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About Devoted Health
Industries
Healthcare
Company Size
1,001-5,000
Company Stage
Series E
Total Funding
$2.3B
Headquarters
Waltham, Massachusetts
Founded
2017
Overview
Devoted Health provides Medicare Advantage plans aimed at simplifying and making healthcare more affordable for seniors aged 65 and older. Their plans include services like provider and pharmacy searches, prescription drug coverage, and preventive care rewards. Members pay premiums for these plans, and the company may also receive government payments for managing Medicare benefits. What sets Devoted Health apart from competitors is their high level of customer service, featuring Devoted Health Guides who assist members in navigating their healthcare options. They also promote preventive care through the Devoted Dollars program, which rewards members for engaging in health activities. The goal of Devoted Health is to create a more compassionate and accessible healthcare experience for its members.
Simplify's Take
What believers are saying
- Devoted Health raised $287 million in Series E funding in 2024.
- The company expanded Medicare Advantage plans to eight new states in 2023.
- Devoted Health achieved a 5-star Medicare Advantage rating in Ohio in 2023.
What critics are saying
- Increased competition from Medicare Advantage providers like Clover Health and Oscar Health.
- Potential regulatory changes affecting Medicare Advantage plans by CMS.
- Rising healthcare costs could impact the affordability of Devoted Health's plans.
What makes Devoted Health unique
- Devoted Health offers personalized assistance through Devoted Health Guides for member support.
- The company emphasizes preventive care with its Devoted Dollars rewards program.
- Devoted Health integrates virtual and in-home care with top local providers.
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Funding
Total Funding
$2256M
Above
Industry Average
Funded Over
6 Rounds
General Catalyst
Andreessen HorowitzIndustry standards
Benefits
Comprehensive health plan
401(k) retirement plan
Generous vacation and holiday time
Lyra mental health resources
Time off to vote
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↑ 0%Devoted Health announced a Series E funding round of $175 million in January 2024, led by a syndicate including The Space Between, Highbury Holdings, GIC, Stardust Equity, Maverick Ventures, and Fearless Ventures. Returning investors Andreessen Horowitz and General Catalyst also participated, along with GreatPoint Ventures, Socium Ventures, Emerson Collective, The Private Shares Fund, and F-Prime Capital Partners.
WALTHAM, MA, August 2, 2024 — Devoted Health, an all-in-one healthcare company for Medicare beneficiaries, today announced that it has completed a $287 million Series E funding round with $112 million funded in closings during 2024 in addition to the $175 million of funding closed in December 2023.
Tech-enabled Medicare Advantage startup Devoted Health is closing out 2023 with $175 million in fresh funding, marking one of the largest funding rounds of the year. | Tech-enabled Medicare Advantage startup Devoted Health is closing out 2023 with $175 million in fresh funding, marking one of the largest funding rounds of the year.
While the deal is one of the largest funding rounds of 2023, it is significantly lower than Devoted's $1.15 billion Series D round in October 2021.
Devoted Health closes out 2023 with $175M series E funding round.
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About Devoted Health
Industries
Healthcare
Company Size
1,001-5,000
Company Stage
Series E
Total Funding
$2.3B
Headquarters
Waltham, Massachusetts
Founded
2017
There are no jobs for Devoted Health right now.
Find jobs on Simplify and start your career today