Health insurer Angle Health has announced it has raised $58 million in Series A funding.
Portage led the round, with SixThirty Ventures, Crew Capital, PruVen Capital, Mighty Capital, Aloft VC, Wing Venture Capital, Mindset Ventures, Wormhole Capital, and Waseem, founder of Pilot, an accounting services firm for tech startups. Daher joined us.
Existing investors Correlation Ventures, Blumberg Capital, Y Combinator and TSVC also supported the round.
Angle Health is a tailored health insurance and benefits provider for start-ups and technology companies, integrated with HR platforms for a fully digital enrollment and claims process.
The California-based company offers telemedicine, behavioral health and other digital health services to its members, including ordering and managing prescriptions and tracking spending via a mobile application.
The company launched in 2021 and was only available in Utah, but in November Announced expansion to Arizona, Ohio, Georgia, Indiana, South Carolina and Missouri.
The newly received funds will be used to continue expansion into new markets.
“At Angle Health, we have an ambitious vision to unify a fragmented healthcare benefit system that today provides access to modern healthcare services such as telemedicine, digital behavioral health and chronic disease management. and availability are severely limited,” said Ty Wang, CEO of Angle. He is in good health, the statement said.
“Just as navigation and ride-sharing tools have eliminated the need to read maps and road signs to traverse the physical world, Angle Health helps members navigate the complexities of the health system on their own. We’re empowering our members without having to gate them.Take care of us without breaking the bank.”
In 2020, Angle Health announced it had acquired $4 million in initial seed funding to complete mobile application launch and regulatory submissions.
The following year, Angle announced a partnership with an employee benefits company. Beam Dental provides dental benefits to Angle members, and Doctor on Demand by Included Health provides on-demand virtual emergency care and behavioral health services.
Another startup in the health benefits space is Pebble. Pebble offers select health insurance plans for small businesses and provides employees with third-party services that their employers may not cover.The company recently launched with a second seed funding round of $12 million, bringing the total raised to $17.3 million.
Other Companies Include Virtual First Health Insurance Providers Firefly Health and Chicago-based digital employee benefits platform HealthJoy.