Total amount raised
$109 Millions
Latest funding date
05/01/2024
Location
Chapter has successfully raised funds through multiple rounds, with its latest being a Series C. The company is backed by notable investors including Narya Capital and XYZ Venture Capital.
Keep reading to explore the intricacies of Chapter's fundraising journey and the investors backing this innovative platform.
What Is Chapter?
Chapter, founded in 2020, is a Medicare navigation platform based in New York, New York. The company was established by Cobi Blumenfeld-Gantz, Corey Metzman, and Vivek Ramaswamy.
Chapter offers advisory services to help seniors select the right health coverage, ensuring they get the best value for their needs. The platform aligns incentives between Medicare advisors and consumers to provide optimal coverage at the lowest possible price.
With a team of 101-250 employees, Chapter leverages data and technology to assist older Americans in navigating their Medicare options effectively.
How Much Funding Has Chapter Raised?
- Series C
- Amount Raised: $50M
- Date: May 2024
- Lead Investors: XYZ Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and hiring efforts, and to support the launch of a new Over The Counter (OTC) product.
- Series B
- Amount Raised: $42M
- Date: January 2022
- Lead Investors: Addition
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's technology platform and increase its market reach.
- Series A
- Amount Raised: $17M
- Date: September 2021
- Lead Investors: Narya Capital, Peter Thiel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and scale operations.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the initial version of the platform and begin market penetration.
Total Amount Raised: $109M. Current Valuation: Not publicly disclosed.
Key Investors
- XYZ Venture Capital
- Details: XYZ Venture Capital led the Series C funding round for Chapter. They are known for investing in companies that provide significant value to their ecosystems.
- Investment Focus Areas: Public sector innovations, healthcare technology, consumer-centric services.
- Notable Investments: Not publicly disclosed.
- Narya Capital
- Details: Narya Capital participated in multiple funding rounds for Chapter, including Series A, B, and C. They typically invest in early-stage companies with high growth potential.
- Investment Focus Areas: Early-stage companies, high growth potential, technology-driven businesses.
- Notable Investments: Not publicly disclosed.
- Addition
- Details: Addition was a key investor in Chapter's Series B and C funding rounds. They focus on technology-driven companies.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Not publicly disclosed.
- Susa Ventures
- Details: Susa Ventures participated in Chapter's Series C funding round. They invest in companies with strong technology and data-driven approaches.
- Investment Focus Areas: Technology, data-driven businesses, healthcare.
- Notable Investments: Not publicly disclosed.
- Maverick Ventures
- Details: Maverick Ventures also participated in Chapter's Series C funding round. They invest in innovative companies across various sectors.
- Investment Focus Areas: Innovation, healthcare, technology.
- Notable Investments: Not publicly disclosed.
What's Next for Chapter?
Chapter's future looks promising as it leverages its recent $50 million Series C funding to accelerate product development and expand its team. The company aims to support ten times more Americans in navigating their Medicare options, a significant opportunity given the vast and growing Medicare market. With the launch of new products like the Over The Counter (OTC) product, Chapter is well-positioned to attract more consumers and deepen partnerships with financial institutions and health systems.
Future fundraising opportunities seem likely, given the strong investor confidence demonstrated in the recent funding round. Chapter's innovative approach and rapid growth could attract additional venture capital or strategic investments from health-related companies. However, the company will need to navigate regulatory changes and maintain high-quality guidance at scale to stay ahead in the competitive Medicare navigation space.
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