Asset-backed revolving facility, expandable to $100 million, will fund organic growth and acquisitions

Connie Health ("Connie"), a technology-enabled Medicare insurance brokerage, today announced that it has secured a $35 million asset-backed revolving credit facility from Rivonia Road Capital ("Rivonia"), a global private capital manager focused on specialty lending. The facility can be expanded up to $100 million to support Connie's ongoing national expansion.

Backed by Connie's Medicare book of business, the facility will fund both organic policy origination and M&A, a central pillar of the company’s expansion strategy.

Founded in 2019 and headquartered in Boston, Connie has built an AI native insurance agency that pairs a network of hundreds of local licensed agents with the industry's most complete technology platform. Members get a dedicated local agent for plan selection, enrollment and ongoing support, while Connie's AI-powered platform handles lead generation, compliance, back office and post-enrollment servicing, so agents can focus on their members. To date, Connie has raised approximately $85 million in equity capital, most recently in early 2025 through a Series B round led by HealthQuest Capital, with participation from Khosla Ventures, aMoon, and Pitango.

"Our model is built on long-term relationships between members and their local agents, and that shows in our retention," said Oded Eran, Co-Founder and CEO of Connie Health. "This facility gives us committed, scalable capital to expand our agent network organically and through acquisitions, ensuring our members continue receiving high-touch, personalized support on our platform."

Brad Smiedt, Co-Founder and Managing Partner of Rivonia Road Capital, added, "Connie has built a differentiated platform that combines the trust of a local agent with the efficiency of modern technology. We were impressed by the management team's deep industry experience and disciplined approach to both organic growth and acquisitions. This facility also extends Rivonia's commitment to the insurance distribution market, and we look forward to supporting Connie as it scales."

About Connie Health

Connie Health is a technology-enabled Medicare insurance brokerage headquartered in Boston, Massachusetts. Founded in 2019 by industry veterans Oded Eran, David Luna and Michael Scopa, Connie helps Medicare beneficiaries choose and enroll in Medicare Advantage, Medicare Supplement and Prescription Drug Plans through a network of local licensed agents supported by proprietary technology and centralized servicing. For more information, visit www.conniehealth.com.

About Rivonia Road Capital

Rivonia Road Capital is a global capital manager providing asset-backed capital solutions across the non-bank finance ecosystem. The firm combines deep institutional investment experience with significant operating expertise to partner with non-bank lenders, specialty finance companies, and financial technology businesses. Founded in 2017 and headquartered in Los Angeles, Rivonia structures flexible financing solutions across commercial, consumer, and real estate finance. For more information, go to www.rivoniaroad.com.

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