Angle Health, a health insurance startup, has announced it has secured $58 million in funding. The funding round was led by a16z, with participation from Sequoia, Oak HC/FT, and Human Ventures, among others.
The company plans to use the new capital to expand its operations, including its Medicare Advantage platform, which provides comprehensive health insurance coverage to seniors and people with disabilities. Angle Health also plans to use the new funds to accelerate its development of health insurance products tailored to the needs of the “gig economy,” such as freelancers and independent contractors.
The company was founded in 2018 by CEO Neeraj Gupta, a former engineer at Google, and CFO Chris Lee, a former venture capitalist. The startup’s goal is to provide health insurance plans that are tailored to the needs of the modern workforce, while also providing better customer service and a better overall experience.
In addition to its Medicare Advantage platform, Angle Health also offers a range of health insurance plans for employers, including self-insured plans and coverage for small businesses. It also offers plans for individuals and families, as well as a range of supplemental health insurance products.
The company has seen significant growth in the past year with enrollment in its Medicare Advantage plans increasing by 167% and its employer plans by 108%. Its customer base has grown to include more than 15,000 seniors and people with disabilities, as well as more than 5,000 small businesses and individuals.
Angle Health’s success has been driven by its focus on providing a better customer experience, as well as its innovative health insurance products. Its Medicare Advantage plans are designed to be more flexible and customizable than traditional Medicare plans, allowing customers to select the coverage that best meets their needs. The company also provides a range of supplemental insurance products, including dental and vision coverage, as well as long-term care and disability coverage.
The funding round is a major milestone for Angle Health, and the company is well-positioned to continue its growth and expansion. With its focus on providing better health insurance products and customer service, Angle Health is well-positioned to become a major player in the health insurance industry.