Devoted Health is a technology company.
Devoted Health has raised $992.0M across 4 funding rounds.
Devoted Health has raised $992.0M in total across 4 funding rounds.
Devoted Health has raised $992.0M in total across 4 funding rounds.
Devoted Health's investors include Autism Impact Fund, CVS Health, F-Prime Capital Partners, Ulu Ventures, VZVC, Define Ventures, Highbury Group.
Devoted Health is a technology-driven healthcare company that provides all-in-one Medicare Advantage plans for older Americans, integrating insurance, clinical care, personalized support, and proprietary software to deliver seamless, empathetic care.[2][1][3] It serves Medicare-eligible seniors facing confusing, expensive, and impersonal healthcare, solving these issues through comprehensive plans with usable benefits, full-service member Guides, access to trusted local providers, in-house Devoted Medical for virtual and in-home care, and technology that prioritizes member needs over billing.[2][4][5] The company demonstrates strong growth momentum, expanding to 13 states by 2023 with over 80,000 members, raising Series E funding, achieving high clinical outcomes like 83% diabetes control rates, and earning top 2025 Star Ratings for quality.[4][6][5]
Devoted Health was founded in 2017 by brothers Todd Park and Ed Park, both with deep healthcare tech experience—Todd as co-founder of athenahealth and former U.S. Chief Technology Officer, and Ed as a physician executive.[2][4][6] The idea emerged from their frustration with the state of Medicare care, asking if "confusing, expensive, impersonal" healthcare was the best possible, leading them to build a company treating every member like family with compassion, insurance, clinical care, and technology.[1][2] Early traction came from designing integrated solutions, partnering with providers, and launching in multiple states, with pivotal growth including serving 80,000+ members by 2023 and expansions fueled by proven health outcomes.[4][6]
Devoted Health stands out in Medicare Advantage through its vertically integrated model combining five key elements:
Devoted Health rides the Medicare Advantage boom, capitalizing on aging demographics, rising healthcare costs, and shifts toward value-based care amid traditional Medicare's limitations.[2][3] Timing aligns with tech-enabled disruption in senior health, where virtual/in-home care and AI-driven coordination address access gaps post-pandemic, while market forces like CMS incentives for quality outcomes favor integrated players over fragmented insurers.[4][5][6] It influences the ecosystem by pioneering "all-in-one" models, proving superior results (e.g., diabetes/hypertension control), expanding to new states, and attracting funding, pushing competitors toward tech-clinical hybrids and elevating standards for senior-focused healthtech.[4][6]
Devoted Health is poised for accelerated scaling, likely deepening penetration in existing markets, entering more states, and enhancing AI-powered personalization in its platform to further boost outcomes and retention.[5][4] Trends like expanding Medicare eligibility, regulatory pushes for preventive care, and telehealth normalization will propel growth, while its family-like model could evolve influence by inspiring ecosystem-wide adoption of integrated care. As a disruptive force humanizing Medicare, Devoted exemplifies how tech can transform healthcare from impersonal to profoundly caring, fulfilling its founding promise at scale.[2][1]
Devoted Health has raised $992.0M across 4 funding rounds. Most recently, it raised $180.0M Series E in December 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2023 | $180.0M Series E | Autism Impact Fund, CVS Health, F-Prime Capital Partners, Ulu Ventures, VZVC | |
| Apr 1, 2020 | $450.0M Series C | Autism Impact Fund, CVS Health, Define Ventures, F-Prime Capital Partners, Highbury Group, Ulu Ventures, VZVC | |
| Oct 1, 2018 | $300.0M Series B | Autism Impact Fund, CVS Health, Define Ventures, F-Prime Capital Partners, Highbury Group, Ulu Ventures, VZVC | |
| Oct 1, 2017 | $62.0M Series A | Autism Impact Fund, CVS Health, F-Prime Capital Partners |