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The Pitch Deck Well being-Insurer Attitude Well being Used to Lift $58 Million

  • Attitude Well being desires to make use of tech to develop into medical insurance the place different upstarts have failed.
  • Corporations like Shiny Well being and Clover Well being are slowing their progress as their shares tumble.
  • Attitude Well being raised $58 million to disrupt employer-sponsored fitness advantages the use of this pitch deck.

Well being-insurance startups have had a coarse pass of it in recent years.

Corporations like Oscar Well being, Clover Well being, and Shiny Well being raked in investor money at the promise that they may develop into fitness plans with tech, and every went public in 2021 at a lofty valuation.

However their makes an attempt at transformation have fallen brief as they have tumbled within the public markets and their losses have deepened, forcing them to sluggish their progress to seek out techniques to wreck even and keep afloat.

Digging into medical insurance comes with a lot of demanding situations for a startup, since fitness insurers normally require a number of capital to serve as and new firms run up towards large incumbents like UnitedHealthcare and Elevance Well being.

Attitude Well being, on the other hand, thinks it has what it takes to prevail the place others failed — and the San Francisco-based startup simply landed a bit of capital to end up it.

In January, Attitude Well being stated it had raised $58 million in Sequence A investment led through the fintech challenge company Portage. The spherical integrated investments from PruVen Capital, Wing Challenge Capital, SixThirty Ventures, Mighty Capital, Wormhole Capital, Mindset Ventures, Aloft VC, Blumberg Capital, Correlation Ventures, TSVC, Y Combinator, and Waseem Daher, the founding father of Pilot.

Taking over employer-funded health-insurance plans

Ty Wang, Attitude Well being’s CEO and cofounder, stated there are a couple of key issues it is doing in a different way from its predecessors.

For something, the 29-year-old stated, the corporate is considering slower, extra sustainable progress, which is especially vital to buyers as digital-health startups face the results in their growth-at-all-costs methods in a marketplace downturn.

“We are taking a look to verify we’ve got all of our processes, operations, and such things as scientific control and care navigation in reality locked down prior to we scale to loads of hundreds or hundreds of thousands of contributors, so we do not finally end up in equivalent scenarios to a few of these now public startup fitness plans,” Wang stated.

Attitude Well being could also be considering a special a part of the health-insurance marketplace. Whilst one of the upstarts have labored with individuals who get their fitness plans via Medicare Merit or the Inexpensive Care Act market, Attitude Well being sells its plans to different firms, particularly different startups with as much as 500 workers. 

“It is a very other possibility profile,” Wang stated, including that the corporate had accomplished “just about no direct advertising.” As a substitute, insurance coverage agents and different companies paintings for a price to create contracts between Attitude Well being and employers. Wang stated the prices related to getting the ones contracts are a lot not up to they might be if Attitude Well being had been to marketplace itself without delay to shoppers.

The corporate’s January Sequence A spherical integrated in the past unannounced investment in addition to a Sequence A-1 extension spherical, Wang instructed Insider. He added that the extension spherical doubled the valuation Attitude Well being notched from its preliminary Sequence A elevate and taken the startup’s overall investment to $62 million.

Attitude Well being supplied Insider with the pitch deck it used to lift $58 million in Sequence A investment from Portage and different buyers. The startup got rid of information about its financials — together with projections — and club figures prior to sharing the deck.

Here is the pitch deck Attitude Well being used to land a $58 million Sequence A.