About Devoted Health
Devoted Health is a company based in Eagan (United States) founded in 2017 by Todd Park and Ed Park.. Devoted Health has raised $2.26 billion across 7 funding rounds from investors including SoftBank Vision Fund, Premji Invest and Cox Enterprises. The company has 1,841 employees as of December 31, 2022. Devoted Health offers products and services including Medicare Advantage Plan, Food and Home Card, and Dental and Eyewear Coverage.
- Headquarter Eagan, United States
- Employees 1841 as on 31 Dec, 2022
- Founders Todd Park, Ed Park
- Stage Decacorn
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Sectors
HealthcareFinancial Services
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$2.26 B (USD)
in 7 rounds
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Latest Funding Round
$112 M (USD), Series E
Aug 02, 2024
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Investors
SoftBank Vision Fund
& 24 more
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Employee Count
1841
as on Dec 31, 2022
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Products & Services of Devoted Health
Devoted Health offers a comprehensive portfolio of products and services, including Medicare Advantage Plan, Food and Home Card, and Dental and Eyewear Coverage. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Comprehensive coverage for seniors including medical and wellness benefits
Allowance for food and home items for eligible chronic illness members
Dental exams and eyewear options with low copays for members
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Software Development Team
60 people
Leadership Team
53 people
Operations Team
32 people
Sales and Marketing
31 people
Senior Team
22 people
Product Management Team
19 people
Finance and Accounting
16 people
Provider Team
15 people
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Funding Insights of Devoted Health
Devoted Health has successfully raised a total of $2.26B across 7 strategic funding rounds. The most recent funding activity was a Series E round of $112 million completed in August 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Series E — $112.0M
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First Round
First Round
(22 Aug 2017)
- Investors Count 25
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2024 | Amount | Series E - Devoted Health | Valuation | Cox Enterprises , White Road Investments |
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| Dec, 2023 | Amount | Series E - Devoted Health | Valuation | GIC , Highbury Group | |
| Oct, 2021 | Amount | Series D - Devoted Health | Valuation | SoftBank Vision Fund , Uprising Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Devoted Health
Devoted Health has secured backing from 25 investors, including institutional and venture fund investors. Prominent investors backing the company include SoftBank Vision Fund, Premji Invest and Cox Enterprises. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage healthtech startups are invested in by White Road Investments.
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Founded Year | Domain | Location | |
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Sovereign wealth is managed and private equity investments are facilitated.
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Founded Year | Domain | Location | |
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Early-stage tech and life-sciences firms are funded across the US.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Devoted Health
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Devoted Health
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Devoted Health Comparisons
Competitors of Devoted Health
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Devoted Health
Frequently Asked Questions about Devoted Health
When was Devoted Health founded?
Devoted Health was founded in 2017.
Where is Devoted Health located?
Devoted Health is headquartered in Eagan, United States. It is registered at Eagan, Minnesota, United States.
Who is the current CEO of Devoted Health?
Ed Park is the current CEO of Devoted Health. They have also founded this company.
Is Devoted Health a funded company?
Devoted Health is a funded company, having raised a total of $2.26B across 7 funding rounds to date. The company's 1st funding round was a Series D of $1.15B, raised on Aug 22, 2017.
How many employees does Devoted Health have?
As of Dec 31, 2022, the latest employee count at Devoted Health is 1,841.
What does Devoted Health do?
Devoted Health was founded in 2017 and is headquartered in Eagan, United States. Medicare Advantage plans are offered to individuals, with coverage for doctor visits, hospital treatments, dental care, vision protection, and over-the-counter allowances. Additional benefits include dental services and savings on healthcare items. An insurance comparison guide is also provided to assist users in selecting plans within the healthcare insurance sector.
What products or services does Devoted Health offer?
Devoted Health offers Medicare Advantage Plan, Food and Home Card, and Dental and Eyewear Coverage.
Who are Devoted Health's investors?
Devoted Health has 25 investors. Key investors include SoftBank Vision Fund, Premji Invest, Cox Enterprises, White Road Investments, and GIC.
What is Devoted Health's valuation?
The valuation of Devoted Health is $12.6B as of Oct 2021.
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