AXA

Funding accelerates the growth of Troy Medicare and its unique technology-enabled Medicare
Advantage plan designed to empower independent pharmacies and providers to care for
underserved communities in the US

November 17, 2020

Charlotte, NC. Troy Medicare, the pharmacy-powered, technology-driven Medicare Advantage
company, today announced it has raised a $10 million Series B round of funding led by AXA Venture
Partners, the global technology-focused venture capital firm. 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.
“As the only Medicare Advantage company with deep relationships with independent pharmacies
and providers, we’re excited to bring AXA Venture Partners, with its understanding of healthcare
and technology, to the table as our first institutional investor,” said Flaviu Simihaian, CEO and Co-
Founder of Troy. “With this funding, we can continue to build out our model for a personal, hyperlocal
Medicare Advantage experience. Our partner pharmacists have a meaningful relationship with
their patients, and our plan leverages those touchpoints to improve the health of our members.”
“The Troy team is transforming care for Medicare Advantage beneficiaries, starting with North
Carolina,” said Manish Agarwal, General Partner at AXA Venture Partners. “Troy’s approach brings
a personalized, technology-enabled, local feel to care management and delivery for populations that
have been underserved by existing options in Medicare Advantage. We believe this model will
improve health outcomes and lower costs for these populations, and we’re excited to be a part of
the team.”

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, $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.

About Troy Medicare
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.

For more information on Troy Medicare, please visit http://www.troymedicare.com.

Contacts
Joey Shandley
press@troymedicare.com
704-275-8900 Ext. 111

About AXA Venture Partners (AVP)
AXA Venture Partners (AVP) is a global venture capital firm investing in high-growth, technologyenabled
companies. AVP has built, in less than five years, a unique investment platform specialized
in tech investments with $800 million 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. More details here: www.axavp.com

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