Curio Health Insurance Company has secured more than $150m in Series B funding, bringing its valuation to $1.25 billion.
The capital will help the company push its 0-out-of-pocket health plan with an AI-powered member experience.
The proceeds will also support Curato’s national expansion of its presence in Texas, Florida and Georgia, US, with a near-term focus on the Mid-Atlantic states.
TED Chairman Chris Anderson’s Ulta Vision Fund led the Series B round.
JamFund founder Justin Mitten contributed $47.5M, personally and through JamFund.
Other participants in the round included Mike Novogratz of Galaxy Digital, Stanley Doctman Miller’s Doctson Family Office, DCVC and Martin Versovsky.
Capital will be used to bolster reserves required for state regulatory compliance and maintain long-term financial strength ratings.
Other areas of investment include enhancing member engagement strategies, enhancing operational and service capabilities through AI, network development and innovative alternative payment methods.
The company said its health insurance plan does not incur out-of-pocket costs for members if they complete an annual preventive health appointment known as a baseline visit.
Creto’s data indicated results such as a 20% increase in primary care attendance, a 30% reduction in hospital admissions and 40% lower drug costs within the first year after groups adopted the plan.
Since its launch less than three years ago, Curito now serves more than 1,200 employer clients and more than 165,000 members.
Curito co-founder and CEO Fred Turner said: “Curito’s mission is to break down financial barriers and guide our members through every step of their health journey.
“This funding validates the disruptive model we’ve built, which leverages AI-powered technology, real human support and connected incentives to improve outcomes. We’re accelerating the modernization of the member experience, expanding into new markets and scaling the impact we need.”
“Curative Health Insurance Raises Over $150m in Series B Funding” was originally created and published by Life Insurance Internationala Global Data owned brand.
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