Sidecar Health

Sidecar Health

Affordable health insurance with price transparency

About Sidecar Health

Simplify's Rating
Why Sidecar Health is rated
C+
Rated C on Competitive Edge
Rated A on Growth Potential
Rated D+ on Rating Differentiation

Industries

Financial Services

Healthcare

Company Size

201-500

Company Stage

Series D

Total Funding

$319.1M

Headquarters

El Segundo, California

Founded

2018

Overview

Sidecar Health provides health insurance plans that focus on affordability and transparency, including options compliant with the Affordable Care Act (ACA). The company allows members to see average cash prices for medical services upfront, helping them make informed decisions and avoid unexpected costs. Revenue is generated through member premiums, which cover medical expenses while also allowing for lower rates compared to traditional insurers. Sidecar Health's goal is to empower members to take control of their healthcare expenses with straightforward and cost-effective insurance options.

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Funded Recently
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Simplify's Take

What believers are saying

  • Recent $165M Series D funding supports expansion and innovation in health insurance.
  • Partnership with Mark Cuban Cost Plus Drug Company lowers prescription drug costs for members.
  • ACA-compliant product line expansion increases market reach and consumer options.

What critics are saying

  • Increased competition from similar insurtech companies may erode market share.
  • Regulatory scrutiny on cash pay models could pose compliance challenges.
  • Economic downturns might reduce consumer spending on health insurance premiums.

What makes Sidecar Health unique

  • Sidecar Health offers transparent pricing, empowering members with upfront healthcare cost information.
  • The company provides customizable plans, aligning with individual coverage needs and budgets.
  • Partnerships with institutions like Ohio State University enhance their fixed-price care model.

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Funding

Total Funding

$319.1M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:
Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Above Average

Industry standards

$77M
$70M
Twilio
$80M
Handshake
$100M
Affirm
$165M
Sidecar Health

Benefits

Health Insurance

Dental Insurance

Vision Insurance

401(k) Retirement Plan

Paid Vacation

Paid Holidays

Stock Options

Company Equity

Growth & Insights and Company News

Headcount

6 month growth

↑ 1%

1 year growth

↓ -1%

2 year growth

↓ -1%
PR Newswire
Dec 19th, 2024
Sidecar Health And The Ohio State University Wexner Medical Center Announce Groundbreaking Fixed-Price Care Agreement

COLUMBUS, Ohio, Dec. 19, 2024 /PRNewswire/ -- Sidecar Health, a pioneering consumer-driven health insurance carrier, today announces a new, transparent pricing agreement with The Ohio State University Wexner Medical Center, home to the third-largest cancer hospital in the United States. This innovative agreement represents a significant advancement in transparent healthcare pricing and marks the first agreement of its kind for the academic medical center. Sidecar Health members will benefit from a fixed-price model that removes traditional barriers such as prior authorizations, unpredictable claim editing, and complicated medical management programs. This streamlined approach allows members to access advanced care at any Ohio State University medical facility, including The Ohio State University Comprehensive Cancer Center – Arthur G. James Cancer Hospital and Richard J

Modern Healthcare
Jun 27th, 2024
Top digital health funding: Ashton Kutcher VC backs obesity care

Insurance technology company Sidecar Health said it raised $165 million in Series D financing, with Koch Disruptive Technologies leading the round.

Hit Consultant
Jun 27th, 2024
Sidecar Health Raises $165M for Expansion

Sidecar Health raised $165 million in a Series D funding round led by Koch Disruptive Technologies, with participation from investors like GreatPoint Ventures and Menlo Ventures. The funding and a strategic partnership with Koch Industries aim to disrupt the employer-sponsored health insurance market. Sidecar Health plans to expand to Florida, leveraging its model that offers transparency, eliminates prior authorizations, and promises 20% cost savings compared to traditional plans.

PR Newswire
Jun 26th, 2024
Sidecar Health Selects Koch Disruptive Technologies to lead $165M Series D Financing

/PRNewswire/ -- Sidecar Health, a transformative health insurance company providing major medical coverage to businesses, announced today the closure of $165...

Drug Store News
Jan 10th, 2024
Mark Cuban Cost Plus Drug Company partners with Sidecar Health

Mark Cuban Cost Plus Drug Company is partnering with Sidecar Health, an insurance company, to help bring high-quality, lower-cost prescription drugs to Sidecar Health members.

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