Summary:
Chapter raises $75 million in Series D funding.
Valuation reaches $1.5 billion.
Platform simplifies Medicare navigation for seniors.
CEO Cobi Blumenfeld-Gantz emphasizes the need for transparency.
Links to Trump administration raise questions about political influences.
Chapter, a Medicare navigation platform co-founded by Vivek Ramaswamy, has successfully raised $75 million in Series D funding, achieving a valuation of $1.5 billion. The funding round was led by Stripes, along with various private equity investors.
What does Chapter do?
The Chapter platform assists seniors in navigating the Medicare system, helping them choose health plans, prescription drug coverage, and locate doctors and hospitalsâtasks that can often be overwhelming for elderly Americans.
âNavigating Medicare is needlessly complex. Too many people end up with plans that cost more and cover less than they should,â stated Cobi Blumenfeld-Gantz, Chapterâs co-founder and CEO. The startup is committed to bringing transparency and trust to a rapidly changing Medicare ecosystem, aiming to provide unbiased, consumer-first Medicare guidance.
Despite Ramaswamy's initial involvement in founding Chapter in 2020, he has since stepped down from the board to pursue a political career. The startup has historical ties to the Trump administration, including links to current Vice President JD Vance and tech billionaire Peter Thiel, who has also invested in the company.
Amidst significant changes in the Department of Health and Human Services (HHS), which oversees Medicare, the administration is currently undergoing a massive overhaul, with thousands of layoffs affecting the Medicare and Medicaid services.
In the face of these challenges, Chapter aims to enhance the Medicare experience, ensuring that seniors receive the guidance they deserve as the Medicare landscape continues to evolve.
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