SAN FRANCISCO, July 21, 2020 /PRNewswire/ -- Angle Health, a Y Combinator-backed health insurance carrier, today announced that it has closed $4 million in a Series Seed funding round led by Blumberg Capital with participation from Y Combinator, Correlation Ventures, TSVC, Liquid 2 Ventures and several smaller funds and angels.
Angle Health is launching comprehensive health insurance plans designed to help startups save on benefits costs by providing options that are easy to understand, affordable and deliver more relevant coverage to employees. By combining research-backed digital and behavioral health programs with an integrated data infrastructure and machine-learning, Angle Health is able to provide a first-class member experience, reduce administrative overhead, and leverage data-driven insights to incentivize healthier lifestyles.
This initial seed funding will be used to complete Angle Health's regulatory filing, launch its mobile application and integrate infrastructure to support greater accessibility to medical services, including primary and urgent care, mental health, chronic disease management and reproductive health.
"Within the broad and rapidly evolving market for health insurance in the U.S., we were particularly attracted by Angle Health's focus on the startup demographic which is severely underserved and hungry for technological innovation - at highly attractive unit economics," said David Blumberg, founder and managing partner at Blumberg Capital. "The growth potential for Angle Health is massive. Technological advances are making medical services ever more accessible through easy access digital offerings, telemedicine and virtual healthcare. Angle Health will deliver the flexible, mobile-first, health care benefits that startups seek at affordable prices."
Angle Health's tech-enabled, digital experience will feature a mobile-application for members to easily manage all aspects of their health insurance, including submitting claims, booking appointments, engaging with their providers via telehealth, managing and ordering prescriptions, and tracking spend. Angle's integration with startup HR platforms provide a streamlined, entirely digital enrollment and billing process for employers and employees, reducing enrollment timelines and administrative inefficiencies. To make this possible, Angle has partnered with Noyo, the technology company whose suite of API integrations is powering back-end connections between health insurers and HR platforms industry-wide.
"Angle Health and Noyo share a commitment to making health insurance simpler and more transparent for both employers and employees," says Shannon Goggin, CEO of Noyo. "Small startups across the nation seek what Angle Health offers: modern health insurance designed specifically for them. We're proud to be a launch partner as Angle Health brings this much needed product to life."
Angle's plans will be ACA-compliant, covering all federal and state essential health benefits, and include integrated pediatric dental and vision benefits and optional bundled adult dental and vision.
"Today's startups expect a modern health insurance experience with convenience, transparency, and greater access to mental health and wellness services. Our vision is to be the gold-standard health insurance carrier for medical service delivery, accessibility, member satisfaction and health outcomes," said Tylon Wang, co-founder and CEO of Angle Health. "The funding allows Angle Health to launch our integrated platform to ultimately give users a seamless healthcare experience. This moves us one step closer to our mission: to eliminate preventable diseases by guaranteeing that quality healthcare is available and accessible to all that need it."
About Angle Health
Founded in 2019, Angle Health is a full-stack health insurance carrier launching tech-enabled health plans designed for startups. Angle's health plans will provide affordable coverage tailored to the healthcare needs of the modern employee. Backed by Y Combinator, Angle Health aims to become the go-to health insurance option for startups.
CONTACT: Taylor Donatell, PAN Communications, [email protected]
SOURCE Angle Health