Chapter, a Medicare Advisory Startup, Secures $75 Million Funding Round
Chapter, a Medicare advisory startup co-founded by former Republican presidential hopeful Vivek Ramaswamy, has successfully closed a $75 million funding round, valuing the company at $1.5 billion. This funding round was led by private equity and venture firm Stripes, showcasing confidence in Chapter’s mission and potential.
One of Chapter’s main objectives is to assist seniors in selecting the most suitable Medicare health plans by thoroughly analyzing various factors such as doctors, hospitals, and prescription drug coverage. What sets Chapter apart from other Medicare insurance brokers is its commitment to prioritizing client needs over insurer profits, ensuring that seniors receive the best possible guidance and support.
Notably, Naraya, a VC firm founded by Vice President J.D. Vance, played a significant role in Chapter’s Series A round back in 2020. Peter Thiel, a renowned investor who also supported the company, took over Vance’s board seat when Vance decided to pursue a political career in 2021.
Although Thiel has since stepped down from Chapter’s board, Democrat Donna Shalala, who has a wealth of experience in healthcare and government, including serving as Secretary of Health and Human Services and a U.S. Congresswoman, has joined the board. In a statement to Bloomberg, Shalala emphasized that Chapter’s operations and partnerships with individuals from various political backgrounds, including Ramaswamy, Vance, and Thiel, are not viewed through a political lens. She stated, “I don’t think of the company as political.”
