Angle Health, a Y Combinator-backed health insurance carrier, has raised $4m in seed funding to launch its tech-enabled health insurance plans for startups.
The round was led by Blumberg Capital with participation from Y Combinator, Correlation Ventures, TSVC, Liquid 2 Ventures and several smaller funds and angels.
Founded in 2019, Angle Health is launching comprehensive health insurance plans designed to help startups save on benefits costs by providing options that are easy to understand, affordable and deliver more relevant coverage to employees.
By combining research-backed digital and behavioural health programs with an integrated data infrastructure and machine-learning, Angle Health said it is able to provide a “first-class member experience”, reduce administrative overhead, and leverage data-driven insights to incentivise healthier lifestyles.
The funding will be used to complete Angle Health’s regulatory filing, launch its mobile application and integrate infrastructure to support greater accessibility to medical services, including primary and urgent care, mental health, chronic disease management and reproductive health.
David Blumberg, founder and managing partner at Blumberg Capital, said, “The growth potential for Angle Health is massive. Technological advances are making medical services ever more accessible through easy access digital offerings, telemedicine and virtual healthcare. Angle Health will deliver the flexible, mobile-first, health care benefits that startups seek at affordable prices.”
Tylon Wang, co-founder and CEO of Angle Health, added, “Today’s startups expect a modern health insurance experience with convenience, transparency, and greater access to mental health and wellness services. Our vision is to be the gold-standard health insurance carrier for medical service delivery, accessibility, member satisfaction and health outcomes.
“The funding allows Angle Health to launch our integrated platform to ultimately give users a seamless healthcare experience. This moves us one step closer to our mission: to eliminate preventable diseases by guaranteeing that quality healthcare is available and accessible to all that need it.”
Earlier this month, hi.health, an Austrian health insurance startup that acts as an intermediary between customers of private health insurance and their services, raised $1m.
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