Devoted Well being, a US insurtech firm specialising in Medicare companies, has raised $175m in a Sequence E funding spherical.
A consortium together with Fearless Ventures, GIC, Highbury Holdings, Maverick Ventures, the House Between and Stardust Fairness led the spherical.
The spherical was additionally joined by different traders together with Andreessen Horowitz, Emerson Collective, F-Prime Capital Companions, Basic Catalyst, GreatPoint Ventures, the Personal Shares Fund and affiliated funds, and Socium Ventures.
Arrange in 2017 by brothers Todd and Ed Park, Devoted Well being goals to supply all-in-one care for Medicare beneficiaries by means of its built-in insurance coverage and virtual-first medical care.
Devoted Medical insurance plans obtain tech-enabled preventative care companies from Devoted Medical, which was set as much as meet the distinctive wants of the Medicare beneficiaries.
The corporate’s proprietary expertise platform, Orinoco, helps Devoted Well being’s end-to-end operations.
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Devoted Well being mentioned the most recent infusion follows a interval of serious development for the corporate, which now serves greater than 140,000 members, marking a year-over-year improve of greater than 70%.
The growth consists of a rise in protection to 299 counties throughout 13 states.
Devoted Well being co-founder and CEO Ed Park mentioned: “In a healthcare system that’s not all the time accessible or simple to navigate, we at Devoted Well being are profoundly honoured to supply every member with the identical high quality of care and repair we’d need for our personal households.
“It’s deeply gratifying to have so many others imagine within the promise of our mannequin, and we’re very excited to carry the love and world-class care that’s Dedicated to increasingly more Individuals.”
