Funding round
Devoted Health Series A
Devoted Health, which works in medicare advantage plan design and management in Eagan, raised $62M in a Series A round announced on 6 Oct 2017, led by Andreessen Horowitz. 7 firms took part. It is Devoted Health's second venture round on record; the one before was a Seed in Aug 2017.
$62M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Devoted Health did not disclose a valuation in this round. It came 2 months after Devoted Health's Seed. It is 2.9% of the $2.17B Devoted Health has raised in the venture rounds on record. Devoted Health raised again 12 months later: a Series B round of $300M in Oct 2018. Its next priced round, a Series D in Oct 2021, valued it at $12.70B.
Devoted Health's funding rounds
Devoted Health has 7 venture rounds on record. This one is highlighted.
- Seed 22 Aug 2017, led by Venrock $7.0M
- Series A this round 6 Oct 2017, led by Andreessen Horowitz $62M
- Series B 16 Oct 2018, led by Andreessen Horowitz $300M
- Series C 1 Jul 2020, led by Uprising $380M
- Series D 8 Oct 2021 $1.20B$12.70B post-money
- Series E 29 Dec 2023, led by The Space Between (TSB), Highbury Group and GIC $175M$12.87B post-money
- Series F 1 Nov 2025, led by Centricus $48M$13.27B post-money
Investors
Who put money in
Andreessen Horowitz led the round with 6 other firms.
Lead investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
Also in the round
- backs 77 venture-backed companies new investor
- backs 118 venture-backed companies new investor
- Maverick Ventures new investor
- Cox Enterprises new investor
- backs 6 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
19 Series A rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $10M, and this round was 6.2 times the median. The closest in time, other companies' Series A rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Insurance - Agents, Carriers & Brokers | 10 Nov 2017 | $12M | not disclosed | White Star Capital and Alven |
| Insurance - Agents, Carriers & Brokers | 20 Nov 2017 | $7.9M | not disclosed | Balderton Capital |
| Insurance - Agents, Carriers & Brokers | 11 Jan 2018 | $9.0M | not disclosed | Founders Fund |
| Coalition Insurance - Agents, Carriers & Brokers | 28 Feb 2018 | $10M | not disclosed | not named |
| Insurance - Agents, Carriers & Brokers | 21 Feb 2018 | $9.5M | not disclosed | Canvas Prime |
| Insurance - Agents, Carriers & Brokers | 3 May 2017 | $29M | not disclosed | Munich Re/HSB Ventures |
| Insurance - Agents, Carriers & Brokers | 11 May 2017 | $6.0M | not disclosed | Omidyar Network |
| Alan Insurance - Agents, Carriers & Brokers | 10 Apr 2018 | $28M | not disclosed | Index Ventures |
Questions
Frequently asked
How much did Devoted Health raise in its Series A round?
Devoted Health raised $62M in its Series A round, announced in Oct 2017.
Who led Devoted Health's Series A round?
Andreessen Horowitz led it, with Obvious, F-Prime Capital, Maverick Ventures, Cox Enterprises and White Road Investments and 1 more.
What was Devoted Health's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Insurance - Agents, Carriers & Brokers?
19 Series A rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $10M, and this round was 6.2 times the median.
Did Devoted Health raise again after this round?
Yes: a Series B round in Oct 2018 of $300M.