Funding round
Devoted Health Series C
Devoted Health, which works in medicare advantage plan design and management in Eagan, raised $380M in a Series C round announced on 1 Jul 2020, led by Uprising. 6 firms took part. It is Devoted Health's fourth venture round on record; the one before was a Series B in Oct 2018.
$380M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Devoted Health did not disclose a valuation in this round. It came 21 months after Devoted Health's Series B. It is 17% of the $2.17B Devoted Health has raised in the venture rounds on record. Devoted Health raised again 15 months later: a Series D round of $1.20B in Oct 2021, at $12.70B post-money.
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 6 Oct 2017, led by Andreessen Horowitz $62M
- Series B 16 Oct 2018, led by Andreessen Horowitz $300M
- Series C this round 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
Uprising led the round with 5 other firms.
Lead investor
- Uprising new investor
Also in the round
- backs 37 venture-backed companies new investor
- backs 8 venture-backed companies new investor
- Hamish Baillieu new investor
- new investor
- backs 5 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
16 Series C rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $87M, and this round was 4.4 times the median. The closest in time, other companies' Series C rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Coalition Insurance - Agents, Carriers & Brokers | 20 May 2020 | $90M | $890M | Valor |
| Alan Insurance - Agents, Carriers & Brokers | 20 Apr 2020 | $54M | not disclosed | Temasek |
| Insurance - Agents, Carriers & Brokers | 3 Mar 2020 | $38M | not disclosed | Brewer Lane Ventures |
| Insurance - Agents, Carriers & Brokers | 18 Mar 2020 | $25M | not disclosed | Susquehanna International Group and Huaxing New Economic Fund |
| Insurance - Agents, Carriers & Brokers | 5 Feb 2020 | $39M | not disclosed | Accel |
| Insurance - Agents, Carriers & Brokers | 8 Dec 2020 | $34M | not disclosed | Qumra Capital |
| Insurance - Agents, Carriers & Brokers | 26 Jan 2021 | $125M | $1.00B | Drive Capital |
| Insurance - Agents, Carriers & Brokers | 12 Jan 2021 | $84M | not disclosed | Tencent |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Devoted Health raise in its Series C round?
Devoted Health raised $380M in its Series C round, announced in Jul 2020.
Who led Devoted Health's Series C round?
Uprising led it, with Motley Fool Ventures, Green Sands Equity, Hamish Baillieu, ARTFO Holdings and For Good Ventures.
What was Devoted Health's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Insurance - Agents, Carriers & Brokers?
16 Series C rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $87M, and this round was 4.4 times the median.
Did Devoted Health raise again after this round?
Yes: a Series D round in Oct 2021 of $1.20B at $12.70B post-money.