Venture Capital

Angle Health Lands $58 Million Series A

SAN FRANCISCO — Angle Health, a digital-first, fully-licensed health insurance provider, has landed $58 million in Series A funding led by Portage. Its latest round also included participation from PruVen Capital, Wing Venture Capital, SixThirty Ventures, Mighty Capital, Wormhole Capital, Mindset Ventures, Crew Capital, Aloft VC, and Pilot founder Waseem Daher; and support from existing investors Blumberg Capital, Correlation Ventures, TSVC, and Y Combinator.

Following its recent expansion into ArizonaGeorgiaIndianaOhioMissouri, and South Carolina, with initial focus on the employer-sponsored health plan segment — Angle Health is already covering tens of thousands of members on its fully-insured and self-funded products since launching in 2021.

“Angle Health brings a customizable, fully digital solution to an industry dominated by rigid benefit plans, opaque underwriting, difficult switching costs, and siloed point solutions,” said Ricky Lai, Partner at Portage. “Just as innovators like Kin and Lemonade have done for personal lines of insurance—Angle has made health insurance more convenient, approachable, and affordable for employers and members. ”

Launched in 2021, Angle Health is bridging the divide between health insurance, traditional healthcare providers, digital health, and wellness by bringing these disparate point solutions into a cohesive ecosystem.

“At Angle Health, we have an ambitious vision to unify the fragmented healthcare benefits system, which today severely limits access to, and availability of, modern healthcare services like telemedicine, digital behavioral health, and chronic disease management,” says Ty Wang, CEO of Angle Health. “Just as tools for navigation and ride-sharing have eliminated the need to read maps and street signs to traverse the physical world, Angle Health is eliminating the need for members to navigate the complexities of the healthcare system on their own, and empowering members to get care without breaking the bank.”

Powered by its integrated, AI-enabled technology platform, Angle Health provides a digital-first care navigation experience with its fully tailored comprehensive healthcare benefit plans for employers. Telemedicine, behavioral health, and other digital health solutions – normally sitting outside of the traditional health insurance environment – are core offerings integrated into all Angle Health plans at minimal to no cost for members. Angle Health’s insurance policies are reinsured by an insurer with a financial strength rating of A+ from both A.M. Best and Standard & Poor’s. With tens of thousands of members across states, and access to a national network of healthcare providers and facilities, top employers, and a growing roster of brokers and agencies, including NFPGallagherGBS/LeavittAon, and Hub, are choosing Angle Health as their healthcare insurance and benefits provider.

“Angle Health is a complete paradigm shift from traditional health insurance. They bring a sophisticated and customizable health plan approach to SMBs and mid-market employers in a way that has never been done before,” said Victoria Cheng, Partner at PruVen Capital. “Their ground-up data infrastructure enables superior digital customer experiences with greater transparency and patient care that incorporates best-in-class, third-party digital health providers.”

Co-founded by former Palantir engineers, CEO Ty Wang and CTO Anirban Gangopadhyay, Angle Health was born out of the duo’s frustration with their personal health insurance experiences. The company has been building its AI-powered technology platform and regulatory infrastructure since participating in Y Combinator’s Winter 2020 cohort and its $4 million seed funding round in the summer of 2020.