Centivo
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Investors
Founders
About
Centivo is a health plan administrator for self-funded employers, founded in 2017 and headquartered in Buffalo, NY 12. The company partners with local health systems to offer primary care-centered health plans designed to lower the total cost of care by 30% or more compared to traditional insurance carriers 2. Co-founders Ashok Subramanian and Alan Cohen previously co-founded Liazon, a benefits exchange platform 1. As of September 2024, Centivo had raised approximately $171 million in equity financing 3.
Funding History
| Round | Date | Amount | Lead Investor(s) | Key Co-Investors |
|---|---|---|---|---|
| Series A | Jul 2018 | $34M | Bain Capital Ventures | F-Prime Capital, Maverick Ventures, Bessemer Venture Partners, Ingleside Investors, Rand Capital, Grand Central Tech Ventures, Oxeon Investments 1 |
| Series B | Dec 2020 | $34M | B Capital Group | Define Ventures, HarbourVest Partners, Nassau Street Ventures, Bain Capital Ventures, Company Ventures, F-Prime Capital, Maverick Ventures, Ingleside Investors, Rand Capital 45 |
| Series C | Sep 2021 | $51M | B Capital Group, Maverick Ventures | Bain Capital Ventures, Company Ventures, Define Ventures, F-Prime Capital, HarbourVest Partners, Ingleside Investors, Nassau Street Ventures 6 |
| Series B-1 Extension | Jul 2022 | $30M | Morgan Health (JPMorgan Chase) | — 7 |
| Series D | Sep 2024 | $75M (equity + debt) | — | B Capital, Cox Enterprises, F-Prime Capital, Ingleside Investors, Morgan Health, Cone Health Ventures, MemorialCare Innovation Fund; debt from Trinity Capital and JPMorgan Chase 38 |
What Investors Say
“Centivo is structurally lowering the cost of healthcare purchasing by using technology and analytics to create efficiencies and improve outcomes.” – Karen Page, General Partner, B Capital Group 5
“It has been impressive to watch Centivo’s rapid growth and success as they continue to pave the way to make healthcare effective and affordable.” – Ambar Bhattacharyya, Maverick Ventures 6
“There is a critical and growing need for employers to offer – and for employees to have access to – high quality and affordable health insurance options.” – Peter Scher, Vice Chairman, JPMorgan Chase 7
What Founders Say
“Excellent healthcare shouldn’t break the bank, and Centivo is proving it can be delivered affordably and effectively.” – Ashok Subramanian, CEO & Co-Founder 5
“Morgan Health and Centivo share a joint mission of restoring health care affordability and value for American workers through a greater emphasis on accountable care.” – Ashok Subramanian, CEO & Co-Founder 7
Sources
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Centivo, “Centivo, a New Type of Health Plan, Raises $34 Million in Series A Funding,” July 2018. https://centivo.com/centivo-a-new-type-of-health-plan-raises-34-million-in-series-a-funding/↩↩↩↩
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Centivo, “Our Story,” accessed March 2026. https://centivo.com/our-story/↩↩
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MedCity News, “Centivo Snags $75M To Make Healthcare More Accessible and Affordable for Workers,” September 2024. https://medcitynews.com/2024/09/centivo-funding-employers/↩↩↩
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Crunchbase News, “Centivo Secures $34M Series B To Scale Self-funded Employer Health Plan,” December 2020. https://news.crunchbase.com/startups/centivo-secures-34m-series-b-to-scale-self-funded-employer-health-plan/↩↩
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Centivo, “Centivo raises $34 million in series B round,” December 2020. https://centivo.com/centivo-raises-34-million-in-series-b-round-to-help-employers-deliver-affordable-high-quality-healthcare-to-their-employees/↩↩↩↩
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Centivo, “Centivo raises $51 million,” September 2021. https://centivo.com/centivo-raises-51-million-as-more-employers-seek-affordable-quality-healthcare-for-their-employees/↩↩↩
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JPMorgan Chase, “Morgan Health Announces New Investment in Centivo,” July 2022. https://www.jpmorganchase.com/newsroom/press-releases/2022/new-investment-in-centivo↩↩↩↩
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Business Wire, “Centivo Raises $75 Million to Fix America’s Broken Healthcare Model,” September 2024. https://www.businesswire.com/news/home/20240924454675/en/Centivo-Raises-$75-Million-to-Fix-Americas-Broken-Healthcare-Model↩↩