Health Insurance Carrier Angle Health Secures $4 Million

By Annie Baker ● Jul 22, 2020
  • Angle Health — a Y Combinator-backed health insurance carrier — announced that it has closed $4 million in a Series Seed funding round led by Blumberg Capital

Angle Health — a Y Combinator-backed health insurance carrier — 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.

What does Angle Health do? Angle Health is launching comprehensive health insurance plans built to help startups save on benefits costs by providing options that are easy to understand, affordable, and deliver relevant coverage to employees. And by combining digital and behavioral health programs with an integrated data infrastructure and machine-learning, Angle Health can provide a solid member experience, reduce administrative overhead, and leverage data-driven insights to incentivize healthier lifestyles.

This initial seed round of funding will be used to complete Angle Health’s regulatory filing, launch its mobile application, and integrate infrastructure to support greater access to medical services, including primary and urgent care, mental health, chronic disease management, and reproductive health.

Plus Angle Health’s tech-enabled and 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. And 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. In order 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’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.

KEY QUOTES:

“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. 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.”

— Tylon (Ty) Wang, co-founder and CEO of Angle 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. 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.”

— David Blumberg, founder and managing partner at Blumberg Capital

“Angle Health and Noyo share a commitment to making health insurance simpler and more transparent for both employers and employees. 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.”

— Shannon Goggin, CEO of Noyo