Devoted Health seals 2023 with whopping $175M for series E!

Devoted Health, a tech-enabled Medicare Advantage startup, has closed out 2023 with $175 million in series E funding. The funding round was led by a syndicate that included The Space Between, Highbury Holdings, GIC, Stardust Equity, Maverick Ventures, and Fearless Ventures. Returning investors Andreessen Horowitz and General Catalyst also participated, along with other investors such as GreatPoint Ventures and Emerson Collective. Devoted Health offers “all-in-one” care for older Americans by combining Medicare Advantage coverage with its virtual and in-home care provider, Devoted Medical. The company also provides full-service “guides” to help members navigate their healthcare journey. Devoted Health has experienced rapid growth in the past year, serving over 140,000 members and expanding its services to 299 counties across 13 states. The company’s tech-enabled preventative care services have helped improve patient outcomes, with high percentages of members with diabetes and hypertension achieving control of their conditions. Despite a slowdown in health tech funding this year, Devoted Health’s series E funding round is one of the largest of the year.