Bright Health Inc., a Minneapolis, MI-based health plan company, raised $500M in Series E funding.
Backers included funds and accounts advised by Tiger Global Management, T. Rowe Price Associates and Blackstone, and existing investors NEA, Bessemer Venture Partners and Greenspring Associates. With this fundraise, Bright Health Inc. has raised over $1.5 billion in equity financing since early 2016.
The proceeds, along with the existing capital, will be used to accelerate the company’s growth and diversification of the business and geographies in which it operates.
Led by G. Mike Mikan, CEO, Bright Health offers a diverse set of health plan products and everyday clinical care delivery services to consumers. In alignment with its over 30 Care Partners, the company leverages its integrated technology platform to provide health benefits coverage to over 200,000 members, as well as deliver high-quality virtual and direct clinical care services to over 120,000 patients.
Bright Health operates in 43 markets and 13 states across the U.S. Boasting more than $1.2 billion in annual net revenue and an industry-leading medical care ratio.