HealthCare.com raises $180 million

HealthCare.com announced the closing of $130 million in Senior Non-Convertible Preferred and over $50 million of Series C Preferred equity in an “oversubscribed” round led by funds managed by Oaktree Capital Management, L.P. Existing investors Axis Capital, Second Alpha and Link Ventures participated in the financing, as did founders.

HealthCare.com claims to match individuals to a variety of products in the healthcare space, including its own “proprietary insurance plans and customizable insurance product bundles.”

“We are thrilled to partner with premier investors who recognize that HealthCare.com is positioned for its next phase of explosive growth. There is a crisis of cost, transparency and access stemming from complexity and a slow pace of change in healthcare and health insurance. The consumer is at the center of our offering, and our ultimate product is their end-to-end healthcare experience. We aim to create an iterative relationship with the consumer that will span decades, improving lifelong wellness.” – Don Loonam, Chief Executive Officer of HealthCare.com.

“HealthCare.com is changing consumer behavior by disrupting the U.S. healthcare markets, creating new products and efficiencies with the objective of empowering consumers. Oaktree is excited to partner with the HealthCare.com team to continue scaling the company in its next phase of growth.” – Oaktree’s Brian Laibow.

“We’ve partnered with HealthCare.com since 2016 and have witnessed the company’s tremendous growth over the last couple of years. The company’s ability to rapidly develop new proprietary insurance products and its innovative distribution model, along with its ability to quickly scale with the use of technology, allows it to solve complex challenges in the health insurance ecosystem.” – AXIS Capital’s Linda Ventresca.