Melody Health Insurance, a Denver, CO-based startup health insurer, raised $3.8 million in equity funding.
The company closed on $2m last week, with investors having the option to invest an additional $1.8m within 90 days.
The round was led by Eduardo Cruz, CEO of the largest health insurance company in the Dominican Republic and Central America, with participation from other private investors.
Led by Sal Gentile, CEO and cofounder, Melody Health Insurance will provide health insurance to individual consumers throughout the U.S.
The funding will be used to expand the team and complete the filing and license process for the company’s launch into select states for 2017.