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Evolent Health has raised $100.0M across 1 funding round.
Key people at Evolent Health.
Evolent Health has raised $100.0M in total across 1 funding round.
Based in Arlington, Virginia, Evolent Health provides technology platforms and clinical services that assist healthcare providers and payers in transitioning from fee-for-service to value-based care models. The company manages population health and specialty care programs, overseeing billions of dollars in healthcare spending after surpassing $100 million in annual revenue by the end of 2014. Prior to its 2015 initial public offering on the New York Stock Exchange that raised $195 million and achieved a $1 billion market capitalization, the enterprise secured a $100 million Series B funding round. The organization has received financial backing from prominent investors and strategic partners including UPMC Health Plan, The Advisory Board Company, and TPG, while also acquiring Valence Health to expand its Medicaid capabilities. Evolent Health was founded in 2011 by Frank Williams, Seth Blackley, and Dr. Tom Peterson.
Evolent Health, Inc. (EVH) is a healthcare technology and services company that partners with health plans, providers, and health systems to achieve better clinical and financial outcomes through value-based care.[1][2][3] It specializes in managing complex populations, offering solutions like clinical program management, care management, risk adjustment, pharmacy benefits management, specialty care (oncology and cardiology), total cost of care management, and administrative simplification, serving over 60 health plans and 800 provider organizations as of 2024.[1][2] With FY2024 revenue of $1.96 billion, Evolent drives growth by reducing costs, improving quality, and enhancing patient experiences via data analytics and aligned incentives between payers and providers.[1]
The company's mission is to transform healthcare by making it simpler and more affordable, focusing on population health management for complex conditions, better health outcomes, and changing how care is delivered nationwide.[1][2][4]
Evolent Health was founded in 2011 and is headquartered in Arlington, Virginia.[1] It emerged from a recognition of inefficiencies in U.S. healthcare, particularly in high-complexity areas like oncology and cardiology, where rapid scientific advancement meets high waste and low quality.[2] Early focus centered on value-based payment models to facilitate better patient-provider relations, reduce hospital costs for chronic conditions, and simplify administration.[2] Pivotal growth came through partnerships with leading health systems, evolving into a tech-enabled platform for population health and financial risk management, as seen in recent deals like with WakeMed Health & Hospitals.[3] Over the past decade, it has expanded niches in specialty care, primary care, and administrative services while demonstrating traction via revenue growth to nearly $2 billion by FY2024.[1][2]
Evolent stands out in healthcare through:
These elements position Evolent as a long-term operating partner rather than a transactional vendor.[3]
Evolent rides the shift to value-based care, a trend accelerating amid rising U.S. healthcare costs and policy pushes like Medicare Shared Savings Programs, where fee-for-service models give way to outcomes-based payments.[1][2][3] Timing is ideal as scientific advances in oncology and cardiology outpace traditional delivery, creating opportunities in high-waste areas, while administrative burdens hinder even well-insured patients.[2] Market forces favoring Evolent include payer-provider alignment demands, population health needs for chronic conditions, and tech adoption for analytics-driven decisions.[1][4] It influences the ecosystem by powering health systems' transitions—e.g., WakeMed's ACO participation—and scaling solutions across networks, fostering a more efficient, patient-centered industry.[3]
Evolent's momentum, with $1.96B FY2024 revenue and expanding partnerships, sets it up for accelerated growth in oncology, cardiology, primary care, and administrative tech.[1][2] Next steps likely include platform enhancements, more health system deals, and deeper value-based penetration amid regulatory tailwinds.[1][3] Trends like AI analytics, chronic care demands, and cost pressures will shape its path, potentially evolving its influence from niche partner to dominant population health orchestrator. This builds on its core strength: turning healthcare complexity into scalable, affordable outcomes.[1][2]
Key people at Evolent Health.
Evolent Health has raised $100.0M in total across 1 funding round.
Evolent Health's investors include Robert Musslewhite, Matthew Hobart, Diane Holder.
Evolent Health has raised $100.0M across 1 funding round. Most recently, it raised $100.0M Series B in September 2013.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 30, 2013 | $100M Series B | — | Robert Musslewhite, Matthew Hobart, Diane Holder | Announced |
