Angle Health Reaches $2.7 Billion Valuation With $200 Million Series C Funding

Angle Health has announced a $200 million Series C funding round and a $400 million employee tender offer at a $2.7 billion valuation, marking a major financing milestone for the health insurance startup.

The funding round announced Friday was led by Vitruvian Partners, with participation from Town Hall Ventures, Blumberg Capital, Portage Ventures, PruVen Capital and Y Combinator. The company expects the transaction to close later in September.

The $400 million tender offer will allow employees to sell some of their shares in the privately held company.

Angle Health’s Small-Business Insurance Platform

Founded in 2019, Angle Health participated in Y Combinator’s Winter 2020 program. The startup helps small businesses obtain and manage level-funded health insurance plans, which combine features of fully insured and self-funded coverage.

Unlike fully insured plans, where carriers assume the financial risk, self-funded employers cover their employees’ medical expenses directly. Level-funded plans offer predictable payments and protection against unexpectedly high costs, while allowing businesses to potentially recover a portion of unused funds when claims remain low.

Angle Health uses an AI-powered platform integrated with payroll and human resources systems to help employers select and manage their coverage. The company says it serves more than 5,000 businesses and has reached profitability.