Chapter, a Medicare advisory startup co-founded by former Republican presidential candidate Vivek Ramaswamy, has successfully raised $75 million in funding at a $1.5 billion valuation. The investment round was led by private equity and venture firm Stripes.
The company helps seniors choose Medicare health plans by analyzing coverage options for doctors, hospitals, and prescription drugs. Chapter differentiates itself by prioritizing the needs of clients over the profits of insurance companies, a unique approach in the Medicare advisory space.
In 2020, Chapter’s Series A round was led by Naraya, a venture capital firm founded by Vice President J.D. Vance. Peter Thiel, who also invested in the company, replaced Vance’s board seat after Vance resigned to run for Senate in 2021. However, Thiel has since stepped down from the board, and former U.S. Secretary of Health and Human Services, Democrat Donna Shalala, has filled the vacancy.
Shalala responded to concerns regarding the political affiliations of the company’s investors, stating that Ramaswamy’s political role and the investments from Vance and Thiel were not an issue. “I don’t think of the company as political,” Shalala told Bloomberg.
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