Bright Health
The company is fighting to stay afloat amid growing losses and instability.
The company will also stop offering Medicare Advantage plans outside of California and Florida.
2022 Look Ahead
More payers launched virtual-first plans, insurtechs went public, and the digital mental health space brought in plenty of funding dollars this year.
This week the company also reaffirmed its 2021 revenue guidance and announced its outlook for next year.
The company is planning to list the initial stock price somewhere between $20 and $23 per share.
This comes just a week after news broke that Bright Health plans IPO.
Earlier this summer, the company announced plans to expand into new markets in 2021 and to add small-business plans in certain areas.
Also: RDMD names Spark Capital's Nabeel Hyatt to the board of directors, Unite US announces next COO.
The latest round brings Bright Health's fundraising total to more than $1 billion.
The company plans to use its oversubscribed round to expand into new markets and beef up its tech platform.