Today: Apr 23, 2024

Devoted Health: $175M Funding Fuels Medicare Advantage Innovation Acceleration!

4 months ago

Devoted Health, a Medicare Advantage startup, has secured $175 million in Series E funding, making it one of the largest funding rounds of the year. The company aims to revolutionize the Medicare Advantage sector through its tech-enabled services and partnerships with leading providers. Devoted Health currently serves over 140,000 members across 299 counties in 13 states and has seen a year-over-year growth rate of over 70%. The company’s high-quality services have been recognized through increased Medicare Advantage Star ratings. This funding round, led by a syndicate of investors, follows a successful $1.15 billion Series D funding round in 2021 and values Devoted Health at $12.9 billion. The funds will be used to support the company’s growth plans and expand its tech-enabled preventative care services. Devoted Health combines Medicare Advantage plans with virtual and at-home care, positioning the company for continued growth and profitability. Through its innovative care models and use of technology, the company is dedicated to transforming the Medicare Advantage landscape and providing high-quality care to older Americans.