New capital, led by Portage, follows the corporate’s latest growth into Arizona, Georgia, Indiana, Ohio, Missouri, and South Carolina
SAN FRANCISCO, Jan. 25, 2023 /PRNewswire/ — Angle Health, the digital-first, fully-licensed medical insurance supplier bringing transparency, simplicity, and ease of use to members, employers, and brokers in a frictionless expertise, right this moment introduced $58 million Collection A funding led by Portage. Its newest spherical additionally included participation from PruVen Capital, Wing Enterprise Capital, SixThirty Ventures, Mighty Capital, Wormhole Capital, Mindset Ventures, Crew Capital, Aloft VC, and Pilot founder Waseem Daher; and help from current buyers Blumberg Capital, Correlation Ventures, TSVC, and Y Combinator. Following its latest expansion into Arizona, Georgia, Indiana, Ohio, Missouri, and South Carolina, with preliminary give attention to the employer-sponsored well being plan section—a $1.2+ trillion market protecting over 155 million People, Angle Well being is already protecting tens of 1000’s of members on its fully-insured and self-funded merchandise since launching in 2021.
“Angle Well being brings a customizable, totally digital resolution to an trade dominated by inflexible profit plans, opaque underwriting, tough switching prices, and siloed level options,” mentioned Ricky Lai, Companion at Portage. “Simply as innovators like Kin and Lemonade have accomplished for private traces of insurance coverage—Angle has made medical insurance extra handy, approachable, and reasonably priced for employers and members. ”
Launched in 2021, Angle Well being is bridging the divide between medical insurance, conventional healthcare suppliers, digital well being, and wellness by bringing these disparate level options right into a cohesive ecosystem.
“At Angle Well being, now we have an bold imaginative and prescient to unify the fragmented healthcare advantages system, which right this moment severely limits entry to, and availability of, fashionable healthcare companies like telemedicine, digital behavioral well being, and power illness administration,” shares Ty Wang, CEO of Angle Well being. “Simply as instruments for navigation and ride-sharing have eradicated the necessity to learn maps and avenue indicators to traverse the bodily world, Angle Well being is eliminating the necessity for members to navigate the complexities of the healthcare system on their very own, and empowering members to get care with out breaking the financial institution.”
Powered by its built-in, AI-enabled expertise platform, Angle Well being supplies a digital-first care navigation expertise with its totally tailor-made complete healthcare profit plans for employers. Telemedicine, behavioral well being, and different digital well being options – usually sitting outdoors of the standard medical insurance setting – are core choices built-in into all Angle Well being plans at minimal to no price for members. Angle Well being’s insurance coverage insurance policies are reinsured by an insurer with a monetary power score of A+ from each A.M. Greatest and Customary & Poor’s. With tens of 1000’s of members throughout states, and entry to a nationwide community of healthcare suppliers and amenities, high employers, and a rising roster of brokers and companies, together with NFP, Gallagher, GBS/Leavitt, Aon, and Hub, are selecting Angle Well being as their healthcare insurance coverage and advantages supplier.
“Angle Well being is a whole paradigm shift from conventional medical insurance. They convey a complicated and customizable well being plan strategy to SMBs and mid-market employers in a method that has by no means been accomplished earlier than,” mentioned Victoria Cheng, Companion at PruVen Capital. “Their ground-up knowledge infrastructure permits superior digital buyer experiences with larger transparency and affected person care that includes best-in-class, third-party digital well being suppliers.”
Co-founded by former Palantir engineers, CEO Ty Wang and CTO Anirban Gangopadhyay, Angle Well being was born out of the duo’s frustration with their private medical insurance experiences. The corporate has been constructing its AI-powered expertise platform and regulatory infrastructure since collaborating in Y Combinator’s Winter 2020 cohort and its $4M seed funding spherical in the summertime of 2020.
“As a high-growth startup, we need to preserve our workers wholesome and supply them with the best-in-class healthcare advantages. Till Angle Well being, we thought we needed to accept the inflexible establishment with legacy medical insurance suppliers,” mentioned Bailee Jones, Particular Advisor at payroll API innovator Atomic Fi. “Angle Well being is extra than simply an insurance coverage firm – they’ve put our workers on the middle, consistently going out of their method to supply care and help. They usually make every thing straightforward and fast – from getting a quote, and open enrollment, to partaking with the Angle Care Group.”
Further Assets
- Employers – To enroll with Angle Well being, go to here.
- Brokers and Brokers – To work with Angle Well being, go to here.
- Suppliers – To be taught extra about Angle Well being, go to here.
About Angle Well being
Angle Well being democratizes entry to fashionable healthcare by unifying right this moment’s fragmented healthcare advantages system into one core protection and supply platform. As a full-stack healthcare advantages supplier, Angle Well being drives efficiencies throughout the worth chain by its digital-first platform— from instantaneous underwriting for brokers and streamlined administration for employers to personalised care navigation for members. With entry to a nationwide community of healthcare suppliers and amenities, Angle Well being is the well being advantages supplier for contemporary employers, now servicing tens of 1000’s of workers and members throughout the nation.
Go to anglehealth.com to be taught extra.
About Portage
Portage is a world funding platform centered on fintech and monetary companies with US$2B+ below administration, 65+ portfolio corporations in 13 nations, and 55 professionals throughout the US, Canada and Europe. Our workforce companions with bold corporations throughout all phases, by Portage Ventures and Portage Capital Options. We offer versatile capital and ship a world community of buyers, business companions, advisors, and worth creation consultants. With deep trade information and entrepreneurial expertise, Portage is dedicated to supporting the leaders who’re reshaping monetary companies. Portage is a platform inside Sagard, a multi-strategy different asset administration agency with $13B+ below administration. Be taught extra at www.portageinvest.com.
About PruVen Capital
PruVen Capital is a world, multistage enterprise capital agency backing founders constructing enduring corporations within the largest verticals of the worldwide financial system. We put money into transformational startups in FinTech, InsurTech, HealthTech, Actual Property, and Enterprise IT. Our multi-stage strategy and deep community in these complicated industries permits us to help main entrepreneurs from first test to IPO. To be taught extra, go to pruvencap.com.
SOURCE Angle Well being
