$130 million Series D funding round

Clover Health, a medical insurance startup that provides Medicare Advantage plans, has closed a $130 million round of Series D financing.

The company is now valued at $1.2 billion post-money, according to a person familiar with the situation. The company’s spokeswoman declined to discuss its valuation.

WSJ Pro Venture Capital had reported on the fundraising when it was in progress last month.

Previous investor Greenoaks Capital Management led the round, according to Clover Health. New investor GV (formerly Google Ventures) participated with existing investors, including Sequoia Capital and Refactor Capital.

The deal brings Clover’s total equity raised to about $425 million, according to Dow Jones VentureSource. Bloomberg reported earlier the closing of this round.

Vivek Garipalli, an entrepreneur who started CarePoint Health, and Kris Gale, previously on the founding team of Yammer, are co-founders of Clover Health.

Read the full article in Wall Street Journal Pro here.