Corridor raises $25 million

Corridor, an AI-native benefits brokerage built for small businesses, has launched with $25 million in funding. The round was led by Bain Capital Ventures, with participation from BoxGroup, Definition Capital and angel investors including founders and executives from OpenAI, Modal, Ramp, Scale AI, Oscar, Rogo, Decagon, Medallion, Reducto, and Tennr.

The New York-based startup uses AI agents to handle the operational work behind the brokerage, from organizing company and plan data and comparing options across carriers to building proposals, supporting enrollment and coordinating with carriers.

Corridor was founded by Aggarwal, Jason Dong, Jackson Wagner and Eric Qian. Aggarwal led growth at ICHRA platform Venteur, building 250+ brokerage partnerships, while Dong co-founded pharma payments business Mural Health. Wagner and Qian built AI and data infrastructure products at Scale AI.

“For decades, small businesses have been sold the leftovers of the health insurance market. But health insurance is just as complex and consequential, whether a company has 60 employees or 6,000. We built Corridor to give small businesses access to the same caliber of service as the largest companies in America. If we do our job right, small business owners and their employees should never have to think about health insurance again.” – Nikhil Aggarwal, CEO and co-founder of Corridor.

“Founders usually tell us how large a market can become. Nikhil made it clear he wanted healthcare to be a smaller one. Administrative cost is the part of a premium that buys no care, and insurance distribution is where much of it accumulates because the work is still manual. Corridor’s agents do that work, so every employer gets quoted against the full market and carriers have to compete on price. It’s precisely the kind of company we raised our newest fund to back, and it’s why we led Corridor’s round.” – Ryan Kim, Partner at Bain Capital Ventures.