Angle Health Raises $200M Series C at $2.7B Valuation

The round was led by Vitruvian Partners, with participation from Town Hall Ventures, Blumberg Capital, Portage Ventures, PruVen Capital and Y Combinator, the company said Friday.

The financing values Angle Health at $2.7 billion and pairs the equity raise with a $400 million tender offer.

Founded in 2019 and a winter 2020 Y Combinator alum, the company focuses on "level-funded health plans," a middle ground between fully insured and self-funded coverage. Under fully insured plans the carrier absorbs the risk, which tends to cost more but keeps expenses predictable; with self-funded plans the employer covers costs and faces less certainty.

Angle Health positions those plans as a way to make coverage more affordable for smaller employers. Its AI-powered platform helps businesses select and administer plans, and integrates with payroll and HR systems.

The startup said it now serves more than 5,000 businesses and has reached profitability.