Chapter, a startup specializing in Medicare advisory services and co-founded by former Republican presidential candidate Vivek Ramaswamy, has successfully completed a $75 million funding round. This round, led by the private equity and venture firm Stripes, has elevated the company’s valuation to $1.5 billion.
The company offers assistance to seniors in selecting Medicare health plans by considering factors such as doctors, hospitals, and prescription drug coverage. Unlike many Medicare insurance brokers, Chapter asserts that it focuses on the needs of clients rather than the profits of insurers.
Naraya, the venture capital firm established by Vice President J.D. Vance, led Chapter’s Series A funding round in 2020. In 2021, investor Peter Thiel took over Vance’s board seat when Vance stepped down to run for the Senate.
Although Thiel has resigned from Chapter’s board, the vacancy has been filled by Democrat Donna Shalala, who previously served as Secretary of Health and Human Services under the Clinton administration and later as a U.S. Congresswoman. Shalala has mentioned to Bloomberg that Ramaswamy’s role, along with investments from Republicans Vance and Thiel, are not a concern, stating, “I don’t think of the company as political.”
