Angle Health raises $58 million
Health insurance provider Angle Health has raised $58 million in Series A funding led by Portage, with participation from PruVen Capital, Wing Venture Capital, SixThirty Ventures, Mighty Capital, Wormhole Capital, Mindset Ventures, Crew Capital, Aloft VC, Pilot founder Waseem Daher, Blumberg Capital, Correlation Ventures, TSVC, and Y Combinator.
Launched in 2021, Angle Health is a full-stack health insurance carrier delivering healthcare benefits tailored to startups and technology companies. Powered by its “integrated, AI-enabled technology platform,” the startup provides a digital-first care navigation which includes telemedicine, behavioral health, and other digital health solutions. Angle has attracted “tens of thousands” of members since launching.
Angle’s employer sponsored health insurance plans in the state of Utah are offered by Angle Insurance Company of Utah. Policies are reinsured by an insurer with a financial strength rating of A+ from both A.M. Best and Standard & Poor’s. The startup also offers employer sponsored health insurance solutions in Ohio, Indiana, Missouri, South Carolina, Arizona, Texas, Georgia, Florida, North Carolina, Nevada, Colorado, Tennessee, and Kentucky issued by Benchmark Insurance Company, an A rated carrier.
“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. Just as innovators like Kin and Lemonade have done for personal lines of insurance—Angle has made health insurance more convenient, approachable, and affordable for employers and members.” – Ricky Lai, partner at Portage.
“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.” – Ty Wang, CEO of Angle Health.
“Angle Health is a complete paradigm shift from traditional health insurance. They bring a sophisticated and customizable health plan approach to SMBs and mid-market employers in a way that has never been done before. Their ground-up data infrastructure enables superior digital customer experiences with greater transparency and patient care that incorporates best-in-class, third-party digital health providers.” – Victoria Cheng, partner at PruVen Capital.