Alphabet-Backed Startup Clover Health Posts $22 Million Loss in 2017

Clover Health, an insurance startup backed by Alphabet Inc., reduced its loss last year as the health-care company seeks to inch its way beyond its first market in New Jersey.

Despite being one of the most richly valued health-tech startups in the U.S., Clover only offered insurance to seniors living in New Jersey, until a recent expansion to parts of Georgia, Pennsylvania and Texas. The New Jersey operation lost $22 million last year, an improvement from a $35 million loss in 2016, Clover said. Revenue grew to $267 million from $184 million.

Clover is privately held but agreed to share ...