led for SMB merchants via the Shopify App Store and enterprise field sales for larger health/wellness brands, telehealth companies, and omnichannel retailers, supplemented by a consumer-facing Chrome extension and Burst Shop marketplace. The company is SOC 2 compliant and serves primary customer segments including DTC health and wellness brands (Pacagen, Dryft Sleep, Pendulum, Eli Health, Plunge, Prolon, Daily Harvest, Eight Sleep, and others), telehealth and subscription care providers, omnichannel retailers, and HSA/FSA account holders. As of February 2026, Burst had raised $3 million in total funding including a $2.1 million seed round led by Pear VC with participation from Rock Health Capital and Alumni Ventures, and operated with 1-10 employees.
The product is positioned against the approximately $4.5 billion in FSA funds forfeited annually by account holders, with merchant-reported outcomes including up to 30% higher average order value, up to 42% longer subscription retention, and 35% higher checkout conversion among brands using the platform. Strategic emphasis is on remaining entirely post-purchase to avoid the checkout-friction trade-offs that have limited prior HSA/FSA solutions.
Burst firmographics
Firmographics- Name
- Burst
- Legal name
- float app, Inc.
- Website
- https://getburst.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Burst is a post-purchase FSA/HSA reimbursement platform that enables health and wellness merchants, telehealth providers, and retailers to capture pre-tax health spending without checkout changes, serving consumers through automated eligibility, LMN issuance, and claims filing.
- Ownership category
- akta.pro rank
Burst industry classification
Industry- Product category
- Healthcare Payments Platform
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)
- akta.pro secondary industry
- Eligibility, Enrollment & Benefits Administration (HLAEALAH)
Keywords
Where Burst is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Burst business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations
Revenue model
- LMN Facilitation Fees: Consumers pay $25 for Letter of Medical Necessity facilitation, or receive LMNs for free when purchasing from Burst Choice partner brands.
- Merchant Platform Fees: Merchants pay for access to the Burst platform to enable FSA/HSA reimbursement capabilities for their customers. Installation is free for Shopify apps with potential premium features.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard LMN - $25 per Letter of Medical Necessity |
| Freemium | Pay-as-you-go | Burst Choice Partner - Free LMN |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels4 records
Burst product offering
Product offeringCore offering
Burst operates a post-purchase FSA/HSA reimbursement platform that enables retailers, e-commerce brands, telehealth companies, and wellness merchants to capture pre-tax health spending without requiring checkout changes. The platform uses an IRS 213(d)-aligned SKU-level eligibility engine, facilitates same-day Letter of Medical Necessity issuance through licensed healthcare providers, and automatically files reimbursement claims with major third-party administrators including HealthEquity, Optum, Fidelity, and HSA Bank.
Product overview
Burst is a healthcare payments platform (formerly Float) offering a unified suite of products for FSA/HSA reimbursement. The core offering consists of the Consumer Platform (getburst.com) for shoppers to connect their FSA/HSA accounts and get reimbursed automatically, and the Merchant Platform for retailers and wellness brands to capture FSA/HSA spending without checkout changes. Supporting products include the Burst App for Letter of Medical Necessity (LMN) requests ($25 per LMN, free for Burst Choice partners), the Burst Shopping Assistant Chrome Extension for real-time eligibility display, and the Burst Shop marketplace featuring partner brands. The platform works entirely post-purchase, determining eligibility at the SKU level per IRS 213(d) and filing claims automatically with TPAs including HealthEquity, Optum, Fidelity, and HSA Bank.
Differentiator
Problem solved
Functional benefit
Products and services
- Burst Merchant Platform Post-purchase integration platform for retailers, e-commerce brands, telehealth companies, and wellness merchants to capture FSA/HSA spending. Installs via Shopify app or API with no checkout changes, handles eligibility determination at the SKU level per IRS 213(d), facilitates LMN issuance, and automatically files reimbursement claims with major third-party administrators.
- Burst Consumer Platform Consumer-facing web platform that helps shoppers use pre-tax HSA/FSA dollars for health and wellness purchases across online and in-store channels. Connects users' FSA/HSA accounts and automates reimbursement claims after purchase, enabling savings of up to 40%.
- Burst App (Request LMN) Consumer-facing web/mobile application for requesting Letters of Medical Necessity (LMNs) for FSA/HSA eligible purchases. Users submit health information for review by independent licensed healthcare providers who may issue an LMN in their clinical judgment. LMNs are processed same-day (within 24 hours) for $25 per request or free for Burst Choice partners.
- Burst Shopping Assistant (Chrome Extension) Browser extension available on the Chrome Web Store that displays FSA/HSA eligibility information while shopping, instantly notifying users which products are eligible for reimbursement and how much they can get back. Enables instant LMN requests from the browser.
- Burst Shop Marketplace Product marketplace and directory listing FSA/HSA eligible products from partnered brands including Pacagen, Dryft Sleep, Pendulum, Eli Health, Plunge, Prolon, Salus Saunas, Daily Harvest, Eight Sleep, Blueair, Puroair, Coway, and others. Includes condition-based browsing and same-day LMN approval functionality for Burst Choice partners.
Quantifiable outcome
- Up to 30% higher customer basket size for retail partners
- +6 more outcomes
Companies that use Burst
Customer profileNamed customers13 records
Segments5 records
Ideal customer profiles4 records
Burst technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability1 record
Feature4 records
Burst partnerships and signals
Strategic signalPartnerships
18 partnerships are on record, tiered core and flagship.
- HealthEquitycoreMajor third-party administrator to whom Burst submits reimbursement claims. Works with Burst to process FSA/HSA reimbursements for consumers.
- OptumcoreMajor third-party administrator to whom Burst submits reimbursement claims for HSA/FSA reimbursement processing.
- FidelitycoreMajor third-party administrator partner for FSA/HSA claims submission and reimbursement processing.
- HSA BankcoreMajor HSA administrator partner for processing health savings account reimbursements through Burst's platform.
- PacagenflagshipBurst Choice partner offering free same-day LMN approval for allergen reduction products including sprays, supplements, and neutralizing powders. Featured prominently on Burst's shop marketplace.
- Dryft SleepflagshipBurst Choice partner for sleep products including Sensate 2 vagus nerve calming device, eligible for free same-day LMN through Burst.
- PendulumflagshipBurst Choice partner for gut health products eligible for FSA/HSA reimbursement with free same-day LMN approval.
- Eli HealthflagshipBurst Choice partner for hormone health monitoring products eligible for FSA/HSA reimbursement with free same-day LMN.
- PlungeflagshipBurst Choice partner for cold plunge products eligible for FSA/HSA reimbursement with free same-day LMN approval.
- ProlonflagshipBurst Choice partner for ProLon fasting and longevity products eligible for FSA/HSA reimbursement with free same-day LMN.
- Daily HarvestflagshipBurst Choice partner for Daily Harvest health food products eligible for FSA/HSA reimbursement with free same-day LMN.
- Eight SleepflagshipFeatured partner for smart mattress products (mattress, smart sleep products) eligible for FSA/HSA reimbursement with LMN through Burst.
- Ozlo SleepflagshipBurst Choice partner for sleep-related products eligible for FSA/HSA reimbursement with free same-day LMN.
- WTHNflagshipBurst Choice partner for wellness acupuncture and health products eligible for FSA/HSA reimbursement with free same-day LMN.
- Kickit Recovery WearflagshipBurst Choice partner for recovery wear products eligible for FSA/HSA reimbursement with free same-day LMN approval.
- Salus SaunasflagshipBurst Choice partner for sauna products eligible for FSA/HSA reimbursement with free same-day LMN.
- SansflagshipFeatured partner for Sans air and water products eligible for FSA/HSA reimbursement with LMN through Burst.
- ShopifycorePlatform partnership for Shopify app distribution and integration. Burst's Shopify app allows merchants to install the platform in minutes without checkout changes.
Scale indicators7 records
Recent moves5 records
Expansion highlights5 records
Burst competitors and assessment
Company assessmentDirect peers
- TrueMed: TrueMed is the most direct competitor to Burst, offering post-purchase HSA/FSA reimbursement for health and wellness DTC brands with Letter of Medical Necessity issuance. Targets the same merchant and consumer segments with a similar LMN-based workflow.
Broad incumbents
- The FSA Store: Operated by major benefits administrators, The FSA Store is a large FSA-eligible marketplace where consumers can spend pre-tax dollars directly. Overlaps with Burst's consumer marketplace and Burst Shop functionality.
- HSA Store: An HSA-eligible marketplace operated by HSA Bank. Functions as both a competitor to Burst Shop and as a TPA integration partner, illustrating the dual incumbent threat across both the consumer marketplace and merchant infrastructure layers.
- HealthEquity: Largest US HSA custodian and a Burst TPA partner. Already operates consumer marketplaces (The FSA Store, HSA Store) and has the scale to launch competing post-purchase merchant experiences that would directly threaten Burst's wedge.
- Amazon Health Services (HSA/FSA Store): Amazon's HSA/FSA-eligible storefront captures a large share of HSA/FSA-eligible e-commerce spend and could plausibly extend into automated post-purchase claims, representing a long-tail disintermediation risk for Burst.
- Optum Store: Optum's HSA/FSA marketplace connects UnitedHealth's member base with eligible products. As one of Burst's TPA partners, it represents both an integration dependency and a potential incumbent competitor in merchant enablement.
Emerging players
- Wize: Wize offers HSA/FSA optimization tools and an LMN-driven eligibility product for wellness purchases. Comparable to Burst's consumer-facing LMN flow with overlap on merchant eligibility determination.
- Paytient: Paytient provides employer-sponsored health payment accounts that let employees pay out-of-pocket medical expenses and repay over time. Adjacent to Burst's HSA/FSA payments flow and increasingly competing for the same employer-sponsored benefits wallet.
- Lively: Lively is a modern HSA custodian with consumer-facing tools for managing eligible expenses. Competes with Burst at the consumer layer by owning the HSA account relationship directly.
- Forma: Forma provides employer-sponsored lifestyle spending accounts (LSAs) and benefit wallets that intersect with HSA/FSA use cases. Comparable as an emerging benefits-payment platform targeting employer plan administrators, an adjacent customer segment for Burst.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Burst social profiles
Digital presenceBurst compliance and trust
Trust signalCompliance1 record
Burst financial estimates
Financial estimateRevenue estimate
Valuation estimate
Burst leadership team
Management profileNumber of profiles
Profiles2 records
Burst funding detail
Funding detailFunding overview
Funding rounds1 record
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Burst M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Burst
What does Burst do?
Burst operates a post-purchase FSA/HSA reimbursement platform that enables retailers, e-commerce brands, telehealth companies, and wellness merchants to capture pre-tax health spending without requiring checkout changes. The platform uses an IRS 213(d)-aligned SKU-level eligibility engine, facilitates same-day Letter of Medical Necessity issuance through licensed healthcare providers, and automatically files reimbursement claims with major third-party administrators including HealthEquity, Optum, Fidelity, and HSA Bank.
Is Burst a public or private company?
Burst is a private company. It is classified as venture growth investor backed and is currently operating.
When was Burst founded?
Burst was founded in 2024. It employs 1 to 10 people.
Where is Burst based?
Burst is headquartered in San Francisco, United States, in the North America region.
How does Burst make money?
Two revenue lines are on record. LMN Facilitation Fees are the primary driver. The others are merchant Platform Fees.
Who are Burst's main competitors?
TrueMed is listed as a direct peer. Broad incumbents are The FSA Store, HSA Store, HealthEquity, Amazon Health Services (HSA/FSA Store) and Optum Store. Emerging players are Wize, Paytient, Lively and Forma.
Does Burst have an API?
No public API is recorded for Burst.
What industry is Burst in?
Burst's product category is Healthcare Payments Platform. Its primary akta.pro industry code is HLAEALAK, Flexible Benefits Administration (FSA/HSA/HRA), with a secondary code of HLAEALAH, Eligibility, Enrollment & Benefits Administration. Its NAICS code is 524292 and its SIC code is 6411.