Clever Care Health Plan is a culturally-inclusive Medicare Advantage health plan centered on complete wellness, combining preventive Eastern therapies with Western allopathic care. The company offers comprehensive medical and supplemental benefits, including dental, hearing, vision, and Eastern benefits such as acupuncture, cupping, and herbal supplements. Since its launch in 2020, Clever Care has grown its membership to over 11,000 members. Led by CEO Myong Lee and based in Huntington Beach, California, the company recently added healthcare veteran Karen Walker Johnson to its board. Clever Care intends to use the new funding to expand its network of independent physicians and clinicians, enter new markets, and broaden outreach ahead of the 2024 Annual Enrollment Period. The plan emphasizes community-based, culturally sensitive wellness and care for its members. Clever Care Health Plan operates a Medicare Advantage HMO that integrates comprehensive medical and supplemental benefits with Eastern health and wellness solutions. The plan launched in Southern California in 2020 and positions itself as the first Medicare Advantage plan to offer acupuncture, meditation, herbal supplements, and medical and dental benefits in an integrated model. Its product targets Medicare beneficiaries seeking culturally sensitive, community-based wellness alongside traditional care. Financially, the company completed a Series B funding round of more than $71 million, bringing total capital raised to $96 million. Clever Care intends to use the financing to expand its network of independent physicians and clinicians, enter new markets, and broaden member access to community-based and culturally sensitive care ahead of the 2022 Annual Enrollment Period. Clever Care Health Plan develops affordable, culturally tailored Medicare Advantage plans aimed at improving access for diverse senior populations. The company emphasizes robust provider networks and innovative benefit design to reduce costs and improve member experience. Founders cite language and cultural barriers in existing provider directories and designed the plan to better serve members who need culturally competent care. Clever Care plans to set up a California Medicare Advantage health plan and hire staff across offices in Little Saigon (Orange County) and Arcadia (Los Angeles County). The senior leadership team includes CEO Dave Firdaus, COO Myong Lee, and CFO Hiep Pham, each with extensive managed-care experience. Financially, the company has raised $26 million to date, including a $6 million seed and a $20 million Series A.

Total raised

$133M

Funding rounds

3

Latest round

Series C

Latest activity

Mar 2023