Sidecar Health Raises $125 Million to Scale “Cash Price” Health Insurance Offering
01/26/21, 2:14 PM
Location
los angelesMoney raised
$125 million
Health insurtech company Sidecar Health today announced it has raised $125 million in its Series C funding round at a valuation of $1 billion. The company utilizes a “cash price” model that enables members to pay lower “self-pay” or “cash” prices to their healthcare providers rather than the higher rates negotiated by insurance companies. The investment will further accelerate the company’s growth as well as fund the launch of a new Affordable Care Act offering for federal and state exchanges. The round was led by Drive Capital and joined by new investors BOND, Tiger Global and Menlo Ventures along with existing investors Cathay Innovation and GreatPoint Ventures
Company Info
Company
Sidecar Health
Location
los angeles, california, united states
Additional Info
Sidecar Health is changing health insurance. Unlike traditional insurance, which sits between the patient and the doctor, members pay for care directly when they receive it using the Sidecar Health Visa card. As a result, members can see any doctor, all coverage is transparent and members save 40% compared to traditional insurance. We believe it’s health insurance the way it should be.