San Francisco-based Stride Health, which looks to bring health benefits to independent workers, secured $47 million in series C funding to expand its reach, the company said in an Oct. 26 announcement.
Here are five things to know:
1. Founded in 2014, Stride Health is a platform that primarily targets gig workers, who include contractors, part-time employees and other workers who don't get health coverage through their employers, according to its website. Since its inception, the platform has reached over 2.7 million people at companies like Uber, DoorDash, Amazon, Etsy and more.
2. The company is a healthcare.gov partner, allowing it to help workers compare plans and navigate the federal insurance marketplace.
3. This year, the company said it has increased its 2020 enrollment numbers by 3.5 times.
4. The $47 million in newfound funding will support platform development, member growth and partnerships, the company said. Funding has come from figures in the payer world, including Bruce Perkins, former Humana president of healthcare services; Chet Burrell, former CareFirst CEO; and Kevin Nazemi, co-founder of Oscar Health, among others.
5. "Getting your own benefits can be stressful, confusing and expensive for independent workers," said Noah Lang, co-founder and CEO of Stride Health. "An estimated 90 million Americans will work independently by 2028, and they all deserve to feel financially secure. That's why we've built a modern, flexible benefits system for independent workers — because benefits shouldn't be reserved for full-time traditional employees."