Troy Medicare Announces $10M Series B Led by AXA Venture Partners

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. Learn more about the company on the About Troy Medicare page.

From Troy Medicare's Leadership

"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, hyper-local 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."

Strategic Investment Priorities

The $10 million investment will be directed toward three strategic priorities: expanding Troy Medicare's geographic footprint within North Carolina, building out the technology platform that powers the company's pharmacy-first care model, and growing the team of clinicians, care managers, and operational staff needed to support an expanding membership base.

Technology-Enabled Care

Troy Medicare's technology investments are central to its strategy. The company's platform integrates pharmacy data, claims information, and clinical insights into a unified view that enables proactive care management. By analyzing prescription fill patterns, medication adherence data, and pharmacy interactions, the platform identifies members who may be at risk for health complications — and triggers outreach from care managers before those risks escalate into costly medical events. All technology operations adhere to Troy Medicare's compliance and data security standards.

The Pharmacy-First Model

The pharmacy-first model that underpins Troy Medicare's approach is particularly well-suited to the communities it serves. In many rural North Carolina counties, the local independent pharmacy is one of the few remaining healthcare touchpoints. Pharmacists in these communities know their patients by name, understand their health histories, and see them far more frequently than primary care physicians. Troy Medicare's model transforms these routine pharmacy visits into opportunities for health intervention, medication counseling, and early detection.

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.

Looking Ahead

The Series B funding positions Troy Medicare to accelerate its mission of bringing equitable, high-quality healthcare to the seniors who need it most. With AXA Venture Partners' global healthcare expertise and Sunwater Capital's continued support, the company is well-capitalized to pursue its ambitious growth plans while maintaining the community-first values that define its approach. Prospective members can explore plan options or contact Troy Medicare, and current members can access plan documents at any time.

About AXA Venture Partners (AVP)
AXA Venture Partners (AVP) 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 $800 million of assets under management through three pillars of investment expertise: early stage, growth stage, and fund of funds. The AVP team operates globally with offices in San Francisco, New York, London, Paris, and Hong Kong.

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.