Health insurance startup Angle Health has announced that it raised $200 million in a Series C funding round, along with a $400 million tender offer, giving the company a valuation of $2.7 billion. This funding round was led by Vitruvian Partners, with additional support from Town Hall Ventures, Blumberg Capital, Portage Ventures, PruVen Capital, and Y Combinator. The tender offer allows employees to sell some of their company shares, as reported by TechCrunch. The company expects the funding to be finalized later this month. Angle Health, which graduated from the Y Combinator startup accelerator in winter 2020, focuses on helping small businesses obtain and manage "level funded health plans." These plans are a hybrid between fully insured plans, where the insurance company assumes all financial risk, and self-funded plans, where the employer covers the costs directly. Level-funded plans allow businesses to make predictable payments to insurance carriers, while also being protected from unexpected high costs. If expenses are lower than expected, businesses may even receive a portion of the savings back. Angle Health uses an AI-powered platform to help small businesses choose and manage their health insurance plans. The platform integrates with existing payroll and human resources systems, making it easier for businesses to handle insurance needs. The company claims to serve over 5,000 businesses and is already profitable. The recent funding and tender offer highlight growing interest in innovative health insurance solutions, especially for small businesses that often struggle with the complexity and cost of traditional insurance models. Angle Health’s approach aims to provide a more flexible and cost-effective alternative to conventional health insurance options.