Devoted Health Raises $175 Million To Support Its Medicare Advantage Plan Growth

Devoted Health, a Medicare Advantage plan sponsor, raised $175 million in a series E funding round. Devoted Health intends to use the funding to support growth. During 2023, Devoted Health expanded its Medicare Advantage membership by more than 70%, to reach over 140,000 enrolled as of December 2023. Devoted Health serves members in 299 counties across 13 states.

Investors included a lead syndicate composed of The Space Between (TSB), Highbury Holdings, GIC, Stardust Equity, Maverick Ventures, and Fearless Ventures. Returning investors Andreessen Horowitz and General Catalyst also participated, as well as other investors including GreatPoint Ventures, Socium Ventures, Emerson . . .