Why We Invested in Angle

By: Victoria Cheng, Partner at Pruven Capital & Hannah McQuaid, Investor at Pruven Capital

We recently announced an investment in Angle Health’s Series A. With a fresh capital injection of $58MM, we are excited to support Angle in building the first AI-enabled, full-stack health insurance company focused on delivering a superior personalized digital member experience and better options for companies of all sizes. We wanted to share a few insights from our deal memo highlighting why we invested in Angle.

Transformation of Healthcare Enabled by Technology

At the intersection of technology and healthcare, Angle Health is uniquely positioned to deliver transformative capabilities for employers and a member-centric experience in healthcare. Even though healthcare is one of the largest industries in the United States, lack of innovation in a technology-enabled world has led to poor member experiences, operational inefficiencies, wasteful spending, and less than desirable outcomes. In addition, healthcare continues to be one of the most complex systems to navigate and understand, which creates member dissatisfaction and poor care coordination.

As data in healthcare continues to expand in both scope and accessibility, there are significant opportunities to establish a higher continuum of care, leading to a more transparent and personalized healthcare experience. Carriers have yet to fully embrace mobile experiences, modern data architectures, or best-in-class consumer technology designs in their products and services. By creating an end-to-end digital healthcare experience, members can more easily and frequently engage with their healthcare when they need it most. In this digital-native framework, members can proactively monitor and manage their wellbeing in real-time through capabilities including self-service, chat interfaces, mobile care navigation, scheduling and referrals to digital health providers. By using technology to manage care more proactively, the outcomes and benefits are many, including lower healthcare costs, improved patient outcomes, better member/physician experiences and greater transparency.

Angle Health’s Solution

Angle Health is a digital-first and AI-driven full-stack health insurance carrier that offers fully-insured and self-insured health insurance plans to employers. Ty, Anirban, and Andy’s ability to reimagine the way people access healthcare is unparalleled. We were inspired by their hyper focus on bringing transparency, affordability, and ease of use to a system that is currently opaque, costly and difficult to navigate. So what’s different?

1. Single Data Architecture: At its core, Angle has created an internal operating system that powers all operational workflows including quoting, customer support, administrative processes, care navigation and financial operations on the same data architecture. This enables the company to leverage automation and machine learning in a way that most traditional carriers have not yet fully embraced.
2. More Flexible Options for Employers of All Sizes: Employers have been restricted to limited and rigid health plan options in the past. Angle has made it easy for employers to create customizable benefit plans to better meet the healthcare needs of their employees.
3. Exceptional Mobile Experience: Angle’s core solution is a care platform that guides members through their care journey by helping them identify providers, track prescriptions, book appointments, pay providers and chat with their physicians.
4. Free Integrated Prevention Platform: Angle’s vision for preventive healthcare includes proactively matching members to digital health and wellness services from behavioral health to chronic care management. In doing so, Angle reduces the HR burden of selecting digital health vendors by tightly integrating these solutions into existing member health plans while also measuring the outcomes of the provided solutions.
5. Navigation Tools for Decision Making: Lastly, Angle is bringing together a variety of tools to enable members to better navigate healthcare in terms of both cost and quality. Tools like pricing transparency empower members to access the care they want and to understand the cost of that care upfront.

By building a health insurance company from the ground up and using technology at its core infrastructure, Angle has created a unique platform that unifies all the siloed touchpoints in healthcare and offers a concierge experience for its members.

We hope this helps illuminate why Pruven chose to back Ty Wang and Anirban Gangopadhyay on their mission to revolutionize healthcare.