PriyaPatel
TLDR:
Key Points:
- Cresso Health launches in the US, distributing health insurance products from major carriers.
- Cypress Ridge Capital invests undisclosed amount in Cresso Health for growth and expansion.
In a recent development in the healthcare insurtech industry, Cresso Health has officially launched its operations in the US. The company specializes in sales and marketing solutions for health insurance carriers, with a focus on the government-sponsored health insurance market. Cresso Health promotes and distributes health insurance products from major carriers through its network of independent agents and agencies. To support its growth and expansion, Cypress Ridge Capital has invested an undisclosed sum in the company, aiming to broaden its product offerings and extend its geographic reach.
The co-founders of Cresso Health, Frank Pistone, Mike Bully, and Gabe Tovar, are industry veterans with a deep understanding of the dynamic health insurance distribution landscape. The partnership with Cypress Ridge Capital is expected to accelerate Cresso Health’s vision for growth in the industry. CEO Frank Pistone highlighted the importance of delivering a capability set that enables partner agencies to best serve consumers in the rapidly evolving industry.
In another significant development, Sidecar Health recently raised $165 million in a Series D funding round led by Koch Disruptive Technologies, showcasing the growing interest and investment in the US health insurtech sector. This round saw contributions from a mix of new and returning investors, underscoring the potential for innovation and disruption in the healthcare insurance market.
Overall, the launch of Cresso Health and the strategic investment from Cypress Ridge Capital signal a positive outlook for the healthcare insurtech industry in the US, with a focus on leveraging technology and partnerships to enhance consumer experience and drive growth.
