Connie Health is a technology navigation platform for medical insurance beneficiaries, $13 million has been raised In the A round of financing, Khosla Ventures and Pitango Healthtech led the investment.
In addition, the Boston-based company announced that it will launch in Texas four months after starting operations in Arizona.
Oded Eran, co-founder and CEO of Connie Health, said that Connie Health was established in 2019 to provide medical insurance beneficiaries with an artificial intelligence-driven platform to help them find medical insurance plans that suit their needs and determine what is available for them Use the doctor and browse the benefits of their plan. company. The platform provides users with access to the plan recommendation engine and local experts in the medical insurance market.
“Although major innovations have been made in Medicare Advantage and value-based care, and numerous plans and provider choices have been created, it is important to help consumers navigate these options and understand new concepts such as value-based care, digital health, and telemedicine. There is less innovation, and more,” Elan said in an email.
Consumer surveys confirmed this. According to a survey in 2020, approximately 30% of health insurance beneficiaries generally stated that the plan is somewhat or very difficult to understand. Caesars Family Foundation.
Connie Health will use the new funds to further improve its recommendation technology and expand its local agent network in Arizona and Texas. Eran said the company also plans to launch in Illinois this year and continue to expand nationwide until 2022.
The latest round of financing brings the total funds raised by the company to US$16 million. The seed round in January 2020 and the current A round of financing also include Abstract Ventures, Dynamic Loop Capital, Arkitekt Ventures, as well as from Assaf Wand (founder and CEO of Hippo Insurance), Zach Weinberg and Nat Turner (Flatiron Health’s Founder)’s angel investment).
Several companies are emerging to meet the needs of medical insurance beneficiaries in planning navigation, including eHealth, SelectQuote, and GoHealth. Eran said, but Connie Health differentiates itself from its competitors by providing consumers with the option to register in a way that suits them, whether it’s online, by phone with local agents, or by letting agents come to visit.
“Our medical insurance agents are locals in the communities they serve, and they understand the local medical insurance system and hospital network,” he said. “This allows them to recommend where consumers can get the best care.”
Eran founded Connie Health with his co-founders David Luna and Michael Scopa, who have many years of experience in the medical insurance market.They previously helped establish Iora Health, a primary care start-up company focused on medical insurance Recently acquired One Medical acquired for $2.1 billion.
Photo: drogatnev, Getty Images
