Stride Health, a digital health business that identified a gap in the insurance benefits market for the self-employed and part time workforce, has closed a Series B round to grow the benefits network for these employees. F-Prime Capital led the round with existing investors Venrock and New Enterprise Associates also participating alongside new investor Portag3 Ventures. The new capital will support the expansion of Stride Health’s benefits offerings.The company also plans to increase staff from 50 to increase the reach of the business to help more self-employed workers by boosting its marketing, product development, design and engineering teams.
With Republican efforts to “repeal and replace” the Affordable Care Act stalled, tentative bipartisan initiatives are in the works to shore up the fragile individual insurance market that serves roughly 17 million Americans. The Senate Health, Education, Labor and Pensions Committee launches hearings the week Congress returns in September on “stabilizing premiums in the individual insurance market” that will feature state governors and insurance commissioners. A bipartisan group in the House is also working to come up with compromise proposals.