This Health Tech Company Just Raised $160 Million

PUBLISHED BY Leena Rao

SOURCE Fortune

MAY 20, 2016

Clover Health raised new funds for its data-driven health insurance service.

Clover Health, an upstart health insurance company, just raised $160 million in new funding, making the round one of the largest for the burgeoning healthcare technology sector. This brings Clover’s total funding to $285 million.

Clover is trying to use data analysis and preventative care to improve healthcare for seniors and to give customers who use private versions of Medicare a cheaper option. The company’s technology is supposed to recognize when patients need medical treatment and then intervene in their care to save money for both the patient and the insurance company.

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