# Clever Care Health Plan

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/clever-care-health-plan

- Industry: Insurance
- Headquarters: Huntington Beach, US
- Website: www.clevercarehealthplan.com
- Total disclosed funding: $139M
- Latest round: Series C (Dec 23, 2022)
- Investors on record: 13

## About

Clever Care Health Plan Inc., based in the US, provides innovative Medicare Advantage plans that integrate Eastern and Western medical practices to enhance culturally sensitive healthcare delivery.Clever Care Health Plan Inc. offers Medicare Advantage plans that cater to diverse communities. Founded in Huntington Beach, US, in 2019 by Hiep Pham, it has raised funding across 4 deals, with the latest being a Series C round in December 2022, securing USD 42.00 mn led by GV and supported by multiple investors. As of now, the company is valued at USD 203.02 mn.Clever Care Health Plan delivers comprehensive Medicare Advantage plans that blend Eastern and Western healthcare principles, focusing on Health Maintenance Organization (HMO) and HMO Chronic Special Needs Plans (C-SNP). Their services aim to address the unique healthcare needs of Medicare beneficiaries, ensuring culturally sensitive care through a network of primary care physicians and specialists across California, including Los Angeles, Orange, San Diego, San Bernardino, and Riverside.The company generates revenue through Medicare beneficiary enrollments into its Advantage plans, operating on a structured model where members pay monthly premiums. This revenue funds a range of services including preventive care, hospital services, and specialist visits, emphasizing affordability and compliance with Medicare regulations.Following its Series C funding of USD 42.00 mn in December 2022, Clever Care plans to utilize this capital to expand its network of independent physicians and clinicians, and to enter new markets ahead of the 2024 Annual Enrollment Period. Specific markets targeted for expansion have not been disclosed, but the strategy includes enhancing community-based wellness and care for its members.

## Funding rounds

- Series C, Dec 23, 2022, $42M — Norwest Venture Partners, GV, Windham Venture Partners, Novo Holdings, Health Velocity Capital, AV8 Ventures, Figure Eight Investments, PruVen Capital, Point32Health, Brighton Health Partners
- Series B, Sep 22, 2021, $71M — Norwest Venture Partners, Windham Venture Partners, Novo Holdings, Global Founders Capital, Health Velocity Capital, AV8 Ventures, CommonSpirit Health, Redesign Health, PruVen Capital
- Series A, Apr 24, 2020, $20M — Norwest Venture Partners, Global Founders Capital
- Seed, Aug 7, 2019, $6M — Norwest Venture Partners, Global Founders Capital

## Investors

- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Seed, Series A, Series B, Series C
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Seed, Series A, Series B
- Windham Venture Partners (https://capitalatlas.ai/funds/windham-venture-partners) — Series B, Series C
- Novo Holdings — Series B, Series C
- Health Velocity Capital (https://capitalatlas.ai/funds/health-velocity-capital) — Series B, Series C
- AV8 Ventures (https://capitalatlas.ai/funds/av8-ventures) — Series B, Series C
- CommonSpirit Health — Series B
- Redesign Health (https://capitalatlas.ai/funds/redesign-health) — Series B
- PruVen Capital (https://capitalatlas.ai/funds/pruven-capital) — Series B, Series C
- GV (https://capitalatlas.ai/funds/gv) — Series C
- Figure Eight Investments (https://capitalatlas.ai/funds/figure-eight-investments) — Series C
- Point32Health — Series C
- Brighton Health Partners — Series C