## Chapter Raises $75 Million, Valued at $1.5 Billion, Despite Politically Charged Origins
Chapter, a Medicare advisory startup with notable ties to political figures Vivek Ramaswamy, J.D. Vance, and Peter Thiel, has successfully secured a $75 million funding round, propelling its valuation to $1.5 billion. The round was led by Stripes, a private equity and venture capital firm, signaling strong investor confidence in the company’s mission.
The startup aims to simplify the often-confusing process of selecting Medicare health plans for seniors. Chapter analyzes various factors, including doctors, hospitals, and prescription drug coverage, to guide users toward the best options for their needs. A key differentiator for Chapter is its focus on prioritizing client needs over the profits of insurance companies, a claim that sets it apart from many other Medicare insurance brokers.
Chapter’s history is intertwined with the political sphere. Naraya, the VC firm founded by current Vice President J.D. Vance, spearheaded Chapter’s Series A funding in 2020. Peter Thiel, another prominent investor, stepped in to fill Vance’s board seat in 2021 when Vance resigned to pursue his Senate ambitions.
While Thiel has since departed the board, the political undertones haven’t deterred bipartisan appeal. Donna Shalala, a Democrat who served as Secretary of Health and Human Services under President Clinton, has assumed Thiel’s former seat. Shalala downplayed the potential for political influence, stating to Bloomberg that she doesn’t view the company as politically driven, despite Ramaswamy’s co-founding role and the early investments from Republican figures like Vance and Thiel. This suggests that Chapter’s core mission and potential impact on the healthcare landscape are strong enough to transcend political divides, attracting investment and leadership from across the spectrum.