Bright Health, a provider of exclusive Care Partner Health Plans for everyday individuals at competitive prices has raised $200M in Series C funding. Investors in the Series C round includes two new investors, Declaration Partners and Meritech Capital, as well as existing investors Bessemer Venture Partners, Cross Creek Advisors, Flare Capital, Greenspring Associates, Greycroft Partners, New Enterprise Associates (NEA), Redpoint Ventures, and Town Hall Ventures. The insurance tech startup plans to use the Series C funding to support Bright Health’s expansion in 2020 and beyond, as well as build on and reinforce the company’s leading, consumer-centric technology platform.
Bright Health’s Innovative Care Partner Health Plan Model
Founded in 2016, Bright Health currently offers a range of individual, family and Medicare Advantage plans in Alabama, Arizona, Colorado, New York City, Ohio and Tennessee via its website, call center, broker partners and through government websites as well as public health insurance exchanges.
Bright Health’s innovative Care Partner Health Plan Model works exclusively with one health system per market to offer superior, integrated care that removes the friction that has traditionally existed between payers and providers. This relationship allows for the coordination of services and administration to optimize consumer and patient experience.
“Bright Health has continued to execute at a fast pace towards our goal of disrupting the old health care model that places insurers at odds with providers,” said Bob Sheehy, Chief Executive Officer of Bright Health. “With our recently announced expansion, we will triple our geographic footprint in 2019. And Bright Health’s current high re-enrollment rate shows that consumers are ready for this improved healthcare experience – especially when it is priced competitively. We are honored to welcome these long-term investors to the Bright Health community as we look forward to what’s ahead for the company. We are just getting started.”
Since early its inception, Bright Health has raised more than $440 million in three rounds of equity financing.
