The round of funding was led by Greenoaks Capital, and various investors participated — including First Round Capital, Arena Ventures, FLOODGATE and Nexus Ventures.
The insurer, which focuses on the Medicare managed care market, nabbed $135 million in Series A and B funding last year, according to the San Francisco Business Times.
Clover Health provides enrollees with out-of-network benefits and lets them pay nothing for monthly premiums, copayments and generic prescriptions. It was founded in 2012.
More articles on payer issues:
Ore. insurer bleeds $117M on individual marketplace
Idaho wants insurers to accept members’ charity aid
Cigna sets goal to cut opioid use by 25 percent
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