Stride

Stride

Digital platform for independent health insurance

About Stride

Simplify's Rating
Why Stride is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Fintech

Healthcare

Company Size

51-200

Company Stage

Series C

Total Funding

$85.9M

Headquarters

San Francisco, California

Founded

2014

Overview

Stride Health is a digital platform focused on supporting independent workers like freelancers and entrepreneurs in the health insurance market. It offers personalized insurance plan recommendations tailored to individual needs and healthcare preferences, ensuring clients receive the same plans at the same prices available on the marketplace. In addition to health insurance, Stride Health provides access to dental, vision, and life insurance plans specifically designed for independent workers. The platform also includes financial tools for tax preparation, such as mileage and expense tracking, income tracking, and tax support. Stride Health earns commissions on the insurance plans it sells while offering unbiased advice to help clients make informed decisions. The company aims to prioritize the needs of independent workers, providing tools and support to help them thrive and achieve their personal goals.

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Simplify's Take

What believers are saying

  • Expansion into Utah and Pennsylvania shows growing demand for portable benefits programs.
  • Partnerships with DoorDash and Shipt increase Stride's market reach in the gig economy.
  • Recognition as a top remote workplace attracts top talent, supporting growth and innovation.

What critics are saying

  • Increased competition in digital health insurance could erode Stride's market share.
  • Dependence on partners like DoorDash poses risks if they switch to other providers.
  • Regulatory changes in healthcare could impact Stride's ability to offer competitive plans.

What makes Stride unique

  • Stride offers personalized insurance plans for independent workers, a unique market focus.
  • The company provides a comprehensive suite of benefits, including dental, vision, and life insurance.
  • Stride's platform includes tax support tools, enhancing its value proposition for freelancers.

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Funding

Total Funding

$85.9M

Below

Industry Average

Funded Over

4 Rounds

Notable Investors:
Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Meet Average

Industry standards

$50M
$47M
Stride
$50M
Medium
$62M
SeatGeek
$100M
Oura

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Stock Options

Growth & Insights and Company News

Headcount

6 month growth

3%

1 year growth

-1%

2 year growth

4%
Coverage
May 29th, 2024
Stride Partners With Roadie

Stride Health, <i class="fa fa-info-circle company-popover" data-content="h3Stride Health/h3. div. table

PR Newswire
Apr 10th, 2024
Stride Launches Utah'S First Independent Worker Portable Benefits Contributions Program

The launch follows on the heels of the state's passage of new Portable Benefit Plan legislation (SB-233)SAN FRANCISCO, April 10, 2024 /PRNewswire/ -- Today Stride , the pioneer in portable benefits technology, announced the launch of its Stride Contributions program in Utah. This follows the state's passage of new Portable Benefit Plan legislation (SB-233) that created opportunities for companies to extend more benefits to 1099 workers.In conjunction with the announcement, Utah State Senator John D. Johnson issued the following statement: "Utah S.B. 233 "Portable Benefit Plan,' a bill I ran in 2023, establishes a portable program that empowers Utah's independent workforce with the flexibility and freedom to pursue their career goals while still enjoying a key benefit of traditional employment. I am excited that Stride is announcing a framework to operationalize this innovative state law.""From gig employees to traditional entrepreneurs, Utah workers and companies will have newfound flexibility with this portable benefits tool," said Utah Governor Spencer Cox. "I'm pleased that Utah will be the first state in the nation to implement this inventive legislative approach to employee benefits."On the heels of launching in Pennsylvania last week , Stride also announced today that it has signed the first Utah workforce client to use the Stride's Contributions program, set to launch in Utah this month.The first-of-its-kind program enables companies with independent workers to make contributions into an individual's portable benefits savings account, which individuals can then apply to health or other insurance coverage as well as financial benefits like emergency savings, time-off, sick leave, or long-term savings

Coverage
Apr 5th, 2024
Stride Launches Independent Worker Contributions Program

Allstate-backed. Stride Health <i class="fa fa-info-circle company-popover" data-content="h3Stride Health/h3. div

Yahoo Finance
Apr 3rd, 2024
Stride Launches First-Ever Independent Worker Contributions Program For Portable Benefits

DoorDash is the first to pilot Portable Benefits Savings Program For Dashers in PennsylvaniaSAN FRANCISCO, April 3, 2024 /PRNewswire/ -- Today Stride , the pioneer in portable benefits technology, announced the launch of its Stride Contributions program alongside the program's first client DoorDash. The first-of-its-kind program enables companies with independent workers to make contributions into an individual's portable benefits savings account, which the worker can then apply to health or other insurance coverage as well as financial benefits like emergency savings, time-off, sick leave, or long-term savings. Stride's platform now solves for the top three benefit needs of independent workers: health coverage, tax support and savings — with the added support of contributions from companies."DoorDash's new pilot program for Pennsylvania Dashers is a positive step forward, as it can give Pennsylvania workers greater access to benefits," said Governor Josh Shapiro of Pennsylvania. "My Administration looks forward to seeing the results of this program, and we will continue working to protect and expand the rights of all workers in Pennsylvania."The new Stride Contributions program is designed to help companies provide tailored benefits programs to independent contractors in a variety of regulatory environments, while putting the power in the hands of individual workers to allocate those funds towards their own unique set of benefits. DoorDash is the first company to use Stride Contributions, and the program is built to serve the needs of workers who also work on multiple platforms.Stride also introduced Stride Save*, available exclusively through workforce partners, expanding Stride's benefits suite to now include savings-related benefits, in addition to supporting this burgeoning workforce's most complex insurance and tax needs. Stride Save acts as an individual benefits account that any company or individual can contribute to, offering personalized financial guidance to help workers allocate those contributions across savings and insurance benefits.Story continues"Along with our long-term partner DoorDash and Pennsylvania Governor Shapiro, we've delivered a breakthrough moment for independent workers," said Noah Lang, CEO and co-founder of Stride

Lord & Kobrin
Mar 30th, 2024
Does Instacart Provide Health Insurance

However, Instacart partners with Stride Health to help shoppers find and enroll in health insurance plans.

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