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Bright Health, an insurance company that provides exclusive Care Partner Health Plans for everyday individuals at competitive prices, today announced it has raised $200 million in an oversubscribed Series C funding round. The financing includes two new investors, Declaration Partners and Meritech Capital, as well as existing investors Bessemer Venture Partners, Cross Creek Advisors, Flare Capital, Greenspring Associates, Greycroft Partners, New Enterprise Associates (NEA), Redpoint Ventures, and Town Hall Ventures.

Big health insurers are losing more market share each year. Their customers are turning to digital upstarts that offer cheaper plans, better customer service, and the technology to coordinate care more efficiently. That’s why venture investors are betting on a crop of new companies like Oscar Health Insurance Corp. and Devoted Health Inc., both of which are valued at over $1 billion. Another company, Bright Health Inc., is now close to joining the unicorn club. The startup takes things a step further by acting as both insurance provider and health plan operator.

Today, Health and Human Services Deputy Secretary Eric Hargan announced the initial core participants of the Deputy Secretary’s Innovation and Investment Summit (DSIIS) and December 18, 2018 as the date of the first meeting. As announced on September 19, 2018, the DSIIS will be a yearlong collaboration between healthcare innovation and investment professionals and HHS personnel who will meet quarterly to discuss the innovation and investment landscape within the healthcare sector, emerging opportunities, and the government’s role in facilitating more investment and accelerated innovation.

ClearDATA®, a leading security and compliance expert in the healthcare cloud, completed a financing round of $26 million to expand product innovation, enhance customer success and continue its high growth trajectory. Two new strategic investors participated in the financing round, including Humana Inc. (NYSE: HUM), a leading health and well-being company, and Health Care Service Corporation (HCSC), which operates Blue Cross and Blue Shield plans in Illinois, Montana, New Mexico, Oklahoma and Texas.

Almost three years ago, a group of Massachusetts’ most powerful business leaders joined with Governor Charlie Baker to stick a flag in the ground: The state would become the nation’s epicenter for digital health care. When it came to the software that linked consumers with doctors, hospitals, and insurers, we’d be so dominant that even the denizens of Silicon Valley would have to admit it. A 38-member state advisory council on digital health care was formed, as were a new $26 million venture capital fund and a pair of incubators for fledgling startups.