Venture Capital: Digital Health Insurer Angle Nabs $58M Series A
Angle Health recently expanded into Arizona, Georgia, Indiana, Ohio, Missouri, and South Carolina.
Angle Health, a digital-first health insurance provider, announced $58 million in Series A funding led by Portage.
The funding round also included participation from PruVen Capital, Wing Venture Capital, SixThirty Ventures, Mighty Capital, Wormhole Capital, Mindset Ventures, Crew Capital, Aloft VC, and Pilot founder Waseem Daher, and support from existing investors Blumberg Capital, Correlation Ventures, TSVC, and Y Combinator. (CISION PR NEWSWIRE)
The company’s goal is to unify the fragmented healthcare benefits system and provide access to modern healthcare services like telemedicine and digital behavioral health. The company’s plans include integrated digital health solutions and are reinsured by an insurer with a strong financial rating.
It is focusing on the employer-sponsored health plan segment—a $1.2+ trillion market covering over 155 million Americans. It offers a fully digital solution to the traditional health insurance industry, providing transparency, simplicity, and ease of use to members, employers, and brokers.
Ty Wang, CEO, said: “Just as tools for navigation and ride-sharing have eliminated the need to read maps and street signs to traverse the physical world, Angle Health is eliminating the need for members to navigate the complexities of the healthcare system on their own, and empowering members to get care without breaking the bank.”
The company focuses on employer-sponsored health plans.
“Angle Health brings a customizable, fully digital solution to an industry dominated by rigid benefit plans, opaque underwriting, difficult switching costs, and siloed point solutions,” said Ricky Lai, Partner at Portage.
Related Story: Monogram Health Lands $375M Funding Round For Specialized At-Home Renal Care
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