Angle Health, a provider of AI-enabled employee health insurance and benefits administration platform for employers, raised $58 million in Series A funding.
Portage led the investment round with 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 existing investors Blumberg Capital, Correlation Ventures, TSVC, and Y Combinator.
Including the latest round, Angle Health has raised more than $62 million in funding to date. In July 2020, the Y Combinator-backed health insurance carrier closed $4 million in Seed fundraising led by Blumberg Capital with participation from Y Combinator, Correlation Ventures, TSVC, Liquid 2 Ventures, and angels.
Commenting on the funding news announcement, Ty Wang, CEO of Angle Health, said: “At Angle Health, we have an ambitious vision to unify the fragmented healthcare benefits system, which today severely limits access to, and availability of, modern healthcare services like telemedicine, digital behavioral health, and chronic disease management.”
“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,” added Ty Wang.
Digital health benefits
According to our funding database, digital health startups providing employee health benefits solutions have raised close to $5 billion in funding to date. More recently, HealthJoy, a provider of AI-enabled virtual healthcare benefits navigation platform for employers, raised $60 million in Series D funding led by Valspring Capital with participation from Endeavour Vision, CIBC Innovation Banking, US Venture Partners, GoHealth co-founders Brandon Cruz and Clint Jones, Health Velocity Capital, Nueterra Capital, and Epic. In another deal, Vitori Health, a provider of health benefits management platform, raised $30 million in equity funding from BV Investment Partners.