Nov 29, 2018

Bright Health raises another $200 million

Bright Health's co-founders: Bob Sheehy, Tom Valdivia and Kyle Rolfing. Photo: Bright Health

Bright Health, an insurance startup that sells Medicare Advantage and Affordable Care Act plans, has raised $200 million in a new funding round from 10 investment firms — bringing its total venture capital fundraising to about $440 million.

The bottom line: The company had 23,000 ACA members and 2,100 MA enrollees through the first 9 months of 2018, leading to $91.3 million of revenue and a $4.5 million net loss, according to state insurance documents. Like Oscar and Devoted Health, Bright Health is looking to make money from these two specific types of health insurance by keeping people within very limited networks of hospitals and doctors, and by saying its technology is better than incumbent insurers'.

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Older candidates take the lead on social media

Illustration: Eniola Odetunde/Axios

Michael Bloomberg, Bernie Sanders and Joe Biden — all close to 80 — are pushing the boundaries on social media, while their younger Democratic presidential rivals are comparatively staying out of the fray.

The big picture: President Trump's unexpected rise to political power has shown Democrats and world leaders the power of harnessing popular internet culture to get elected.

South Korea and Italy step up emergency measures as coronavirus cases jump

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus has spread to more nations as South Korea and Italy step up emergency measures in their countries amid rising case numbers on Sunday.

The big picture: COVID-19 has killed at least 2,462 people and infected almost 79,000 others, mostly in mainland China. South Korea increased the infectious disease alert to red, the highest possible, as its case numbers jumped to 602 and the death toll to five. Italy's government announced emergency measures, with several towns in the north effectively placed in lockdown, as it confirmed two deaths and infections rose to 79.

Go deeperArrowUpdated 4 hours ago - Health

Bernie Sanders wins Nevada caucus

Democratic presidential candidate Sen. Bernie Sanders waves to supporters at a campaign rally on Friday in Las Vegas. Photo: Mario Tama/Getty Images

Sen. Bernie Sanders is projected to handily win the Nevada Democratic primary caucus, becoming the clear frontrunner among 2020 Democratic presidential primary election candidates.

Why it matters: Nevada is the first state with a diverse population to hold a nominating contest, highlighting candidates' abilities to connect with voters of color — particularly Latino voters.

Go deeperArrowUpdated 4 hours ago - Politics & Policy