Clover Health joined the Unicorn Club after raising multiple rounds, including a $500M Series E in 2019, bringing total funding to $938M. Headquartered in Jersey City, New Jersey, United States, Clover Health provides technology-enabled Medicare Advantage insurance, combining data analytics, care coordination, and risk-adjusted reimbursement to improve member outcomes and streamline provider operations.
Keep reading to learn how Clover Health scaled its tech-driven Medicare Advantage platform.
What Is Clover Health and What Does It Do?
Founded in 2014 by Vivek Garipalli and Kris Gale, Clover Health is a Jersey City-based Medicare Advantage insurer that integrates technology to enhance care management and risk optimization. The company employs approximately 570 people and offers insurance plans, provider-facing analytics, and member care management tools.
Clover Health aggregates claims, clinical, and social determinants data to support proactive care interventions, improve outcomes, and manage risk-adjusted reimbursements. Revenue derives from premiums and care management services, with investments focused on analytics, provider networks, and clinical operations.
How Much Funding Has Clover Health Raised?
1. Series E
- Amount Raised: $500M
- Date: Jan 29, 2019
- Lead Investors: Greenoaks
- Purpose: Scale Medicare Advantage membership and operations
2. Series D
- Amount Raised: $130M
- Date: May 10, 2017
- Lead Investors: Google Ventures (GV), Palm Drive Capital
- Purpose: Technology and product development
3. Series C
- Amount Raised: $160M
- Date: May 23, 2016
- Lead Investors: Greenoaks, First Round Capital, Sequoia Capital
- Purpose: Early market expansion and care platform buildout
Total Funding Raised: $938M
Latest Funding Date: Jan 2019
Latest Known Valuation: $1.2B (as of May 2017)
Key Investors
- Greenoaks Capital
- Details: Growth equity investor focusing on technology businesses
- Focus Areas: Healthcare tech, fintech, consumer internet
- Notable Investments: Clover Health, Coinbase (select), other growth-stage tech
- Sequoia Capital
- Details: Leading VC with significant healthcare and tech bets
- Focus Areas: Healthtech, enterprise platforms
- Notable Investments: Clover Health, Airbnb, Google (historical)
- First Round Capital
- Details: Seed-stage investor backing early product-market fits
- Focus Areas: Healthtech, consumer startups
- Notable Investments: Clover Health, Uber (select), Square (select)
- GV (Google Ventures)
- Details: Corporate venture fund investing in health and AI
- Focus Areas: Healthtech, AI for healthcare
- Notable Investments: Clover Health, Flatiron Health (select), other medtech
- Casdin Capital / Others
- Details: Healthcare-focused growth investors participating in rounds
- Focus Areas: Healthcare services and insurtech
Where Is Clover Health’s Headquarters?
Clover Health is headquartered in Jersey City, New Jersey, United States, serving Medicare markets and provider networks across the U.S.
What’s Next for Clover Health?
Clover Health plans to refine risk-adjusted care models, expand Medicare Advantage membership, pursue partnerships with health systems, and improve clinical outcome measurement.
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