Angle Health Reaches $2.7 Billion Valuation in $200 Million Series C and Secondary Tender

Angle Health, an insurtech platform that provides health coverage plans for small employers, announced on Friday that it has raised $200 million in Series C funding alongside a $400 million tender offer, valuing the company at $2.7 billion.

The financing was led by Vitruvian Partners, with participation from Town Hall Ventures, Blumberg Capital, Portage Ventures, PruVen Capital, and Y Combinator. The company told TechCrunch Startups (https://techcrunch.com/2026/09/18/y-combinator-insurance-tech-alum-angle-health-hits-2-7b-valuation/) that the tender offer will enable employees to sell a portion of their equity, and it expects the overall transaction to close later this month.

Founded in 2019 and a graduate of Y Combinator's Winter 2020 cohort, Angle Health helps small businesses secure and administer level-funded health plans. The hybrid coverage model sits between fully insured plans—where carriers assume all risk at higher, fixed premiums—and self-funded plans, where employers pay claims directly and shoulder unpredictable liability. Under a level-funded plan, employers make predictable monthly payments, receive insurance protection against catastrophic claims, and can capture refunds if total expenses remain low.

Angle Health operates an artificial intelligence platform that assists small employers with choosing and managing plans, including integrations with payroll and human resources software. The startup said it is profitable and currently serves more than 5,000 businesses.