Clover Health, a San Francisco-based health insurance startup, raised $100m in equity and debt financing.
The round includes a Series A led by First Round Capital, with participation from Athyrium Capital Management, the founders and other individual investors. Josh Kopelman, partner, First Round Capital, and Nat Turner, co-founder, Flatiron Health, joined Clover’s board.
The company intends to use the funds to scale in its initial market, expand to new markets and continue development of its clinical data platform.
Led by Vivek Garipalli, co-founder and CEO, and Kris Gale, co-founder and CTO, Clover Health provides a data and analytics platform that uses continuous, real-time monitoring to prevent hospital admissions, reduce avoidable spending, and identify and better manage chronic diseases.
Member profiles allow nurse practitioners to identify the most at-risk patients, prepare for home visits, and coordinate necessary tests that may be missing in the patient’s profile. Nurse practitioners are sent to members’ homes in coordination with their physician following hospital visits to ensure that after-care information is interpreted by the patient accurately and medications are being reconciled and taken. In addition, physicians have access to patient data from sources beyond claims including lab results, radiology, and non-clinical information from home visits, so they can make informed decisions regarding treatment.