Devoted Health
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Investors
Founders
About
Devoted Health is a Medicare Advantage insurance company founded in March 2017 by brothers Todd Park and Ed Park 12. Todd Park previously co-founded Athenahealth and Castlight Health and served as U.S. Chief Technology Officer during the Obama administration; Ed Park held senior positions at Athenahealth 23. The company is headquartered in Waltham, Massachusetts 1.
Devoted Health offers Medicare Advantage plans with integrated health insurance, virtual-first medical care, and personalized member support 4. The company launched its first plan in Florida in October 2018 3 and expanded to 299 counties across 13 states by the 2023 enrollment period 8. As of July 2024, Devoted served approximately 227,000 members across its markets 7. The company achieved a 4.5 CMS star rating in its inaugural year of eligibility 2.
Funding History
| Date | Round | Amount | Lead | Co-investors | Source |
|---|---|---|---|---|---|
| Mar 2017 | Seed | $7M | Venrock | — | 1 |
| Oct 2017 | Series A | $62M | Oak HC/FT | Venrock, F-Prime Capital Partners, Maverick Ventures, Obvious Ventures | 15 |
| Oct 2018 | Series B | $300M | Andreessen Horowitz | Premji Invest, Uprising | 3 |
| Apr 2020 | Series C | $450M | Undisclosed | — | 6 |
| Oct 2021 | Series D | $1.2B | SoftBank Vision Fund 2, Uprising | GIC, Andreessen Horowitz, Premji Invest, Maverick, Frist Cressey Ventures, NextView Ventures, ICONIQ Growth, General Catalyst, Base10, Emerson Collective | 2 |
| Dec 2023 | Series E | $175M | Lead syndicate (TSB, Highbury, GIC, Stardust Equity, Maverick Ventures, Fearless Ventures) | Andreessen Horowitz, General Catalyst, GreatPoint Ventures, Socium Ventures, Emerson Collective, F-Prime Capital Partners | 78 |
| Aug 2024 | Series E (extension) | $112M | The Space Between (TSB) | Cox Enterprises, White Road Capital | 4 |
Total raised: approximately $2.3B at a valuation of ~$13B 17.
What Investors Say
No independently sourced investor quotes found.
What Founders Say
No independently sourced founder quotes found.
Sources
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TexAu, “How Much Did Devoted Health Raise? Funding & Key Investors,” accessed March 2026. https://www.texau.com/profiles/devoted-health↩↩↩↩↩
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MobiHealthNews, “Medicare Advantage startup Devoted Health rakes in $1.15 billion in Series D funding,” October 2021. https://www.mobihealthnews.com/news/medicare-advantage-startup-devoted-health-rakes-115-billion-series-d-funding↩↩↩↩
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TechCrunch, “With $300M in new funding, Devoted Health launches its Medicare Advantage plan in Florida,” October 2018. https://techcrunch.com/2018/10/16/with-300m-in-new-funding-devoted-health-launches-its-medicare-advantage-plan-in-florida/↩↩↩
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Fenwick, “Fenwick Represents Devoted Health in Additional $112M Series E Funding,” August 2024. https://www.fenwick.com/insights/experience/fenwick-represents-devoted-health-in-additional-series-e-funding↩↩
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Crunchbase, “Series A - Devoted Health - 2017-10-20,” accessed March 2026. https://www.crunchbase.com/funding_round/devoted-health-series-a–14374be8↩
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Crunchbase, “Series C - Devoted Health - 2020-04-02,” accessed March 2026. https://www.crunchbase.com/funding_round/devoted-health-series-c–91f22429↩
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Biotech Networks, “Exclusive: Devoted Health raises $112M, plots insurance markets expansion,” August 2024. https://biotechnetworks.org/2024/08/02/exclusive-devoted-health-raises-112m-plots-insurance-markets-expansion/↩↩↩
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Insurtech Insights, “Insurtech Devoted Health Raises US$175 Million in Series E Round,” December 2023. https://www.insurtechinsights.com/insurtech-devoted-health-raises-us175-million-in-series-e-round/↩↩