What You Need to Know
- The New York-based firm has raised a total of $61 million since it came to life.
- The biggest source of capital was Addition.
- The company hopes to fill 70 new positions this year.
Chapter — a New York-based Medicare plan broker that’s emphasizing its compensation-neutral approach to recommending plans to consumers — announced Tuesday that it has raised $42 million in capital from investors.
Lee Fixel’s Addition put in the most cash. Fixel is a Tiger Global Management alumnus.
The investor group also included Narya Capital, Susa Ventures, Maverick Ventures, XYZ Venture Capital, Core Innovation Capital and Health2047 Capital Partners.
Chapter has raised a total of $61 million since it came to life in March 2020.
Cobi Blumenfeld-Gantz, Chapter’s CEO, is a former Palantir Technologies business development executive. He started Chapter with Corey Metzman and Vivek Ramaswamy.
In a comment included in the funding announcement, Blumenfeld-Gantz said that Chapter’s system helps the company’s advisors find complete information, such as provider directories, for every Medicare Advantage plan, Medicare supplement insurance policy and stand-alone Medicare Part D prescription drug plans, sold in the country.