Insurance Tech Company Clover Health Raises $130 Million

Clover Health announced it has secured $130 million in financing. Six investors contributed to the round, including GV, Palm Ventures, Greenoaks Global, Sequoia Capital, and First Round Capital.

Clover Health aims to reinvent the health insurance model by integrating technology into every aspect of its members’ healthcare. The Clover data and analytics platform uses continuous, real-time monitoring to prevent unnecessary hospital admissions, reduce avoidable spending, and identify and better manage chronic diseases.

According to the company, the recent cash infusion boosts Clover Health’s total funding to $425 million. The company is using the funding for expansion, with operations planned in as many as three additional states by October.