Chapter, a Medicare advisory startup co-founded by former Republican presidential hopeful Vivek Ramaswamy, has closed a $75 million funding round at a valuation of $1.5 billion led by non-public fairness and enterprise agency Stripes.
The startup helps seniors select Medicare well being plans analyzing medical doctors, hospitals, and prescription drug protection. Not like many different Medicare insurance coverage brokers, Chapter claims to prioritize consumer wants over insurer income.
Naraya, the VC agency based by Vice President J.D. Vance, led Chapter’s Sequence A spherical in 2020. Peter Thiel, who additionally invested within the firm, assumed Vance’s board seat when Vance resigned to run for Senate in 2021.
Whereas Thiel has since resigned from Chapter’s board, Democrat Donna Shalala, who served as Secretary of Well being and Human Providers throughout the Clinton administration and was later a U.S. Congresswoman, has crammed the emptiness. Shalala told Bloomberg that Ramaswamy’s position and investments from Republicans Vance and Thiel weren’t a problem. “I don’t consider the corporate as political.”
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