Total amount raised
$85.9 Millions
Latest funding date
Location
Stride Health has successfully raised funding through multiple rounds, with notable investors such as F-Prime Capital and Jonathan Bush backing the company. The platform offers a comprehensive suite of portable benefits, including health, vision, dental, and life insurance, tailored for self-employed, hourly, and small business workers.
Keep reading to explore the intricacies of Stride Health's fundraising journey and the investors supporting this innovative platform.
What Is Stride Health?
Stride Health, founded in 2013 by Matt Butner and Noah Lang, is headquartered in San Francisco, California. The company operates within multiple industries, including health insurance, employee benefits, and financial services.
With an employee count ranging from 101 to 250, Stride Health focuses on providing portable benefits tailored for self-employed, hourly, and small business workers. Their offerings include health, vision, dental, and life insurance, along with tax and financial tools designed to maximize take-home pay and minimize taxes.
How Much Funding Has Stride Health Raised?
- Seed Round
- Amount Raised: $2.4M
- Date: January 2015
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of Stride Health's platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2014
- Lead Investors: Eight Roads Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure early-stage funding for product development and market entry.
- Series A
- Amount Raised: $13M
- Date: May 2015
- Lead Investors: Venrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform's capabilities.
- Series B
- Amount Raised: $23.5M
- Date: August 2017
- Lead Investors: F-Prime Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and increase market penetration.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Moderne Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and development initiatives.
- Series C
- Amount Raised: $47M
- Date: October 2021
- Lead Investors: King River Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Stride's portable benefits platform, accelerate membership growth, and invest in new partnerships and channels.
Total Amount Raised: $85.9M
Current Valuation: Not publicly disclosed
Key Investors
- King River Capital
- Details: King River Capital is a venture capital firm that led Stride Health's Series C funding round. The firm is known for investing in high-growth software businesses.
- Investment Focus Areas: High-growth software businesses, post-revenue companies, large markets.
- Notable Investments: Discord, Lark Health, Immutable.
- Moderne Ventures
- Details: Moderne Ventures is a venture capital firm that participated in Stride Health's Series C funding round. The firm focuses on technology companies in various sectors.
- Investment Focus Areas: Real estate, finance, insurance, home services.
- Notable Investments: Not specified.
- F-Prime Capital
- Details: F-Prime Capital is a venture capital firm that has invested in Stride Health. The firm is associated with Fidelity Investments and focuses on healthcare and technology.
- Investment Focus Areas: Healthcare, technology.
- Notable Investments: Not specified.
- Venrock
- Details: Venrock is a venture capital firm that has invested in Stride Health. The firm has a long history of investing in technology and healthcare companies.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Not specified.
- New Enterprise Associates (NEA)
- Details: NEA is a global venture capital firm that has invested in Stride Health. The firm focuses on technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Not specified.
What's Next for Stride Health?
Stride Health stands at the cusp of significant growth opportunities. With a membership base of 2.7 million and health insurance enrollments increasing 3.5 times over the previous year, the company is poised to expand its portable benefits platform. Strategic partnerships with industry giants like Uber, Amazon, and DoorDash further amplify its reach, making it a key player in the gig economy.
Future fundraising efforts are likely to be bolstered by the growing demand for portable benefits among independent workers. The involvement of major investors such as Mastercard and Allstate signals strong potential for additional funding rounds. However, navigating the complex regulatory landscape and ensuring affordability for a diverse user base remain critical challenges.
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