Chapter, a Medicare advisory startup co-founded by former Republican presidential candidate Vivek Ramaswamy, recently completed a funding round, securing $75 million at a valuation of $1.5 billion. This funding round was led by private equity and venture firm Stripes.
The company offers services to assist seniors in selecting Medicare health plans by analyzing options related to doctors, hospitals, and prescription drug coverage. Distinguishing itself from other Medicare insurance brokers, Chapter emphasizes its commitment to prioritizing client needs over insurer profits.
Naraya, the venture capital firm founded by Vice President J.D. Vance, led Chapter’s Series A funding round in 2020. Peter Thiel, also an investor in the company, took over Vance’s board seat following Vance’s resignation to pursue a Senate run in 2021.
After Thiel’s subsequent resignation from Chapter’s board, Democrat Donna Shalala, who served as Secretary of Health and Human Services under the Clinton administration and was later a U.S. Congresswoman, was appointed to fill the vacancy. Shalala mentioned to Bloomberg that Ramaswamy’s involvement and investments from Republicans Vance and Thiel do not pose any issues, stating, “I don’t think of the company as political.”
