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cloverhealth.com

Founded Year

2014

Stage

Reverse Merger | IPO

Total Raised

$925M

Market Cap

0.96B

Stock Price

2.02

About Clover Health

Clover is a healthcare technology company helping members live their healthiest lives with its Medicare Advantage plans. On a mission to improve every life, Clover uses its proprietary technology platform to collect, structure, and analyze health and behavioral data to improve medical outcomes and lower costs for patients. As a company whose business goals fully align with its members' health needs, Clover works with members and their doctors to become valued partners. Clover has offices in Nashville, San Francisco, Jersey City, and Hong Kong.

Clover Health Headquarters Location

30 Montgomery St 15th Floor

Jersey City, New Jersey, 07303,

United States

888-778-1478

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Expert Collections containing Clover Health

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Clover Health is included in 8 Expert Collections, including Fintech 250.

F

Fintech 250

498 items

F

Fintech for Seniors

26 items

Fintechs specifically targeting Baby Boomers and retirees.

I

Insurtech

2,487 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

V

Value-Based Care & Population Health

879 items

The VBC & Population Health collection includes companies that enable and deliver care models that address the health needs for defining populations along the continuum of care, including in the community setting, through participation, engagement, and targeted interventions.

C

Conference Exhibitors

5,302 items

F

Fintech

7,549 items

US-based companies

Clover Health Patents

Clover Health has filed 14 patents.

The 3 most popular patent topics include:

  • Data management
  • Medical terminology
  • Social networking services
patents chart

Application Date

Grant Date

Title

Related Topics

Status

1/8/2019

8/9/2022

Distributed computing architecture, Data management, Diagrams, Social networking services, Database management systems

Grant

Application Date

1/8/2019

Grant Date

8/9/2022

Title

Related Topics

Distributed computing architecture, Data management, Diagrams, Social networking services, Database management systems

Status

Grant

Latest Clover Health News

SPAC Mogul Chamath Palihapitiya Is Winding Down Two SPACs

Sep 20, 2022

SPAC Mogul Chamath Palihapitiya Is Winding Down Two SPACs SPAC Mogul Chamath Palihapitiya Is Winding Down Two SPACs 4 minutes read Chamath Palihapitiya, grand purveyor of special-purpose acquisition companies (SPACs), is throwing in the towel on some of his SPACs amid a shrinking market. He’s winding down two of his SPACs and returning $1.5bn to investors after failing to find acquisition targets for them. SPACs are publicly-traded shell firms that raise cash from investors and use it to acquire private companies. Circa 2020, they became an in-vogue alternative to a conventional initial public offering for companies seeking a listing. Yet, it didn’t take long for the market to dwindle as investors began shying away from riskier companies this year. No one else rode the SPAC wave like Palihapitiya. He launched 10 SPACs through his investment firm, Social Capital, with six focused on tech and four on biotech. Four of his tech SPACs completed mergers with Virgin Galactic, Opendoor, SoFi, and Clover Health. He’s winding down the remaining two due to a lack of suitable acquisition targets. “Over the past two years, we evaluated more than 100 targets and while we came close to doing a deal several times, we ultimately walked away each time for a couple of reasons,” Palihapitiya said in a regulatory filing . The two SPACs he is undoing are Social Capital Hedosophia Holdings Corp. IV (NYSE: IPOD) and Social Capital Hedosophia Holdings Corp. VI (NYSE: IPOF). When SPACs were hot, Palihapitiya positioned himself as the sector’s top cheerleader, rallying retail investors to buy into his SPACs. However, it did not end well; all his acquisition targets now trade significantly below their $10 debut price. One of them, Virgin Galactic, rose as high as $55, allowing Palihapitiya to sell his $213mn personal stake , but now trades at barely $5. SoFi currently trades at $6, down from a peak price of $25. Opendoor trades at about $4, down from a peak of $35. Clover Health trades at $2, down from its prime of about $17. Investors have turned their backs on the higher-risk companies (often yet to establish a stable business model) that tend to take the SPAC route amid a general cool down in the stock markets. Traditional IPOs have also been affected; according to Dealogic, US IPOs have raised $7bn so far in 2022, down 94% from the same period last year. As it seems, many retail investors that followed Palihapitiya have been left holding the bag, which doesn’t bode well for someone who called himself the figurehead of the Reddit-trader era. With his tech SPACs closing up shop, eyes will be on Palihapitiya to see if he can find acquisition targets for his biotech SPACs. He already merged two of them with ProKidney, a firm working on therapies to treat chronic kidney disease, and Akili, a peculiar company whose core product is a video game approved by U.S. health authorities for treating attention-deficit/hyperactivity disorder (ADHD). With two biotech SPACs down, Palihapitiya has two left to find mergers for. Share this...

Clover Health Web Traffic

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Clover Health Rank

  • When was Clover Health founded?

    Clover Health was founded in 2014.

  • Where is Clover Health's headquarters?

    Clover Health's headquarters is located at 30 Montgomery St, Jersey City.

  • What is Clover Health's latest funding round?

    Clover Health's latest funding round is Reverse Merger.

  • How much did Clover Health raise?

    Clover Health raised a total of $925M.

  • Who are the investors of Clover Health?

    Investors of Clover Health include Casdin Capital, Hedosophia, Jennison Associates, Social Capital Hedosophia Holdings III, Fidelity Investments and 22 more.

  • Who are Clover Health's competitors?

    Competitors of Clover Health include Metromile, Alan, Digit Insurance, BIMA, PolicyGenius and 11 more.

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