New Enterprise Associates (NEA) has led an investment in AllyAlign Health, according to a news release.
AllyAlign, based in Glen Allen, Va., is a Medicare Advantage insurance company focused on senior housing communities. Founded in 2014, the firm reports that it currently operates in 22 states.
New Enterprise Associates, based in Menlo Park, Calif., specializes in investments in venture growth equity at all stages. Founded in 1977, the firm has wide flexibility on investment size, primarily targeting healthcare and technology companies.
Joining NEA in the investment round were Oak HC/FT, Town Hall Ventures and existing investors Heritage Group and Ziegler.
Axios reported that the funding round approached $300 million.