Bright Health

Bright Health is an American health insurance company.

In November 2018 it was announced Bright Health raises $200M at ~$950M valuation.

History
The company was founded by Bob Sheehy, the former CEO of United Healthcare, with partners Kyle Rolfing, Tom Valdivia and seed investor Flare Capital Partners, upon raising $81.5 million in venture capital in 2016. Sheehy is the company's CEO, and Rolfing is the company's president. Bright Health is based in Minneapolis, and first began offering plans in the State of Colorado, after several large insurers announced they would be pulling out of the state, in a partnership with Centura Health. In 2017 Bright Health acquired the marketing firm Spyder Trap, and its founder became Bright Health's Chief Technology Officer. It next began offering plans in the State of Arizona, before setting plans to sell in Alabama in 2018, partnering with Arizona Care Network (a insurer owned by Dignity Health and Abrazo Community Health Network) in Phoenix and Brookwood Baptist Health in Birmingham.

Health insurance
It began selling health insurance plans in 2017 and Medicare Advantage plans in 2018, in reaction to the Affordable Healthcare Act. In June 2017, the company raised an additional $160 million in Series B funding. Bright Health works with “narrow networks” to suppress the cost of healthcare for those enrolled in their program. The company also has three technology components: a user interface, a data analytics module, and a platform that works with electronic medical records and telemedicine companies.

References

External links 

 Bright Health - About Us

Category:Financial services companies established in 2016
Category:Health insurance companies of the United States
Category:Companies based in Minneapolis
Category:2016 establishments in Minnesota