17 November 2020 - - US-based Medicare Advantage company Troy Medicare has raised a USD 10m series B round of funding led by AXA Venture Partners, the global technology-focused venture capital firm, the company said.

Sunwater Capital also participated in the round.

With the support of investors, Troy will continue to expand its Medicare Advantage plan that provides high-quality care and a superior patient experience to underserved communities via partnerships with local, independent pharmacies and significant investment in technology.

Troy Medicare launched in October 2018 with an innovative approach to Medicare Advantage that leverages the local, independent pharmacy and technology to improve patient experience.

With 100% transparent drug pricing, USD 0 generics at independent pharmacies, and no hidden fees for pharmacies or providers, Troy offers a better Medicare Advantage plan for members and providers alike.

In 2021, Troy will expand its offering to dual-eligible Medicare beneficiaries and continue to grow its team and expand its geographic footprint.

AXA Venture Partners is a global venture capital firm investing in high-growth, technology-enabled companies.

AVP has built, in less than five years, a unique investment platform specialized in tech investments with USD 800m of assets under management through three pillars of investment expertise: early stage, growth stage, and fund of funds.

To date, AVP has invested in more than 45 companies and more than 20 funds. The AVP team operates globally with offices in San Francisco, New York, London, Paris, and Hong Kong.

Beyond investments, AVP provides unique access to business development opportunities helping portfolio companies to scale globally and accelerate their growth.

Troy Medicare is a Medicare Advantage company based in Charlotte, North Carolina with a mission to improve healthcare in each local community it serves. By empowering local providers and pharmacies with world-class technology, Troy ensures that each member receives the best, tailored, hyper-local care.