Y Combinator insurance tech alum Angle Health hits $2.7B valuation

In Brief

These days, it’s uncommon to perceive of a startup founded successful 2019, oregon 1 not focused connected AI agents, raising a hefty Series C. But wellness security startup Angle Health announced Friday that it raised a $200 cardinal Series C, alongside a $400 cardinal tender offer, astatine a $2.7 cardinal valuation. The circular was led by Vitruvian Partners with information from Town Hall Ventures, Blumberg Capital, Portage Ventures, PruVen Capital, and Y Combinator. The tender connection allows employees to currency retired immoderate of their shares, the institution told TechCrunch. It expects the circular to adjacent aboriginal this month.

Angle Health, a winter 2020 YC alum, helps tiny businesses get and negociate what’s known arsenic “level funded wellness plans.” These are plans that onshore betwixt afloat insured and self-funded plans. In afloat insured plans, the bearer takes each the risks; specified plans are much costly but costs are predictable. With self-funded plans, the institution covers the expenses and costs tin beryllium unpredictable. With level-funded plans, businesses marque predictable payments to carriers, are insured against higher-than-expected costs, and tin perchance prevention wealth by getting a stock of the surplus backmost if expenses enactment low.

Angle says these plans tin marque wellness security much affordable for tiny businesses. It’s an AI-powered level that helps tiny businesses take and negociate plans, integrating with payroll and HR systems. The startup says it serves implicit 5,000 businesses and is profitable.

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