Curative Health Insurance raises over $150m in Series B funding

Core Insights - Curative Health Insurance Company has raised over $150 million in Series B funding, increasing its valuation to $1.25 billion [1] - The funding will support the advancement of its $0-out-of-pocket health plan and facilitate national expansion, particularly in the mid-Atlantic states [1][3] - The Series B round was led by TED chairman Chris Anderson's Upside Vision Fund, with significant contributions from other investors [2] Funding and Investment - The Series B funding round included a personal and JAM Fund contribution of $47.5 million from founder Justin Mateen [2] - Other notable participants in the funding round included Mike Novogratz from Galaxy Digital, Stanley Druckenmiller's Duquesne Family Office, DCVC, and Martin Varsavsky [2] - The capital will be utilized to strengthen reserves for state regulatory compliance and maintain long-term financial strength ratings [2] Operational Enhancements - Investment areas include expanding member engagement strategies, enhancing operational capabilities through AI, network development, and modernized alternative payment methods [3] - Curative's health insurance plan eliminates out-of-pocket expenses for members who complete an annual preventative health appointment known as the Baseline Visit [3] Performance Metrics - Curative has reported a 20% increase in primary care participation, a 30% reduction in hospital admissions, and up to 40% lower medication costs within the first year of plan adoption [4] - Since its inception less than three years ago, Curative serves over 1,200 employer clients and more than 165,000 members [4] - The company's mission focuses on eliminating financial barriers and guiding members throughout their health journey [4] Strategic Vision - Curative emphasizes the validation of its disruptive model, which leverages AI-driven technology and human support to improve health outcomes [5] - The company aims to modernize the member experience, expand into new markets, and scale its impact within the healthcare industry [5]