# Advise Insurance Agency

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/advise-insurance-agency

- Industry: Healthcare IT
- Headquarters: Bloomington, US
- Website: www.adviseinsurance.com
- Total disclosed funding: $100M
- Latest round: Series A (Mar 10, 2021)
- Investors on record: 3

## About

Advise Insurance Agency LLC is a US-based firm specializing in health insurance solutions, focusing primarily on Medicare services to streamline enrollment processes and enhance member engagement through technology.Founded in 2018 and headquartered in Bloomington, US, Advise Insurance Agency LLC provides health insurance services. The company has not undergone significant pivots or changes in its operating strategy. Sherman Rogers, the CEO and founder, has previously led other ventures in the healthcare sector. In March 2021, Advise Insurance Agency LLC successfully raised USD 100 mn in Series A funding, led by Oak HC/FT Partners, with participation from Adams Street Partners and Hamilton Lane. This investment was aimed at driving the company's growth and expansion efforts.Advise Insurance Agency LLC offers a variety of services to enhance the enrollment experience for Medicare beneficiaries. Their offerings include expert health insurance enrollment support, telesales operations, and a proprietary platform called Ascend, which provides real-time quoting and member engagement tools. The agency also emphasizes health activations to improve member health and satisfaction, and primarily serves Medicare beneficiaries, health plans, and insurance agents across the United States.Advise Insurance Agency LLC generates revenue through structured transactions with health plans and Medicare beneficiaries. Their focus on B2B direct-to-consumer models includes partnerships with healthcare providers and insurance companies to streamline enrollment processes. Their financial model consists of subscription-based services for the Ascend platform and fees for telesales operations, emphasizing successful enrollments and member activations.Following the funding raised in March 2021, Advise Insurance Agency LLC plans to expand its operations into approximately 100 markets across 40 states within the next two years. Specific target locations for this expansion include Orlando, Tampa, El Paso, and Austin. The recent funding will support these initiatives, allowing the company to broaden its reach and enhance service offerings in new geographic regions.

## Funding rounds

- Series A, Mar 10, 2021, $100M — Adams Street Partners, Hamilton Lane, Oak HC/FT

## Investors

- Adams Street Partners (https://capitalatlas.ai/funds/adams-street-partners) — Series A
- Hamilton Lane (https://capitalatlas.ai/funds/hamilton-lane) — Series A
- Oak HC/FT (https://capitalatlas.ai/funds/oak-hc-ft) — Series A