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. In contrast to many different Medicare insurance coverage brokers, Chapter claims to prioritize consumer wants over insurer income.
Naraya, the VC agency based by Vice President JD Vance, led Chapter’s Collection 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 the Chapter’s board, Democrat Donna Shalala, who served as a Secretary of Well being and Human Companies throughout the Clinton administration and later as U.S. Congresswoman, has stuffed the emptiness. Shalala told Bloomberg that Ramaswamy’s function and investments from Republicans Vance and Thiel weren’t a problem. “I don’t consider the corporate as political.”