Why We Invested: Angle Health Raises $134 Million to Scale AI-Native Health Benefits Platform

By Bruce Taragin, managing director, and Jared Katzen, senior associate

Angle Health, the first vertically integrated AI platform for healthcare benefits, recently closed a $134 million oversubscribed Series B round led by Portage, with participation from investors including Blumberg Capital, Mighty Capital, PruVen Capital, and Y Combinator among others. The round, a mix of debt and equity, brings total funding to nearly $200 million as the company scales operations to meet growing demand for alternative health plan products.

The U.S. healthcare industry is undergoing a period of major transformation. ACA premiums are projected to rise more than 15% – the largest increase since 2018 – while regulators closely review billing practices at UnitedHealth, and Centene navigates challenges in its Medicaid and ACA lines. These dynamics highlight both the scale and urgency of innovation in the $4 trillion U.S. health insurance market. Angle is at the forefront of this transformation, delivering AI-driven solutions that streamline costs, improve patient outcomes, and create real value across the system.

Angle Health’s mission is to transform employer-sponsored healthcare through a full-stack, AI-native benefits platform that simplifies administration, integrates seamlessly with existing systems, and empowers members with personalized, accessible care. Since Blumberg Capital led Angle’s Seed round in 2020, we’ve watched co-founders Ty Wang and Anirban Gangopadhyay, and the entire team consistently outperform: offering cost-effective plans while delivering superior coverage across 45 states, with plans to expand to all 50 states in the coming years. This growth is especially notable as many large insurers withdraw from the small group market due to underwriting and administrative challenges.

Since its early days, Ty and Anirban, who leveraged their experience at Palantir, the NSA and the DoD, have applied a data-first, AI-driven approach to nearly every business process. Angle’s claims processing, for example, operates hundreds of times more efficiently than traditional carriers, enabling faster, more accurate service and targeted care for at-risk members.

Co-founders Anirban Gangopadhyay and Ty Wang

Our continued investment, now through our Venture Growth fund, which backs breakout Series A to pre‑IPO stage companies transforming industries through data-driven innovation, reflects our conviction in Angle’s ability to redefine health insurance. The company is not only scaling rapidly but is also delivering transparency, efficiency, and member-centric care to an industry in critical need of disruption.

Congrats to Ty, Anirban, Andy Leeka and the entire Angle team on this milestone and the exciting chapter ahead!

Read more about Angle Health in Fortune.