John Kao

John Kao

Orange-based Alignment Healthcare, a provider of Medicare Advantage insurance plans, said it’s raised $135 million from Fidelity Management & Research Co., funds and accounts advised by T. Rowe Price Associates Inc., and Durable Capital Partners LP

The Series C round brings Alignment’s funding to-date to $375 million and will increase the company’s Medicare Advantage footprint, technology investments and plan offerings.

“The growth we’ve since experienced is a testament to the impact our model is having in improving outcomes for seniors every day,” Alignment Healthcare founder and Chief Executive John Kao said in a statement.