Clover Health
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Investors
Founders
About
Clover Health is a health insurance technology company founded in 2014 by Vivek Garipalli and Kris Gale 1. The company offers Medicare Advantage plans and uses its proprietary data platform, the Clover Assistant, to analyze patient data and improve health outcomes 2. Garipalli previously founded CarePoint Health, a healthcare system in New Jersey, and Gale was formerly VP of Engineering at Yammer 1. The company went public on January 8, 2021, via a SPAC merger with Social Capital Hedosophia Holdings Corp. III, led by Chamath Palihapitiya, at a $3.7 billion enterprise value, trading on Nasdaq under ticker CLOV 3. In 2025, the company reported $1.9 billion in revenue with 113,803 Medicare Advantage members 7.
Funding History
| Round | Date | Amount | Lead Investor(s) | Key Co-Investors |
|---|---|---|---|---|
| Seed | Jul 2014 | Undisclosed | — | — |
| Series A | Sep 2015 | $100M | First Round Capital | Athyrium Capital Management |
| Series B | Dec 2015 | $35M | Sequoia Capital | First Round Capital, Athyrium Capital Management |
| Series C | May 2016 | $160M | Greenoaks Capital | First Round Capital, Sequoia Capital, Spark Capital, FLOODGATE, Nexus Ventures, Refactor Capital, AME Cloud Ventures, Casdin Capital, Arena Ventures, Wildcat Ventures |
| Series D | May 2017 | $130M | Greenoaks Capital | GV, Sequoia Capital, Refactor Capital |
| Series E | Jan 2019 | $500M | Greenoaks Capital | Bessemer Venture Partners, Bracket Capital |
| SPAC (IPO) | Jan 2021 | $3.7B valuation | Social Capital Hedosophia III (Chamath Palihapitiya) | — |
What Investors Say
Chamath Palihapitiya, Founder and CEO of Social Capital Hedosophia, on the SPAC closing: “I am thrilled to announce the closing of this transaction and bring Clover Health to the public markets. Vivek, Andrew and their team have created a next-generation Medicare Advantage company that combines wide access to healthcare with a technology-enabled operating model.” 3
Benny Peretz, Partner at Greenoaks Capital, on the Series C: “By combining a data-driven approach to improving health outcomes and a genuine desire to delight its members, Clover offers a Medicare Advantage plan that creates a truly positive impact on member health, while delivering a superior member experience and value that continues to get better and better at a rapid pace.” 5
Jeff Lo, Founder and General Partner at Arena Ventures, on the Series C: “Clover is constructing a moat that will set it up to become one of the most important healthcare companies of our generation.” 5
What Founders Say
Vivek Garipalli, CEO & Co-Founder, on the SPAC closing: “Today marks an important milestone in Clover Health’s mission to improve every life by enabling improved clinical decision making and achieving affordability in healthcare.” 3
Vivek Garipalli on the Series B: “This new capital provides us with the flexibility to expand strategically into new markets, as well as continue to build out our technology stack.” 4
Kris Gale, CTO & Co-Founder, on the Series C: “As a result of our real-time data feedback loops about members, we can partner with providers to have the highest impact on their health outcomes and make certain that our most at-risk members are receiving the best care possible.” 5
Sources
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TechCrunch, “Clover Health, A Data-Driven Health Insurance Startup, Raises $100M,” September 17, 2015. https://techcrunch.com/2015/09/17/clover-health-a-data-driven-health-insurance-startup-raises-100m/↩↩↩
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Clay, “How Much Did Clover Health Raise? Funding & Key Investors,” accessed March 2026. https://www.clay.com/dossier/clover-health-funding↩↩
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Clover Health Investor Relations, “Clover Health and Social Capital Hedosophia Holdings Corp. III Announce Closing of Business Combination,” January 2021. https://investors.cloverhealth.com/news-releases/news-release-details/clover-health-and-social-capital-hedosophia-holdings-corp-iii↩↩↩↩
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GlobeNewsWire, “Clover Health Partners With Sequoia and Raises $35 Million,” December 16, 2015. https://www.globenewswire.com/news-release/2015/12/16/1422538/0/en/Clover-Health-Partners-With-Sequoia-and-Raises-35-Million.html↩↩
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GlobeNewsWire, “Clover Health Raises $160 Million Series C Funding Round,” May 23, 2016. https://www.globenewswire.com/en/news-release/2016/05/23/1422539/0/en/Clover-Health-Raises-160-Million-Series-C-Funding-Round.html↩↩↩↩
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TechCrunch, “Alphabet-backed Medicare Advantage startup Clover Health raises $500M,” January 29, 2019. https://techcrunch.com/2019/01/29/alphabet-backed-medicare-advantage-startup-clover-health-raises-500m/↩
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StockTitan, “Clover Health Reports Fourth Quarter & Full Year 2025 Results; Provides Full Year 2026 Guidance,” February 2026. https://www.stocktitan.net/news/CLOV/clover-health-reports-fourth-quarter-full-year-2025-results-provides-ogyefb6kkxje.html↩↩