Angle Health announces completion of US$58mn Series A round

Angle Health’s latest US$58mn Series A funding round will drive insurtech’s expansion into Arizona as the provider rolls out new services

Angle Health Insurance has announced the completion of its Series A funding round, which raised US$58mn.

The digital first provider which is headquartered in San Francisco, launched in 2021, and is a fully-licensed health insurance provider that aims to bring transparency, simplicity, and ease of use to members, employers, and brokers in a frictionless experience.

The company aims to bridge the gap between health insurance, traditional healthcare providers, digital health, and wellness by bringing these disparate point solutions into a cohesive ecosystem.

Investment opportunities for Angle Health

The latest funding drive was led by Portage, a global investment platform focused on fintech and financial services. 

Other participants included PruVen Capital, Wing Venture Capital, SixThirty Ventures, Mighty Capital, Wormhole Capital, Mindset Ventures, Crew Capital, Aloft VC, and Pilot founder Waseem Daher; and support from existing investors Blumberg Capital, Correlation Ventures, TSVC, and Y Combinator. 

Using technology to drive better healthcare: Angle Health

Angle health uses next-generation technology to power its integrated, AI-enabled platform. It also offers tailored comprehensive healthcare benefit plans for employers alongside telemedicine, behavioral health, and other digital health solutions – normally sitting outside of the traditional health insurance environment at minimal to no cost for members. 

The insurtech’s policies are also reinsured by an insurer with a financial strength rating of A+ from both A.M. Best and Standard & Poor's. 

Angle Health to take growth strategy to next level

The funding round announcement follows the health insurtech’s recent expansion into Arizona, Georgia, Indiana, Ohio, Missouri, and South Carolina.

According to reports, Angle Health has an initial focus on the employer-sponsored health plan segment - which is currently estimated to be a $1.2+ trillion market covering over 155 million Americans.

Despite only launching in 2021, Angle Health has proved a popular choice and it therefore already providing protection for tens of thousands of members on its fully-insured and self-funded products since launching in 2021.

Speaking about the latest funding drive, Ricky Lai, Partner at lead investor Portage, explained: "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. " 

Ty Wang, CEO of Angle Health, said: “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.”

He added: “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."


Featured Articles

The life and career of Defaqto CEO John Milliken

We look at the life and career of John Milliken, CEO of Defaqto – a company known for issuing star ratings, but with far more going on under the hood…

US cyber insurtech Corvus agrees $435m sale to Travelers

US cyber insurtech Corvus Insurance has agreed a significant US$435m sale to P&C insurance giant Travelers, which is expected to close next year

NEXT Insurance in $265m partnership with Allianz & Allstate

NEXT Insurance, the Silicon Valley-based small business insurer, is partnering up with both Allianz and Allstate, who are investing US$265m into the firm

Climate and cyber risk among consumers' top concerns – AXA

Technology & AI

Customers demand green insurance – but are insurers ready?


InsurTech LIVE highlights: Part 3