logo
logo

Sidecar Health Raises $125 Million to Scale “Cash Price” Health Insurance Offering

Jan 26, 2021•over 4 years ago

Amount Raised

$125 Million

Los Angeles

Description

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 Information

Company

Sidecar Health

Location

Los Angeles, California, United States

About

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.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech