Clover Health
Jersey City, US · Founded 2014 · Delaware corporation · Public · 8 known investors
Clover Health is a health insurance provider offering low-cost plans with minimal premiums, copays, and prescription drug costs. The company uses technology called Clover Assistant to help members focus on healthier living.
Also known as CLOV · Clover Health Investments, Corp.
Founders & leadership
Clover Health was founded in 2014 by Vivek Garipalli.
Board
Investors · 8
Reported raises · per SEC filings
Form D private placements$48M disclosed across 2 of 3 rounds · 2015–2017
▶$13MraisedJan 2016 · 7 investors · Health InsuranceRule 506(b)
- Kris GaleExecutive Officer, Director
- Mike DixonDirector
- Nat TurnerDirector
- Vivek GaripalliExecutive Officer, Director
- Josh KopelmanDirector
- Offering amount
- $13M
- Amount sold
- $13M
- First sale
- Apr 2015
- Incorporated
- Corporation, Delaware, 2014
- Federal exemptions
- 06b
▶$35MraisedJan 2016 · 15 investors · Health InsuranceRule 506(b)
- Vivek GaripalliExecutive Officer, Director
- Nat TurnerDirector
- Mike DixonDirector
- Kris GaleExecutive Officer, Director
- Josh KopelmanDirector
- Offering amount
- $35M
- Amount sold
- $35M
- First sale
- Dec 2015
- Incorporated
- Corporation, Delaware, 2014
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Clover Health Investments, Corp. is an American health care company that provides Medicare Advantage (MA) insurance plans, including PPO and HMO products, and also operates as a direct contracting entity with the U.S. government. Its plans emphasize $0-to-low monthly premiums and copays, low prescription drug costs, a cap on out-of-pocket expenses, wide open networks of hospitals and providers with no referrals required, and supplemental benefits such as dental, vision, hearing and over-the-counter allowances. The company also runs the Clover LiveHealthy Rewards Program, under which members can earn up to $400 in Reward Dollars for health-related activities.
Central to the company's positioning is the Clover Assistant, a machine learning software platform that aggregates member health information and delivers care recommendations and alerts (for example, whether a patient has picked up a prescription) to primary care physicians. The company describes a focus on preventive care and on using data from the Clover Assistant to support physician decision-making based on a member's complete health history.
Beyond core insurance, Clover Health has extended into care delivery and research: it launched a home-based primary care program for homebound members in 2017 and, in 2019, launched Clover Therapeutics, a biopharmaceutical venture using data from Clover's plan members to research therapies for age-related chronic diseases.
Compiled by commissioned research from 6 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Founder mafia
5 people who came through Clover Health went on to found or lead other companies.
Competitors · 4
by search overlapCompanies competing with Clover Health for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 14
launches, deals, and filingsAndrew Toy became CEO after Vivek Garipalli transitioned out of the role at the end of 2022; Garipalli remained as executive chairperson.
Clover Health became a target of retail traders; shares rose 20% in one day after the company cautioned investors about buying shares amid a short squeeze driven by Reddit retail investors.
Clover Health began working as a direct contracting entity with CMS, allowing it to negotiate contracts with doctors treating fee-for-service Medicare patients; about half of total beneficiaries were added through this channel.
Hindenburg Research alleged Clover Health was under a Department of Justice investigation not disclosed to investors before going public; shares fell (reported as 12% and 15%). The company said the inquiry was determined immaterial. The SEC subsequently opened an investigation and the company disclosed it.
Clover Health started trading publicly on the Nasdaq on January 8, 2021, ending its first day with a value of about $7 billion.
Clover Health partnered with Spiras Health and Upward Health to expand its home-based primary care program.
Clover Health announced a $3.7 billion deal with Chamath Palihapitiya to go public through a merger with a special-purpose acquisition company.
$3.7B source ↗
The company said it needed to shift its focus to health care industry experience and reduced its staff by roughly 20 percent.
Clover Therapeutics partnered with Genentech to study the relationship between genetics and the risk of ocular disease.
Clover Health launched Clover Therapeutics, a biopharmaceutical company using data from Clover plan members to research and develop therapies for age-related chronic diseases.
Partnered with MindMate, an app developer making games designed to maintain or improve cognitive function in older adults.
Clover Health launched a home-based primary care program for homebound members, designed to reduce costs and hospitalizations.
Clover Health was fined $106,095 for misleading its members about where they could receive care; according to Bloomberg the company paid the fine and updated its marketing materials.
$106.1K source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structureIn the news
▸Research sources · 6
primary sources listed
- Clover Healthcloverhealth.com · web
6 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Clover Health do?
- Nasdaq-listed U.S. health insurer offering Medicare Advantage plans supported by its Clover Assistant software platform.
- Who founded Clover Health?
- Clover Health was founded by Vivek Garipalli in 2014.
- Who are Clover Health's investors?
- Clover Health's investors include First Round Capital, Floodgate, GV (Google Ventures), Lifeforce Capital, Toba Capital, Refactor Capital, Sequoia Capital, Spark Capital.
- How much funding has Clover Health raised?
- Clover Health has disclosed $48M raised across 2 of its 3 known rounds.
- Where is Clover Health headquartered?
- Clover Health is headquartered in Jersey City, US.