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Angle Well being, a digital insurance coverage startup, has raised $134 million in Collection B funding to scale its platform supporting small and mid-sized companies, the corporate introduced final week.
San Francisco-based Angle Well being is a digital healthcare advantages supplier for employers. Its AI-powered app presents care navigation providers by its care crew. Its customizable well being plans embrace telemedicine, behavioral well being and different digital well being options. The corporate also can assist with fee processing, billing and invoicing, and serves greater than 3,000 employers throughout 44 states.
Its Collection B spherical was led by Portage and included participation from Blumberg Capital, Mighty Capital, PruVen Capital, SixThirty Ventures, TSVC, Wing VC and Y Combinator. The spherical included a mixture of debt and fairness. In whole, Angle Well being has raised about $200 million.
“Angle Well being is what occurs while you carry a few of the brightest minds in AI and machine studying into an trade that constantly lags in technological innovation,” stated Ricky Lai, normal associate at Portage, in an announcement. “The Angle crew is taking a novel method to one of many greatest challenges going through employers right now: how you can present staff with high quality healthcare entry whereas conserving prices in examine. They’re utilizing human-centered AI to rebuild the operational and monetary infrastructure behind healthcare advantages.”
With the funding, Angle Well being goals to broaden entry to its platform for extra small to mid-sized employers, in response to Ty Wang, co-founder and CEO of the corporate.
“We’re additionally persevering with to construct out our platform throughout monetary and healthcare providers, particularly making important investments in growing and launching further providers on the care supply aspect that allow members to entry larger high quality, cheaper therapy choices,” Wang stated in an e mail.
Angle Well being’s funding comes as employers are going through skyrocketing healthcare prices. Companies are projecting the biggest enhance in 15 years in 2026, in response to Mercer.
Greater than that, employers are sometimes coping with “archaic infrastructure and handbook processes” on the subject of medical health insurance, Wang stated. This significantly hurts smaller employers as they typically lack the assets to handle well being advantages successfully.
“Angle Well being is tackling this market head-on with an AI-powered platform that transforms how organizations entry, customise, and management healthcare prices,” he famous. “It allows employers to fulfill their staff’ healthcare wants whereas stabilizing prices long-term — a prime precedence as employer healthcare bills are anticipated to see the most important enhance in 15 years.”
Angle Well being’s opponents embrace conventional insurance coverage corporations like Blue Cross Blue Defend, UnitedHealthcare, Cigna and Aetna. Although what makes Angle distinctive is its means to allow full customization of well being plans for companies as small as two staff, in response to Wang.
Picture: Topp_Yimgrimm, Getty Pictures
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