Full-Time
Medicare Advantage plans with personalized guidance
$125k/yr
Washington, USA + 1 more
More locations: Oregon, USA
Remote
Must work Pacific Time hours.
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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.
Company Size
1,001-5,000
Company Stage
Series E
Total Funding
$2.3B
Headquarters
Waltham, Massachusetts
Founded
2017
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Comprehensive health plan
401(k) retirement plan
Generous vacation and holiday time
Lyra mental health resources
Time off to vote
Devoted Health is raising a new round of funding at a $25 billion valuation. Aug 21, 2026, 12:58 PM PT Devoted Health is the latest startup to show that combining health and AI commands a premium valuation. Just months after announcing a new round of funding, the Medicare Advantage startup is in talks to raise another round that could value the company at $25 billion, according to sources familiar with the matter. That's a jump from the company's $16 billion valuation in a funding round raised earlier this year, according to sources. Devoted Health, which is based in Waltham, Massachusetts, was founded in 2017 by brothers and former healthcare executives Ed and Todd Park. The startup combines health insurance and medical care for elderly people enrolled in the Medicare Advantage market. The company's proprietary AI tool, Orinoco, helps coordinate medical care for members. Ed Park was previously the COO of athenahealth, and Todd Park was the chief technology officer of the United States in the Obama administration. "We do not comment on our capital raising activity," said a company spokesperson. The fundraising reflects growing investor enthusiasm for healthcare companies that use AI to improve both patient care and the economics of medicine. The back-to-back rounds could also signal investor confidence in Devoted's ability to scale in one of healthcare's largest and fastest-growing markets. Medicare Advantage has become a battleground for both incumbent insurers and venture-backed startups. Medicare Advantage is the private alternative to the traditional Medicare program that provides health coverage to people 65 and older and people with disabilities. The program has grown rapidly over the past decade, with enrollment more than doubling. That boom has attracted both insurance giants and venture-backed startups eager to tap into the hundreds of billions of dollars the federal government spends on the program annually. Devoted generates revenue primarily through government-funded Medicare Advantage premiums, making it part insurer and part healthcare provider. The company had 466,000 members as of January 2026, a year-over-year increase of 121%. Devoted Health's investors include Andreessen Horowitz, Venrock, General Catalyst, Iconiq, and Emerson Collective, according to PitchBook.
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.