Chapter, a Medicare startup with links to Vance, Thiel and Ramaswamy, just raised a round at $1.5B valuation

Medicare Advisory Firm Chapter Secures $75 Million Investment

Chapter, a Medicare advisory startup co-founded by Vivek Ramaswamy, has successfully completed a $75 million funding round. The investment, valuing the company at $1.5 billion, was spearheaded by private equity and venture capital firm Stripes.

Simplifying Medicare Plan Selection for Seniors

The startup aims to assist senior citizens in navigating the complexities of Medicare health plan selection. Chapter’s platform analyzes various factors, including physician networks, hospital affiliations, and prescription drug coverage options, to guide users. The company distinguishes itself from traditional Medicare insurance brokers by asserting its commitment to prioritizing customer requirements over insurer profits.

Early Investments and Leadership Transition

Naraya, the venture capital firm established by Vice President JD Vance, led Chapter’s initial Series A funding round in 2020. Subsequently, investor Peter Thiel assumed Vance’s board seat when Vance departed in 2021 to pursue a Senate campaign. While Mr. Thiel has since resigned from the board of directors, former Health and Human Services Secretary Donna Shalala has been appointed to fill the vacant position.

Board Member Emphasizes Non-Political Stance

Ms. Shalala, a Democrat who served during the Clinton administration and later as a U.S. Congresswoman, addressed concerns regarding Mr. Ramaswamy’s involvement and investments from Republicans such as Mr. Vance and Mr. Thiel. In a statement to Bloomberg, Ms. Shalala affirmed that these associations were not problematic. “I don’t consider the company to be political,” she stated.

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