A Medicare navigation company with ties to a pair of prominent conservatives reached unicorn status with a funding round announced Wednesday.
Chapter announced it raised $75 million in a Series D funding round. The round valued the company at approximately $1.5 billion, according to a source with knowledge of the situation.
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Former GOP presidential candidate Vivek Ramaswamy co-founded Chapter with current CEO Cobi Blumenfeld-Gantz and Corey Metzman. A venture capital firm co-founded by Vice President JD Vance was among the early investors and participated in the latest round.
Ramaswamy no longer has a role in the company’s operations, Blumenfeld-Gantz said. He declined to say whether Ramaswamy remained an investor in Chapter.
“We're a non-political company,” Blumenfeld-Gantz said. “Medicare is very much a bipartisan issue.”
The company works with hospitals, health systems and financial services companies, among others. Chapter pairs a consumer referred from its partners with a benefits advisor who can recommend Medicare plan options, including Medicare Advantage. Chapter gets paid by insurers.
Venture capital firm Stripes led the round. Narya Capital, the firm co-founded by Vance, joined investment firms Addition, XYZ Venture Capital and Susa Ventures for the round.
Chapter, founded in 2020, announced its Series C funding round in May 2024. The latest round brought its total raised to $186 million.
