Clover Health, a San Francisco-based health insurance startup, raised $35m in Series B funding.
The round was led by Sequoia Capital with participation from First Round Capital and Athyrium Capital Management as well as other individual angel investors. In conjunction with the funding, Sequoia’s Michael Dixon joined Clover’s board of directors.
The company plans to use the funds to scale its engineering, data science and care management teams as well as expand to new markets.
Founded in 2012 by Vivek Garipalli, CEO, and Kris Gale, CTO, Clover Health is a health insurance company that leverages a data and analytics platform using real-time monitoring to take a proactive role in care management, prevent hospital admissions, reduce avoidable spending, and identify and manage chronic diseases. It aggregates and structures data from a wide range of sources – from lab and radiology results, to customer service interactions and home visits.
Clover’s experience includes a $0 monthly premium, $0 co-pay for primary care doctors, $0 payment for generic prescriptions, and other out-of-network benefits.