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Devoted Health
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Medicare Advantage plans with personalized guidance
Devoted Health
Work Here?
Medicare Advantage plans with personalized guidance
Overview
Devoted Health provides Medicare Advantage plans that bundle medical services, prescription drug coverage, and preventive care rewards into a single package for seniors. Members navigate their benefits with the help of Devoted Health Guides, who provide personalized assistance in finding doctors and pharmacies to ensure care is easy to access. Unlike traditional insurance companies that often have long wait times, Devoted Health focuses on a high-touch customer service model and financial incentives for healthy behaviors like getting flu shots. The company's goal is to make the healthcare experience more affordable, compassionate, and simple for Medicare-eligible individuals.
About Devoted Health
Industries
Healthcare
Company Size
1,001-5,000
Company Stage
Series E
Total Funding
$2.3B
Headquarters
Waltham, Massachusetts
Founded
2017
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Simplify's Take
What believers are saying
- January 2026, Devoted closed $366 million, extending runway and funding expansion.
- Devoted grew membership 121% year-over-year to 466,000 by January 2026.
- NerdWallet noted Devoted offers low premiums and above-average CMS quality ratings.
What critics are saying
- May 2025 layoffs cut 120 workers, signaling cost pressure inside a growth story.
- NerdWallet says Devoted members file significantly more complaints than average, hurting retention.
- CMS star ratings and Medicare reimbursement changes can crush margins and enrollment quickly.
What makes Devoted Health unique
- Devoted Health pairs Medicare Advantage, Devoted Medical, and guides into one operating model.
- January 2026, several Devoted contracts earned five-star CMS ratings, uncommon in Medicare Advantage.
- Devoted served 466,000 members across 29 states by January 2026, proving scaled execution.
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Funding
Total Funding
$2.3B
Above
Industry Average
Funded Over
7 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.
Devoted Health is Hiring for 71 Jobs on Simplify!
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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
Devoted Health is Hiring for 71 Jobs on Simplify!
Find jobs on Simplify and start your career today