Digital-first medical health insurance startup Angle Health Inc. says it’s prepared to rework the healthcare trade after closing on a $58 million early-stage spherical of funding.

Right now’s Collection A spherical was led by Portage, with participation from new traders PruVen Capital, Wing Enterprise Capital, SixThirty Ventures, Mighty Capital, Wormhole Capital, Mindset Ventures, Aloft VC and Inc. founder Waseem Daher. Present backers Blumberg Capital, Correlation Ventures, TSVC and Y Combinator additionally joined in.

Angle Well being was co-founded in 2021 by former Palantir Applied sciences Inc. engineers Ty Wang, its chief government officer, and Anirban Gangopadhyay, its chief expertise officer. They created the corporate after turning into pissed off with their experiences of the non-public medical health insurance trade within the U.S. The startup desires to reinvent the best way Individuals get hold of medical health insurance by bringing conventional healthcare suppliers, digital well being and wellness right into a single, cohesive ecosystem that promotes higher well being.

The startup participated within the accelerator Y Combinator’s Winter 2020 cohort and has been constructing its synthetic intelligence-powered app and regulatory infrastructure since then.

Wang defined that Angle Well being’s mission is to unify the fragmented healthcare advantages system. He mentioned that underneath its present guise, it severely limits most individuals’s entry to fashionable healthcare providers reminiscent of telemedicine, digital behavioral well being and continual illness administration.

“Simply as instruments for navigation and ride-sharing have eradicated the necessity to learn maps and avenue indicators to traverse the bodily world, Angle Well being is eliminating the necessity for members to navigate the complexities of the healthcare system on their very own, and empowering members to get care with out breaking the financial institution,” Wang mentioned.

Angle Well being does this with a digital-first care navigation experience supplied by means of its cellular utility, with a spread of complete healthcare profit plans that employers can supply to their workers. Telemedicine, behavioral well being and different digital well being providers, which historically have all the time been exterior the scope of medical health insurance suppliers, are core choices built-in into every Angle Well being plan at both minimal, or no price. Furthermore, every particular person who indicators as much as certainly one of Angle Well being’s plans will get direct entry to the Angle Care workforce, which is obtainable 24/7 to reply any questions regarding well being.

Portage Accomplice Ricky Lai mentioned Angle Well being is ready to rework an trade that’s dominated by inflexible profit plans, opaque underwriting and tough switching prices. “Simply as innovators like Kin and Lemonade have accomplished for private traces of insurance coverage, Angle Well being has made medical health insurance extra handy, approachable and inexpensive for employers and members,” he mentioned.

Angle Well being mentioned that it’s already offering medical health insurance protection to 1000’s of members, having expanded into Arizona, Georgia, Ohio, Missouri and South Carolina. It counts a rising variety of brokers and corporations which have chosen Angle Well being as their major healthcare insurance coverage associate, together with NFP Corp., Leavitt Group Enterprises Inc., Aon Plc. and Atomic Fi Inc.

“As a high-growth startup we wish to maintain our staff wholesome and supply them with best-in-class healthcare advantages,” mentioned Atomic Fi Particular Advisor Bailee Jones. “Angle Well being is extra than simply an insurance coverage firm — they’ve put our staff on the middle, consistently going out of their means to supply care and help.”

Picture: Angle Well being

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