Collective Health was founded in 2013 by Ali Diab, Kent Keirsey, and Rajaie Batniji. The company has not publicly endorsed a plan to participate in an IPO. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Collective Health is a flexible health insurance platform that helps HR departments manage employee plans by integrating benefit data from across networks. As of 2021, the company reports that it serves 300,000 members from more than 55 companies including Activision Blizzard, Pinterest, Red Bull, Zendesk, and Palantir. The company has also entered into a partnership with HCSC, an insurance company with more than 16-million members. Collective Health has raised $720 million in venture capital funding from investors including DFJ Growth, Founders Fund, G Squared, Maverick Ventures, NEA, PFM Health Sciences, and SoftBank Vision Fund. A $280 million Series F round resulted in a $1.5 billion valuation.