Hive Health secures $6.5m in Pre-Series A funding

It aims to expand healthcare access for SMEs in the Philippines.

Hive Health, a digital health insurance startup, has secured $6.5m in Pre-Series A funding. The funding round aims to expand healthcare access for small and medium-sized enterprises (SMEs) in the Philippines. 

The funding was led by the Sy family-backed Gentree Fund and global venture capital firm BEENEXT, with additional support from institutional investors such as Y Combinator, The Graduate Syndicate, Amasia, and Oak Drive Ventures.

 Notable angel investors include David Wells (former CFO of Netflix), Lee Kheng Nam (former Deputy Chairman of Vertex Holding), Natasha Reyes (former owner of HMO HPPI), and Dr. Edwin Mercado (founder of a major healthcare system now part of Healthway Qualimed network).

Founded in 2021 at Harvard and Stanford Universities, Hive Health offers HMO health plans for SMEs and startups. 

These plans include outpatient, inpatient, emergency, and dental care through a network of 1,700 hospitals and clinics and over 60,000 doctors nationwide. 

Notably, Hive Health was the first startup to acquire one of the pioneering HMO insurance companies in the Philippines, Health Plan Philippines (HPPI), securing a full insurance license and a 37-year nationwide provider network.