Bright Health raises $500 million Series E
Bright Health announced a $500 million Series E funding round, bringing its total funding to over $1.5 billion since its inception in 2016. The investment follows a $635 million Series D round announced late last year. Investors include Tiger Global Management, T. Rowe Price Associates, and Blackstone, with follow-on investments from existing investors including NEA, Bessemer Venture Partners and Greenspring Associates.
The Minneapolis-based company is a team of over 520 people. It operates in 43 markets and 13 states across the US with plans to expand to new geographies with this latest investment. Also, according to the company, it provides health benefits coverage to over 200,000 members and delivers high-quality virtual and direct clinical care services to over 120,000 patients.
“By aligning with our Care Partners, we have created a more personalized, affordable, and convenient end-to-end health care experience for consumers. This funding allows us to continue to scale our transformative model and fulfill our purpose of lowering health care costs while improving outcomes, experience and access.” – Bright Health CEO Mike Mikan.