Insuretech Company Bright Health Raises $160 Million

Bright Health announced it has secured $160 million in Series B financing. Seven investors participated in the round: Greenspring Global Partners, Greycroft Partners, Redpoint Ventures, Cross Creek Capital, New Enterprise Associates, Bessemer Venture Partners, and Flare Capital Partners.

Bright Health is a venture-financed health insurance company that offers health plans and provides medical providers with economic rewards for practicing efficient, high-quality healthcare. The company is forming exclusive partnerships with a single health system in each market to support the relationship between patients and providers. The Minneapolis-based company is also reshaping how people and physicians achieve better health through its exclusive partnerships with health systems and health insurance plans.

In its announcement, the company said Bright Health will use the funding to fuel growth and support its mission to transform the healthcare system through its care partnership model.