Bright Health, a Minneapolis-based insurance company that provides exclusive Care Partner Health Plans for everyday individuals at competitive prices, raised $200m in Series C funding.
Backers included new investors Declaration Partners and Meritech Capital, as well as existing investors Bessemer Venture Partners, Cross Creek Advisors, Flare Capital, Greenspring Associates, Greycroft Partners, New Enterprise Associates (NEA), Redpoint Ventures, and Town Hall Ventures.
The company, which has raised raised more than $440 million in three rounds of equity financing since early 2016, intends to use the capital for expansion in 2020 and beyond, as well as reinforce its consumer-centric technology platform.
Co-founded in 2016 by Bob Sheehy, Kyle Rolfing, and Tom Valdivia, Bright Health provides health insurance for everyday individuals. The company currently offers a range of individual, family and Medicare Advantage plans in Alabama, Arizona, Colorado, New York City, Ohio and Tennessee via its website, call center, broker partners and through government websites as well as public health insurance exchanges.