Clover Health

Clover Health is an American healthcare company whose goal is to use data analysis and preventive care to improve health insurance for seniors and give customers who use private versions of Medicare a less expensive option. The company’s technology recognizes when patients need medical treatment and then intervenes in their care with its own team of nurse practitioners and social workers to save money for both the member and the insurance company.

The company was founded in 2014 by Kris Gale and Vivek Garipalli, and currently operates in New Jersey.In September 2015, Clover Health raised $100 million in equity and debt funding, led by First Round Capital. Athyrium Capital Management also participated in the funding. Shortly after the company’s funding round in September, Clover Health announced its $35 million financing round led by Sequoia Capital on December 16, 2015.

Clover Health raised a $160 million Series C round of funding in May 2016, led by Greenoaks Capital. The company plans to use the funding to scale its technology and data science platforms, and expand into new markets.

On 12 May 2017 Clover health received $130 million from Google Ventures, Greenoaks and other new investors.

It was announced on October 6, 2020 that Clover Health would go public via a reverse merger with a special-purpose acquisition company.Several New Jersey legislators called for a probe of Clover following an investigation into a previous company CarePoint Health System a for profit healthcare system founded by Vivek Garipalli and Jeffrey Mandler prior to founding Clover. The investigation showed that CarePoint had funneled $150 million in management fees to CarePoints owners.