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Tech-enabled Medicare Benefit firm Devoted Health introduced it scored $175 million in Collection E funding on the finish of 2023.
Enterprise capital corporations Fearless Ventures, Highbury Holdings, Stardust Fairness, GIC, Maverick Ventures and The Area Between led the spherical.
Andreessen Horowitz, Emerson Collective, Socium Ventures, The Personal Shares Fund, and affiliated funds, Basic Catalyst, F-Prime Capital Companions and GreatPoint Ventures additionally participated within the spherical.
WHAT THEY DO
The insurtech firm gives a stack of healthcare companies to older adults, together with Medicare Benefit well being plans, partnerships with suppliers, and its in-house digital and at-home care supplier, Devoted Medical.
The corporate was based in 2017 by Todd Park, who beforehand cofounded Athenahealth and Castlight Well being, and his brother Ed Park, who held prime positions at Athenahealth.
“In a healthcare system that isn’t all the time accessible or straightforward to navigate, we at Devoted Well being are profoundly honored to supply every member with the identical high quality of care and repair we’d need for our personal households,” Ed Park, CEO of Devoted Well being, mentioned in an announcement.
“It’s deeply gratifying to have so many others consider within the promise of our mannequin, and we’re very excited to convey the love and world-class care that’s Dedicated to increasingly People,”
MARKET SNAPSHOT
In 2021, Devoted Well being scored $1.15 billion in Series D funding to assist nationwide enlargement. The corporate mentioned in an announcement that as of December 2023, it served greater than 140,000 members in 299 counties throughout 13 states within the U.S.
Devoted was one among quite a few corporations, corresponding to OpenAI and Google, that signed on to affix President Biden’s commitment to making sure the protected growth of synthetic intelligence.
In October, Devoted Health was one of 31 contracts that acquired a five-star score from the Facilities for Medicare and Medicaid Companies’ Medicare Benefit, Half C and Medicare Half D Star Rankings, which charge MA plans by the standard of well being and drug companies acquired by customers.
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