The Minnesota City-based individual health insurance marketplace is led by industry veterans Bob Sheehy (former CEO of UnitedHealthcare), Kyle Rolfing (co-founder and former CEO of Definity Health and RedBrich Health) and Tom Valdivia (former executive at Definity).
The round was led by Bessemer Venture Partners and New Enterprise Associates, with participation by Flare Capital Partners.
Bright Health plans to enter its first market and enroll members for the 2017 plan year. The company’s individual health insurance plans will be offered directly to consumers, via broker partners, and through public and private health insurance exchanges. Additional market expansion, care provider partnerships and Medicare Advantage Plans are planned for 2018 and beyond.