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Health insurance startup Bright Health raises $160M in latest funding round

Healthcare startup Bright Health has raised $160 million in a series B funding led by Greenspring Associates Inc. and joined by new investors Greycroft Partners, Redpoint Ventures and Cross Creek Advisors.

Existing lead investor New Enterprise Associates, with Bessemer Venture Partners and Flare Capital Partners also participated in the new funding round. The funds will be used for expansion.

The company entered the Colorado market for the 2017 plan year and has offered health insurance plans to consumers through broker partners and through private and public health insurance exchanges. Additional markets, care partnerships, and Medicare Advantage plans are planned for 2018 and beyond.

The company in April 2016 raised $80 million in series A funding, which was used to support its nationwide rollout to the individual health insurance marketplace.