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 focus on high-quality customer service, offering personalized assistance through Devoted Health Guides to help members navigate their healthcare options. They also promote preventive care through their 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.

Emerson Collective

Softbank Capital

NextView Ventures

General Catalyst

ICONIQ Growth

General Catalyst Partners

Andreessen Horowitz

Vision Fund

Uprising Ventures

Fearless Ventures

Maverick Ventures

Cox Enterprises

Stardust Equity

Highbury Group

F-Prime

The Space Between

Highbury Holdings

Socium Ventures

The Private Shares Fund

GreatPoint Ventures

Venrock

Obvious Ventures

Oak HC/FT

Flat World Partners

Premji Invest

Blue Cross and Blue Shield Association

Healthcare

Devoted Health

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.

Devoted Health raises $175M funding

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.

Devoted Health closes out 2023 with $175M series E funding round

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.

Insurtech Devoted Health closes $175M Series E round

Devoted Health closes out 2023 with $175M series E funding round.

Devoted Health, an all-in-one healthcare company delivering complete, coordinated, and customized care for older Americans, today announced that it was named as a Finalist to Fast Company's 2023 Best Workplaces for Innovators “ Health and Wellness ” list.

Devoted named to Fast Company's 2023 Best Workplaces for Innovators list

WALTHAM, Mass.--(BUSINESS WIRE)--Devoted Health, an all-in-one healthcare company delivering complete, coordinated, and customized care for Medicare-eligible beneficiaries, announced today that it has launched Devoted Medicare Advantage plans and Devoted Medical services across eight new states: Alabama, Colorado, Hawaii, North Carolina, Oregon, Pennsylvania, South Carolina, and Tennessee. Devoted is enrolling members during the current Medicare Annual Enrollment Period that begins October 15. Coverage for new enrollees and care delivered by Devoted Medical will begin January 1, 2023. The new markets are led by experienced professionals who bring a deep understanding of how to successfully grow Medicare Advantage (MA) plans and collaborate with key provider partners. With more than 30 years of experience between them, James Laughlin and Robert Pettigrew will serve as presidents of several new markets; Laughlin will be the president of the North and South Carolina markets and Pettigrew will lead the markets in Oregon and Denver. Current Devoted Market President Keith Dines will oversee Hawaii, in addition to Devoted’s existing market in Arizona. Sheffield Young, current president of Devoted’s Illinois market, will expand to also lead Alabama, Pennsylvania, and Tennessee

Devoted Health Brings All-In-One Healthcare To Eight New States

WALTHAM, Mass.--(BUSINESS WIRE)--Devoted Health, an all-in-one healthcare company delivering complete, coordinated, and customized care for Medicare-eligible beneficiaries, announced today that its HMO health plans in Ohio were awarded a 5 out of 5 Medicare Advantage (MA) performance Star Rating for 2023 in their first year of eligibility for the recognition, and its HMO plans in Arizona earned a 4 out of 5 Star Rating for their first year of eligibility. This is a remarkable accomplishment, as our Ohio contract was one of only two contracts in the nation to earn 5 out of 5 Stars in the first year of eligibility for the 2023 plan year. On average, fewer than 10 percent of new MA plans receive a 4 Star Rating or higher in their first year of eligibility, and only 5 percent receive a 4.5 Star Rating or higher. The company’s HMO plans in Florida and Texas both received a 4.5 out of 5 Star Rating, continuing the strong scores they received in their first year of eligibility last year. Granted by the Centers for Medicare & Medicaid Services (CMS) based on information received from providers, health plans, and member satisfaction surveys, the Star Rating recognizes excellence in MA plan quality and performance. Devoted Health’s ratings across its eligible markets place the company’s MA plans among the top plans in the nation, and demonstrate the power of its innovative all-in-one healthcare model for delivering superior clinical outcomes and member experiences. Devoted’s strong Stars performance is especially impressive in a year when many plans experienced a decline in Star Ratings, with only 51 percent of plans being rated 4 out of 5 Stars or higher in 2023, compared to 68 percent in 2022. For Devoted, 90 percent of members in Star-eligible contracts are in plans with 4.5 out of 5 Star Ratings or higher, and 100 percent are in plans with 4 out of 5 Star Ratings or higher

Devoted Health Achieves Top 5 Out Of 5 Medicare Advantage Star Rating For Ohio Hmo Plans In First Year Of Eligibility

WALTHAM, Mass.--(BUSINESS WIRE)--The iconic singer, actor, and American Idol judge, Lionel Richie is partnering with Devoted Health, a new kind of healthcare company providing all-in-one care for Americans on Medicare. Richie has long been dedicated to improving healthcare access, and through this partnership, he will support Devoted Health’s expanding efforts to offer higher-quality care to more Americans on Medicare across the country

Lionel Richie Partners With All-In-One Healthcare Company, Devoted Health

In the latest sign of the health-care industry’s focus on the growing business of private Medicare coverage, several high-profile executives are planning to launch Devoted Health, a new startup insurer focused on such plans.

Startup Insurer Seizes on Growing Market for Private Medicare Coverage

Medicare Advantage plans with personalized support

Devoted Health

Medicare Advantage plans with personalized support

Devoted Health

Medicare Advantage plans with personalized support

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