Health Insurer Bright Health Lands $160M

Minneapolis-based healthcare company Bright Health announced that it has raised $160 million in a Series B round bringing its total funding to date to $240M . The round was led by Greenspring Associates and joined by new investors Greycroft Partners, Redpoint Ventures and Cross Creek Advisors. Existing lead investor New Enterprise Associates (NEA), as well as Bessemer Venture Partners and Flare Capital Partners also participated in the round. The startup operates in Colorado with Centura Health by its side; offering its plans directly to consumers, via broker partners, and through public and private health insurance exchanges. The news follows two closely related incidents. The shutdown of Harken Health; a UnitedHealthcare project, and the $130M funding round of Clover Health. Bottom Line: they’re thrilled.