level-funded-plans
(2)
Arlo
Arlo is a New York-based health insurance startup rebuilding coverage for small and mid-sized businesses. It pairs AI-driven underwriting with value-based care and cost transparency to offer level-funded plans that make big-company benefits available to teams of roughly 10 to 150 employees, without the big-company admin. Founded in 2022 by former Palantir team lead Jan-Felix Schneider and ex-Finch engineering lead Karthik Bhaskara, Arlo raised a $4M seed round in 2025 led by Upfront Ventures and works with reinsurer Nationwide.
Sana
Sana is an Austin-based health insurtech building modern, tech-enabled health plans for small and medium-sized businesses. By cutting out the administrative bloat of the traditional 'Big 5' insurers and bundling free virtual primary care and care navigation, Sana says it can lower employer-paid premiums by roughly 20-30% while still offering rich benefits. It sells level-funded and group medical plans direct to employers and through brokers, pairing claims transparency with its own Sana Care clinical team.