Chapter Secures $75 Million Funding to Enhance Medicare Advisory Services for Seniors

Chapter, a Medicare advisory startup co-founded by Vivek Ramaswamy, recently completed a significant funding round, raising $75 million. This round was led by the private equity and venture firm Stripes and values the company at approximately $1.5 billion.

Focused Approach to Medicare Selection

This innovative startup aims to assist seniors in navigating their Medicare health plan options. By analyzing healthcare providers, facilities, and prescription drug coverage, Chapter distinguishes itself from traditional Medicare insurance brokers by prioritizing the needs of clients over the profit motives of insurance companies.

Investment History and Leadership Changes

Chapter’s journey began with funding from Naraya, a venture capital firm founded by Vice President J.D. Vance, who led the company’s Series A funding round in 2020. Notable tech entrepreneur Peter Thiel also participated in the funding. Following Vance’s departure to pursue a Senate candidacy in 2021, Thiel took over his board position.

Board Developments

Recently, Thiel stepped down from the board of Chapter. His vacancy has been filled by Donna Shalala, a former Secretary of Health and Human Services and U.S. Congresswoman. Shalala emphasized in a conversation with Bloomberg that the political affiliations of Ramaswamy, Vance, and Thiel do not play a role in the company’s ethos, stating, “I don’t think of the company as political.”

Conclusion

With this substantial funding boost, Chapter is poised to further enhance its services, providing tailored assistance to seniors as they navigate the complexities of Medicare health plans, all while maintaining a focus on client welfare.