NEW YORK--(BUSINESS WIRE)--Chapter, the leading technology-driven Medicare Advisor, announced today that it has secured a $42 million Series B funding round. The investment was led by Addition with participation from Narya Capital, Susa Ventures, Maverick Ventures, XYZ Venture Capital, Core InnovationCapital, and Health2047 Capital Partners.
This financing builds on Chapter’s Series A announced in September, with Peter Thiel joining the Company’s Board of Directors. Chapter has raised over $61 million in total financing to date.
This year has seen rapid growth for the company, including opening a second office in Phoenix to expand its advising capacity. Medicare advisors at Chapter are also now licensed in all 50 states.
"Before Chapter, those navigating Medicare faced two bad options: work with a traditional broker, or try to navigate the maze alone. Traditional brokers recommend only plans that pay them commissions and are not required to do what’s best for their clients. And the resources available to individual consumers provide incomplete and often incorrect recommendations. Even Medicare.gov fails to take doctors into account and provides suboptimal guidance,” said Chapter’s CEO, Cobi Blumenfeld-Gantz. “We’re thrilled to accelerate our ability to serve even more Americans with the support of this funding."
Chapter plans to use the new capital to continue building the best user experience for retirees navigating Medicare, further support its members, and hire new teammates. The company is looking to fill 70 new positions in 2022. Individuals interested in career opportunities with Chapter are encouraged to visit Chapter's career page to learn more.
“Chapter is committed to ensuring that those navigating Medicare choose the best options by taking a consumer-first approach and emphasizing greater choice and clarity,” said Jason Schneider of Addition. “We look forward to supporting the Chapter team as they continue to minimize the complexities of Medicare and provide personalized experiences for older Americans seeking the right coverage.”
Palantir and Chapter have partnered to strengthen the Medicare Advisor’s proprietary technology platform. Chapter’s advisors use the platform to search every Medicare plan nationwide, including Medicare Advantage, Medicare Supplements, and standalone Part D prescription plans.
Unlike most Medicare advisors, the compensation earned by Chapter’s licensed advisors does not vary based on specific plan recommendations or selections. As a result of its best-in-class data model, Chapter offers an ethical, informative, and consumer-first experience for older adults seeking to maximize their Medicare coverage. The company is a National Council on Aging (NCOA) partner, meeting NCOA’s Standards of Excellence for Medicare.
Chapter was founded by Cobi Blumenfeld-Gantz, Corey Metzman, and Vivek Ramaswamy.
About Chapter: Chapter is a Medicare Advisor with a simple commitment: it’s impossible to find a better Medicare recommendation or better support anywhere else. Chapter’s team and technology search every Medicare option nationwide at an unprecedented level of detail.
Chapter’s licensed advisors provide personalized, end-to-end guidance to Americans navigating Medicare. The advisory team earns identical compensation irrespective of the selected plan or carrier, ensuring that each Chapter member receives recommendations tailored solely for their needs. Additionally, Chapter’s platform supports older Americans in deciding when and how to sign up for Medicare and whether they can improve existing coverage to get better benefits for less. Chapter also hosts hundreds of educational events every year and partners with employers, financial advisors, benefits professionals, non-profits, religious institutions, and community leaders.
For more information, visit www.askchapter.org.