Let’s review the funding ABCs according to Bright Health.
Series A — as in, “A lot of money” — $80 million.
Series B — as in, “Bring on the money” — $160 million.
Series C — as in, “Cool, even more money!” — $200 million.
Today, the Minneapolis healthcare company announced its Series D funding.
Series D — as in, “Dayum” — $635 million.
“The Series D funding marks not only a major investment in our company’s future but is an affirmation from our existing investors that we have tapped into an unmet consumer demand for a better healthcare experience,” Bob Sheehy, Bright Health CEO, said in a statement.
The latest round of funding, led by NEA, pushes the company’s total equity raised to more than $1 billion. Follow-on investments also came from a number of entities including Bessemer Venture Partners, Cross Creek Advisors, Declaration Partners, Flare Capital Partners, Greenspring Associates, Meritech Capital, Redpoint Ventures and Town Hall Ventures.
“Real transformation will require disruption at every stage of the healthcare system and Bright Health designed its model with this in mind,” Mike Mikan, President and Vice Chairman of Bright Health, said in a statement. “By eliminating the friction that has traditionally existed between payers and providers, we are creating true alignment to drive down costs and improve health outcomes. This funding will bring us one step closer to creating a value-based healthcare system that streamlines the healthcare experience for the consumer.”