Medicare-focused startup EasyHealth raises $ 135 million in equity and debt financing
This morning, Medicare-focused EasyHealth announced a huge fundraising hike of $ 135 million. According to TechCrunch, which breaks down into a $ 100 million credit facility and $ 35 million equity financing.
Anthemis Group and QED Investors led the round with participation from Victory Park Capital, Nationwide Ventures, Health Ventures, Brewer Lane and Operator Partners.
WHAT HE DOES
EasyHealth is positioned as an end-to-end Medicare platform. The AI-powered platform designed to help engage patients and target preventative care. Its platform aims to fill information gaps and identify health risks at an early stage. Using disparate medical records and a risk analysis engine, the platform is able to identify potential health issues for its members.
EasyHealth is working with Medicare Health Plans to implement its care navigation tool.
WHY IT’S FOR
The company, founded in 2020, has not explicitly stated what the money will be used for, but growth appears to be a goal.
“As an industry leader, EasyHealth is well positioned to seize future growth opportunities as healthcare plan enrollments continue to increase,” said Connell Hasten, partner at Victory Park Capital, in a statement. communicated.
“The Medicare enrollment process has been ripe for improvement over many years, and we are strong supporters of EasyHealth’s differentiated approach and vision. We look forward to partnering with their growing team as they continue to reduce barriers for Americans to enroll in health insurance plans tailored to their individual needs.
As the US population continues to age, more digital health companies are turning to the Medicare market. According to the CDC, in 2016, there were 49 million seniors in the United States. By 2030, that number is expected to reach 71 million.
In June, the hybrid care provider One Medical has acquired medicare-focused provider Iora Health for $ 2.1 billion.
In addition, supported by technology Medicare Advantage Devoted Health closed a $ 1.15 billion Series D funding in October. In 2020, Alignment Healthcare, a Medicare Advantage insurer secured $ 135 million in Series C funding.
ON THE RECORD
“We couldn’t be more excited to partner with EasyHealth,” Amy Nauiokas, Founder and CEO of Anthemis, said in a statement. “They are disrupting the health insurance space by allowing insurance providers to help Medicare-eligible people select their ideal health care plan.
“Having quick and efficient access to benefits is more important than ever in today’s pandemic environment, and EasyHealth plays a critical role in providing health and financial security to those who need it most. “