Funding round
Devoted Health Series E
Devoted Health, which works in medicare advantage plan design and management in Eagan, raised $175M in a Series E round announced on 29 Dec 2023, led by The Space Between (TSB), Highbury Group, GIC, Stardust, Maverick Ventures and Fearless Ventures, at a $12.87B post-money valuation. 23 firms took part. It is Devoted Health's sixth venture round on record; the one before was a Series D in Oct 2021.
$175M
Amount raised
$12.87B
Post-money valuation
$12.70B pre-money
23
Investors
6 leads
1.0x
Step-up from the Series D
$12.70B in Oct 2021
1.4%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Devoted Health at $12.87B after the new money, 1.0 times the $12.70B of its Series D (Oct 2021). The $175M bought investors about 1.4% of the company. It came 26 months after Devoted Health's Series D. It is 8.1% of the $2.17B Devoted Health has raised in the venture rounds on record. Devoted Health raised again 23 months later: a Series F round of $48M in Nov 2025, at $13.27B 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 1 Jul 2020, led by Uprising $380M
- Series D 8 Oct 2021 $1.20B$12.70B post-money
- Series E this round 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
The Space Between (TSB), Highbury Group, GIC, Stardust, Maverick Ventures and Fearless Ventures led the round with 17 other firms.
Lead investors
- The Space Between (TSB) new investor
- backs 3 venture-backed companies new investor
- GIC backs 98 venture-backed companies new investor
- backs 5 venture-backed companies new investor
- Maverick Ventures new investor
- backs 2 venture-backed companies new investor
Also in the round
- backs 13 venture-backed companies new investor
- Emerson Collective backs 76 venture-backed companies new investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
- backs 9 venture-backed companies new investor
- backs 118 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies new investor
- backs 58 venture-backed companies new investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- Uprising Capital new investor
- backs 24 venture-backed companies new investor
- backs 91 venture-backed companies new investor
- backs 108 venture-backed companies new investor
- Premji Invest backs 50 venture-backed companies new investor
- Iconiq Capital new investor
- backs 3 venture-backed companies new investor
- backs 77 venture-backed companies new investor
- Stardust
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion and scaling operations.
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
The closest in time: 2 in Insurance - Agents, Carriers & Brokers, then Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Insurance - Agents, Carriers & Brokers | 15 May 2024 | $80M | not disclosed | Spark Capital |
| Insurance - Agents, Carriers & Brokers | 14 May 2024 | $15M | not disclosed | Canaan and New Leaf Venture Partners |
| Udaan Groceries | 14 Dec 2023 | $340M | not disclosed | M&G |
| Travel Agencies | 7 Dec 2023 | $210M | not disclosed | Bessemer Venture Partners |
| VAST Data Software Development Services | 6 Dec 2023 | $118M | $9.10B | Fidelity Management & Research Company |
| Pharmaceutical Products | 21 Dec 2023 | $101M | $251M | Sarissa Capital |
| Medical Supply Manufacturers | 31 Dec 2023 | $85M | not disclosed | Novo Holdings |
| Loans & Financing | 6 Dec 2023 | $10M | not disclosed | Encourage Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Devoted Health raise in its Series E round?
Devoted Health raised $175M in its Series E round, announced in Dec 2023.
Who led Devoted Health's Series E round?
The Space Between (TSB), Highbury Group, GIC, Stardust, Maverick Ventures and Fearless Ventures led it, with Socium Ventures, Emerson Collective, Andreessen Horowitz, The Private Shares Fund and F-Prime Capital and 12 more.
What was Devoted Health's valuation at the Series E round?
$12.87B post-money ($12.70B pre-money).
Did Devoted Health raise again after this round?
Yes: a Series F round in Nov 2025 of $48M at $13.27B post-money.