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An employer's view of its Collective Health data. Photo: Collective Health

Collective Health is raising $205 million in a new funding round led by a new investor, SoftBank's Vision Fund.

Why it matters: Employers are looking to make health benefits simpler and cheaper for their workers. That's the thesis behind Collective Health's technology, and the startup now has one of the largest investment firms in the world in its corner.

How it works: Collective Health often charges companies $20-$30 per employee per month to serve as the sole health benefits interface for employees. (Not every company falls within that pricing range, which is based on a company's employee population.)

  • Collective Health takes all of a company's existing health offerings — medical and vision benefits, telemedicine, on-site clinics, etc. — and plugs them into its technology.
  • Workers only need to use Collective Health when they have health care questions, like what their plan covers or what doctors are in-network.
  • Employers can track what their health care spending is in real time.

The big picture: Collective Health has 45 companies, such as Activision Blizzard and Pinterest, using its technology and plans on expanding that base with this new round, according to co-founder and CEO Ali Diab.

  • Diab says the company is more than just a third-party administrator. It's trying to make health care easier to navigate for workers, show employers what they are spending, and help companies see where waste could be.

Yes, but: People change their jobs all the time, so Collective Health won't follow them.

  • People also don't really use health care transparency tools when given the option.

The bottom line: Collective Health targets employers that are self-insured, which is how more than 60% of U.S. workers get their health insurance. Employer coverage is notoriously wasteful, and with $435 million now in outside funding, many investors think Collective Health can address some of the gaping holes.

Go deeper

A divided nation flocks to partisan brands

Data: Harris Poll; Chart: Danielle Alberti/Axios

Americans are leaning into companies that have strong political positions, in the wake of one of the country's most divisive election years.

Driving the news: New rankings from the Axios/Harris 100 poll — an annual survey to gauge the reputation of the most visible brands in the country — show that brands with clear partisan identifications are becoming more popular.

America is finally winning its fight against the coronavirus

Expand chart
Data: CSSE Johns Hopkins University; Map: Andrew Witherspoon/Axios

America’s battle against the coronavirus is going great.

The big picture: For the first time in a long time, nobody needs to cherry-pick some misleading data to make it seem like things are going well, and the good news doesn’t need an endless list of caveats, either. It’s just really good news. We’re winning. Be happy.

Updated 3 hours ago - World

Over 70 dead in worst bombardments between Israel and Hamas for years

Palestinian Muslims exchange wishes for Eid al-Fitr, marking the end of the fasting month of Ramadan, near a razed building in the northern Gaza Strip town of Beit Lahia, on May 13. Israeli forces said they had killed a senior Hamas commander in May 12 airstrikes. Gaza's health ministry said children died in the strikes. Photo: Majdi Fathi/NurPhoto via Getty Images

At least 67 Palestinians and seven Israelis have been killed in fighting between Israel's military and Hamas since Monday, per Reuters.

The big picture: The worst aerial exchanges of fire between Israel and Hamas since 2014 continued into early Thursday. It comes days after escalating violence in Jerusalem that injured hundreds of Palestinians and several Israeli police officers during protests over the planned evictions of Palestinian families from their homes.