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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
Simplify's Take
What believers are saying
- Membership grew 121% to 466,000 across 29 states by January 2026.
- Raised $287M in Series E funding through 2024 for expansion.
- Earned top U.S. News ratings for screening, prevention, and care continuity.
What critics are saying
- CMS 2025 Star Ratings below 4-stars cut bonuses and member acquisition.
- UnitedHealth's OptumHealth captures 15-20% share in North Carolina, Tennessee.
- 2026 reimbursement rates drop 0.16%, squeezing $293M revenue.
What makes Devoted Health unique
- Devoted Health integrates Medicare Advantage plans with Devoted Medical's in-home and virtual care.
- Devoted Guides provide personalized navigation for seniors unlike traditional insurers.
- Devoted Dollars rewards preventive care like flu shots and primary visits.
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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.
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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