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Clover Health

InsurtechUSA
📉 Public < $1B
Peak $7 BillionToday
~-85%
from peak
  1. 🦄
    Became a unicorn
    2020
  2. 📈
    Peak valuation
    $7 Billion ’21
  3. 💔
    Became a Unitard
    ~2022
  4. 💸
    Last valuation
    ~$1.05B
Current status
Public ~$1.0-1.05B (borderline, currently slightly above)

How it happened

Clover Health is a US Medicare Advantage insurtech that went public via a Chamath Palihapitiya-backed SPAC in 2020, peaking near $7B in 2021. Persistent medical-loss and underwriting challenges, plus a short-seller report, weighed heavily on the stock. Its market cap fell roughly 85% to around $1B, leaving it hovering near the unicorn threshold rather than firmly above it.

Source: Crunchbase; verify live cap