Chapter: Medicare Startup Linked to Vance, Thiel, and Ramaswamy Secures Funding at $1.5B Valuation
Chapter, an innovative Medicare advisory startup co-founded by former Republican presidential candidate Vivek Ramaswamy, has successfully secured a significant $75 million funding round. This funding places the company’s valuation at an impressive $1.5 billion, with the investment led by the private equity and venture capital firm Stripes.
Chapter’s Unique Approach to Medicare Planning
Chapter is dedicated to assisting seniors in navigating the complexities of Medicare health plans. The startup stands out by analyzing essential factors such as doctors, hospitals, and prescription drug coverage to help clients make informed decisions. Unlike many traditional Medicare insurance brokers, Chapter emphasizes prioritizing client needs over insurer profits, ensuring a more personalized experience for seniors.
Funding and Leadership Changes
In 2020, Chapter raised its initial funding through a Series A round led by Naraya, a venture capital firm established by Vice President J.D. Vance. Notably, Peter Thiel, a prominent investor, also contributed to the company. Following Vance’s resignation to pursue a Senate run in 2021, Thiel stepped into Vance’s board seat. However, Thiel has since left the board, with Donna Shalala, a former Secretary of Health and Human Services and U.S. Congresswoman, stepping in to take his place.
Political Neutrality in Leadership
Shalala, in a recent interview with Bloomberg, emphasized that Ramaswamy’s political background and investments from Republican figures like Vance and Thiel do not influence the company’s operations. She stated, “I don’t think of the company as political,” highlighting Chapter’s commitment to serving its clients without political bias.
Conclusion
As Chapter continues to grow and innovate in the Medicare advisory space, it remains focused on providing valuable resources to seniors. With its recent funding and a strong leadership team, the startup is poised to make a significant impact in helping clients navigate their healthcare options.
