Connie Overall health, a technological innovation-enabled navigation platform for Medicare beneficiaries, has raised $13 million in a Series A funding round led Khosla Ventures and Pitango Healthtech.
In addition, the Boston-based mostly corporation announced it is launching in Texas four months following starting operations in Arizona.
Established in 2019, Connie Health gives Medicare beneficiaries an artificial intelligence-driven platform that can help them find the proper Medicare system for their requires, identify doctors available to them and navigate their plans’ gains, explained Oded Eran, co-founder and CEO of the organization. The platform gives people obtain to a prepare advice motor and local gurus in the Medicare market.
“While there has been significant innovation in Medicare Benefit and price-centered care, producing many system and provider solutions, there has been a lot less innovation in supporting individuals navigate these possibilities alongside with understanding novel ideas these as worth-centered treatment, electronic overall health, telehealth, and more,” Eran reported, in an email.
Buyer surveys bear this out. About 30% of Medicare beneficiaries general explained the application was relatively or really hard to comprehend, in accordance to a 2020 survey by Kaiser Loved ones Foundation.
Connie Well being will use the new cash to increase its tips technologies more and extend its local agent community in Arizona and Texas. The organization also strategies to start in Illinois this yr and continue on its national expansion via 2022, Eran claimed.
The most up-to-date financing spherical brings the overall sum of funding elevated by the firm to $16 million. The January 2020 seed spherical and present-day Series A also saw participation by Abstract Ventures, Dynamic Loop Cash, Arkitekt Ventures, as effectively as angel investments from Assaf Wand (founder and CEO of Hippo Insurance), Zach Weinberg and Nat Turner (founders of Flatiron Wellbeing).
Quite a few organizations are climbing to fulfill Medicare beneficiaries’ demands regarding strategy navigation, which includes ehealth, SelectQuote and GoHealth. But Connie Wellbeing differentiates by itself from its competition by providing individuals the selection to enroll in a way that satisfies them, whether or not it be on the net, by mobile phone with a neighborhood agent or by acquiring an agent go to their household, Eran mentioned.
“Our Medicare brokers are community to the communities that they support, and they fully grasp the area Medicare process and medical center networks,” he mentioned. “This allows them to suggest where people can receive optimal treatment.”
Eran, alongside with his co-founders David Luna and Michael Scopa, started Connie Health with several years of working experience in the Medicare market below their belts. They formerly assisted make Iora Wellness, a Medicare-targeted most important treatment startup that was not too long ago acquired by Just one Professional medical for $2.1 billion.
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