Bright Health is a health insurance company that offers health plans, an integrated technology experience, and provides health systems economic rewards for practicing efficient, high-quality healthcare.
Bright Health partners with health systems and care partners to provide health plans and a connected healthcare experience to support relationships between consumers and care providers.
Bright Health was founded in Nov 2015 by Kyle Rolfing, Robert J. Sheehy & Tom Valdivia. The company is headquartered in Minneapolis, Minnesota with additional offices in Englewood, Colorado; Austin, TX; Phoenix, AZ, New York, NY; and Birmingham, Alabama.
Bright Health provides its health insurance plans directly to consumers via broker partners, and through public and private health insurance exchanges.
Bright Health works with “narrow networks” to suppress the cost of healthcare for those enrolled in their program. The company also has three technology components: a user interface, a data analytics module, and a platform that works with electronic medical records and telemedicine companies.
Bright Health offers a diverse set of health plan products and everyday clinical care delivery services to consumers. In alignment with its over 30 Care Partners, Bright Health leverages its integrated technology platform to provide health benefits coverage to over 200,000 members, as well as deliver high-quality virtual and direct clinical care services to over 120,000 patients.
Bright Health is backed by NEA, Bessemer Venture Partners, Tiger Global Management, T. Rowe Price Associates, Meritech Capital Partners, Greycroft, Redpoint and others. The company raised $600M in a new Series E round on Sep 22, 2020. This brings Bright Health's total funding to $1.7B to date. Bright Health become a Unicorn after it had raised $635M Series D round at a $1B valuation in Dec 2019. The company didn't disclose its valuation for the latest round.
Bright Health gained recognition of its health plan with a prestigious URAC accreditation that is recognized in all 50 states and the District of Columbia. The company has also acquired Spyder Trap on Jul 20, 2017.