Sidecar Health Secures $165 Million in Series D Funding

Sidecar Health, a pioneering health insurance company, has successfully raised $165 million in Series D financing. This significant funding round, which is the largest private investment in employer health benefits this year, was led by Koch Disruptive Technologies. Other notable participants include GreatPoint Ventures, BOND, Cathay Innovation, Drive Capital, Duke University, Menlo Ventures, and Morpheus.

This funding boost is for Sidecar Health, a company known for its innovative approach to health insurance, empowering consumers with transparency and control over their healthcare choices. The funding round closed in June 2024.

Healthcare costs in the U.S. are projected to reach $5 trillion annually, with many Americans struggling with outdated insurance systems that hinder quality care. Sidecar Health's model offers a free market approach, giving consumers control over their healthcare decisions with transparent pricing and fewer restrictions. This funding will accelerate the company's expansion, potentially transforming how Americans access and afford healthcare.

David Mauney, Managing Director of Koch Disruptive Technologies, emphasized, "Sidecar Health is transforming the system with tools and transparency that put the consumer, not the insurance company, in control of their care decisions."

Andrew Perlman of GreatPoint Ventures added, "Sidecar Health represents the most important structural innovation in decades in the biggest industry in America."

Kendy Troiano, HR Director at Clark Grave Vault, praised the platform's flexibility and cost transparency, which helps maintain affordable coverage while enabling informed healthcare choices.