Insurance startup Collective Health raises $81M

San Mateo, Calif.-based health insurance and software startup Collective Health closed an $81 million Series C funding round Tuesday, including investors Google Ventures, NEA and Founders Fund.

This brings Collective Health's total funding to $119 million since it was founded two years ago to revamp the U.S. employer-sponsored health insurance experience.

The platform, which currently serves California-based employers, plans to expand nationally next year and serve 30,000 members and process more than $200 million in claims. To bolster its benefits plan, Collective Health also announced Tuesday partnerships with Anthem and Blue Shield of California.

With its new partners and plans to expand nationally, it says it is on track to process more than $2 billion in claims in 2017.

 

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