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Chapter Valuation, Funding & Investors
Chapter is valued at $3B as of April 2026.
Last Chapter valuation
$3B
Series E · Apr 2026
Last Chapter funding round
$100M
Series E · Apr 2026
Cumulative funding Chapter raised
$284M
across 5 funding rounds
Key investors in Chapter
Susa Ventures
Maverick Ventures
XYZ Venture Capital
Narya Capital
Addition
Stripes
About Chapter
Chapter is a Brooklyn-headquartered Medicare navigation platform assisting seniors with health coverage selection. It evaluates all plan options from insurers like UnitedHealthcare and Humana to recommend coverage matching individual needs at lowest costs. The service employs independent advisors free from carrier commissions to align recommendations with consumer interests.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Services, Subscription
Valuation
$3B (Apr 2026)
Chapter Valuation
Chapter is currently valued at $3B, based on its Series E in April 2026.
The $100M round was led by Generation Investment Management, with participation from XYZ Venture Capital, Susa Ventures, 8VC, Fifth Down Capital, Addition and 3 other investors.
Chapter's valuation has grown 2.0x from $1.5B at its Series D in April 2025 to $3B in April 2026, across 2 priced rounds.
Chapter valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2026 | Series E | $3B |
| Apr 2025 | Series D | $1.5B |
Chapter Funding History
Chapter has raised a total of $284M across 5 funding rounds.
Chapter's first fundraising round was a $17M Series A in September 2021. The most recent completed round was a $100M Series E in April 2026.
Chapter funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2026 | Series E | Generation Investment Management (lead); XYZ Venture Capital; Susa Ventures; 8VC; Fifth Down Capital; Addition; Maverick Ventures; Narya Capital; Stripes | $100M | $3B | - |
| Apr 2025 | Series D | Stripes (lead); XYZ Venture Capital; Susa Ventures; Addition; Maverick Ventures; Narya Capital | $75M | $1.5B | Chapter is a Medicare navigation and advisory platform that helps seniors select optimal health plans by analyzing doctors, hospitals, prescription coverage, and retirement needs, prioritizing unbiased guidance over insurer incentives. Co-founded by Vivek Ramaswamy, the company has attracted investors like Narya Capital (J.D. Vance's firm), Peter Thiel, and now Stripes leading its $75 million Series D round on April 16, 2025, with participation from XYZ Venture Capital, Susa Ventures, Addition, Narya Capital, and Maverick Ventures. This funding brings total capital raised to around $185 million, following a $50 million Series C less than a year prior, and values the company at $1.5 billion. The Series D infusion supports accelerated product expansion, including AI-driven tools, data infrastructure enhancements, and the growth of its Over-the-Counter app for accessing unused benefits. Chapter plans to deepen enterprise partnerships with health systems, financial institutions, and content creators to scale personalized Medicare experiences amid rising retiree needs and scams. Recent traction includes 4x enrollment growth over the past year, positioning it as the fastest-growing platform in the space. Stripes partner Ron Shah emphasized Chapter's innovative tech stack for superior senior guidance, joining the board as the firm backs consumer, enterprise, and healthcare brands. Despite political ties through founders and early backers, the company maintains bipartisan appeal, with former HHS Secretary Donna Shalala on the board. Leadership, including CEO Blumenfeld-Gantz, views the raise as opportunistic amid favorable terms for growing firms blending healthcare, fintech, and insurance navigation. |
| May 2024 | Series C | XYZ Venture Capital (lead); Susa Ventures; Addition; Maverick Ventures; Narya Capital | $50M | - | Chapter is a Medicare navigation platform that helps seniors evaluate all available Medicare options, recommend optimal coverage independently of economic relationships, and access benefits like over-the-counter (OTC) items by scanning insurance cards. Founded by Palantir alumni Cobi Blumenfeld-Gantz and Corey Metzman in 2020, the company partners with financial institutions, health systems, and content publishers to deliver guidance to individuals and enterprises. It emphasizes a data-first approach, transparency in data usage, and paying advisors regardless of enrollment outcomes, positioning itself as a consumer-first solution amid competition in Medicare Advantage and benefits navigation. On May 13-14, 2024, Chapter raised $50 million in a Series C funding round led by XYZ Venture Capital, with participation from existing investors Addition, Narya Capital, Susa Ventures, and Maverick Ventures. This round brings the company's total funding to approximately $110 million. The capital will accelerate product development, such as the new OTC product launch, expand enterprise capabilities for partners, support hiring, and scale to assist ten times more Americans with Medicare needs. Chapter reports over 4 times year-over-year growth and 5x less churn than industry standards, serving as the Medicare partner for leading healthcare and financial institutions. The funding reflects strong ecosystem demand from investment advisors, hospital groups, and physicians seeking to enhance value for seniors. Amid rising venture interest in insurance navigators, Chapter influences regulatory and industry views on Medicare delivery, with no details disclosed on Series D plans. |
| Jan 2022 | Series B | Addition (lead); XYZ Venture Capital; Susa Ventures; Core Innovation Capital; Maverick Ventures; Narya Capital; Health2047 Capital Partners | $42M | - | Chapter is a US-based Medicare navigation platform that provides personalized guidance to retirees for health coverage decisions, combining technology with human advisors to simplify Medicare enrollment and related services. The company matches users with optimal Medicare plans, offers unbiased advice, and has expanded into tools like a mobile app for Over-the-Counter benefits redemption, partnering with health systems, financial institutions, retailers, and digital platforms. Chapter advocates for policy reforms to improve transparency in the Medicare system and has demonstrated strong user satisfaction and retention. In the specified November 2022 funding round, led by Addition with participation from Core Innovation Capital, Health2047 Capital Partners, Maverick Ventures, Narya Capital, Susa Ventures, and XYZ Venture Capital. Chapter has shown significant traction with rapid growth, including quadrupling Medicare enrollments in recent periods and twentyfold user base expansion for its OTC app, tapping into a $5bn market opportunity for unused benefits. The company operates in the FinTech and InsurTech space, focusing on retirement healthcare, amid a competitive landscape of Medicare advisors and enrollment services. Subsequent developments include a Series C round less than a year before April 2025 and a $75M Series D in April 2025 led by Stripes, with continued support from existing investors like Addition, XYZ, Susa, Narya, and Maverick, to scale operations, deepen enterprise partnerships, and develop new retiree solutions using advanced data infrastructure. |
| Sep 2021 | Series A | Narya Capital (lead); Peter Thiel (lead); XYZ Venture Capital; Susa Ventures; Core Innovation Capital; Maverick Ventures; Health2047 Capital Partners | $17M | - | Chapter is a Medicare advisory platform founded in March 2020 that helps seniors navigate and enroll in Medicare plans using proprietary technology and licensed advisors. The company's platform searches more than 24,000 Medicare options nationwide—including Medicare Advantage, Medicare Supplements, and standalone Part D prescription plans—and provides personalized recommendations without compensation varying based on specific plan selections. Chapter was cofounded by Cobi Blumenfeld-Gantz (CEO, former Palantir employee), Corey Metzman, and Vivek Ramaswamy. In September 2021, Chapter announced a $17 million Series A funding round led by Narya Capital and featuring prominent investor Peter Thiel joining the board. Other participants included existing investors Susa Ventures, Maverick Ventures, XYZ Venture Capital, Core Innovation Capital, and Health2047 Capital Partners. The funding brought Chapter's total funding to approximately $19 million at that time, which the company planned to deploy toward hiring additional advisors and engineers to expand its technology platform. |
Who has invested in Chapter?
12 investors have backed Chapter across its funding rounds, including Susa Ventures, Maverick Ventures, XYZ Venture Capital, Narya Capital, Addition and Stripes.
Lead investors include Generation Investment Management, Stripes, XYZ Venture Capital, Addition, Narya Capital and 1 other investor.
Chapter Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Sep 2021 | ||
| 5 | Participant | Sep 2021 | ||
| 5 | Participant | Sep 2021 | ||
| 5 | Lead | Sep 2021 | ||
| 4 | Lead | Jan 2022 | ||
| 2 | Participant | Sep 2021 | ||
| 2 | Lead | Apr 2025 | ||
| 2 | Participant | Sep 2021 | ||
| 1 | Lead | Sep 2021 | ||
| 1 | Participant | Apr 2026 | ||
This data is available for Pro users. Sign up to see all 12 Chapter investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialChapter Competitors
Chapter competitors include listed companies like Privia Health and CCC Intelligent Solutions, and private ones like Collective Health, MediTrust Health, Rightway and Grow Therapy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.5B | - | ||
| Private | $154M | - | $1.4B | 9.3x | ||
| Private | - | - | $1.1B | - | ||
| Private | $1B | - | $3B | - | ||
| Publicly listed | $2.1B | $44M | $2.6B | 0.9x | ||
| Publicly listed | $1.1B | $238M | $3.9B | 4.5x |
Chapter Public Comps
Chapter is still privately-owned, but its public comps include Privia Health, Tieto, Clover Health, Pluxee, Schrödinger, CCC Intelligent Solutions, Progyny, Qingdao Baheal Medical, Benefit Systems and Omnicell.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.1B | $44M | 1.0x | 0.9x | 50.2x | 15.3x | |||
| $2.1B | $186M | 1.3x | 1.4x | 15.2x | 7.9x | |||
| $1.9B | ($84M) | 1.1x | 0.8x | (25.8x) | 34.1x | |||
| $1.5B | $500M | - | - | - | - | |||
| $256M | ($96M) | 7.6x | 7.9x | (20.3x) | (14.0x) | |||
| $1.1B | $238M | 4.8x | 4.5x | 21.5x | 10.8x | |||
| $1.3B | $90M | 1.4x | 1.4x | 20.6x | 8.0x | |||
| $1.1B | $139M | 1.9x | 1.9x | 15.1x | 16.8x | |||
This data is available for Pro users. Sign up to see all Chapter competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Chapter
| When was Chapter founded? | Chapter was founded in 2013. |
| Where is Chapter headquartered? | Chapter is headquartered in New York City, NY, United States. |
| Is Chapter publicly listed? | No, Chapter is a private, VC-backed company. |
| What is Chapter's valuation? | Chapter was last valued at $3B in its Series E in April 2026. |
| How much funding has Chapter raised? | Chapter has raised $284M across 5 funding rounds. |
| What was Chapter's last funding round? | Chapter's last funding round was a $100M Series E in April 2026, led by Generation Investment Management. |
| Who are Chapter's investors? | Chapter's investors include XYZ Venture Capital, Susa Ventures, Maverick Ventures, Narya Capital, Addition, Core Innovation Capital, Stripes, Health2047 Capital Partners, Peter Thiel, 8VC and 2 others. |
| Which companies are comparable to Chapter? | Companies comparable to Chapter include Collective Health, MediTrust Health, Rightway, Grow Therapy, Privia Health and CCC Intelligent Solutions. |
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