About Pelago
Pelago is a company based in New York (United States) founded in 2014 by Yusuf Sherwani, Sheeraz Iqbal, Sarim Siddiqui, and Maroof Ahmed. It operates as a HealthTech, and Subscription Services. Pelago has raised $135.53 million across 7 funding rounds from investors including Merck, Syndicate Room and Triple Point. Pelago offers products and services including Substance Use Management, Alcohol Use Care, Tobacco Use Care, Opioid Use Care, and Cannabis Use Care. Pelago operates in a competitive market with competitors including Bicycle Health, Boulder Care, Monument, Workit Health and DynamiCare Health, among others.
- Headquarter New York, United States
- Founders Yusuf Sherwani, Sheeraz Iqbal, Sarim Siddiqui, Maroof Ahmed
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Sectors
TechnologyHealthcare
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Email
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Phone
*********
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Website
*********
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Social
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- Legal Name Pelago
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$135.53 M (USD)
in 7 rounds
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Latest Funding Round
$58 M (USD), Series C
Dec 21, 2023
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Investors
Merck
& 36 more
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Employee Count
Employee Count
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Products & Services of Pelago
Pelago offers a comprehensive portfolio of products and services, including Substance Use Management, Alcohol Use Care, Tobacco Use Care, Opioid Use Care, and Cannabis Use Care. 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.
Personalized care for managing substance use is provided.
Support for reducing alcohol use is offered effectively.
Assistance in quitting tobacco use is delivered consistently.
Care for achieving opioid abstinence is provided expertly.
Management of cannabis use issues is supported thoroughly.
Funding Insights of Pelago
Pelago has successfully raised a total of $135.53M across 7 strategic funding rounds. The most recent funding activity was a Series C round of $58 million completed in December 2023. 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 C — $58.0M
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First Round
First Round
(12 Feb 2018)
- Investors Count 37
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2023 | Amount | Series C - Pelago | Valuation | Atomico | |
| Jul, 2021 | Amount | Series B - Pelago | Valuation | Kinnevik , Atomico | |
| Mar, 2020 | Amount | Series A - Pelago | Valuation | Octopus Ventures |
| 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 Pelago
Pelago has secured backing from 37 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Merck, Syndicate Room and Triple Point. 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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Tech-based companies are invested in by Atomico venture capital fund.
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Founded Year | Domain | Location | |
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Venture capital investments are directed toward multiple sectors by Kinnevik.
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Founded Year | Domain | Location | |
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Venture capital investment and support for founders in technology and health sectors.
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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 Pelago
| 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 - Pelago
| 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 |
Pelago Comparisons
Competitors of Pelago
Pelago operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Bicycle Health, Boulder Care, Monument, Workit Health and DynamiCare Health, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
An online platform is provided for deaddiction doctor consultations.
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| domain | founded_year | HQ Location |
Telehealth-based treatment for substance use disorders is provided.
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| domain | founded_year | HQ Location |
SaaS telehealth platform for de-addiction support is provided.
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| domain | founded_year | HQ Location |
Provider of an app for sobriety management
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| domain | founded_year | HQ Location |
Digital therapeutics for substance use recovery are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Pelago
Frequently Asked Questions about Pelago
When was Pelago founded?
Pelago was founded in 2014 and raised its 1st funding round 4 years after it was founded.
Where is Pelago located?
Pelago is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Pelago?
Yusuf Sherwani is the current CEO of Pelago. They have also founded this company.
Is Pelago a funded company?
Pelago is a funded company, having raised a total of $135.53M across 7 funding rounds to date. The company's 1st funding round was a Series A of $11M, raised on Feb 12, 2018.
What does Pelago do?
Pelago is established as a virtual clinic specializing in personalized substance use management. Services are provided for individuals seeking to manage or cease use of alcohol, tobacco, opioids, and cannabis. The approach is tailored based on individual health, habits, and goals, supported by physician-led care teams and evidence-based solutions. Sectors served include employers and health plans, with a focus on reducing healthcare costs and improving workforce productivity. Additional support is offered through remote monitoring, cognitive behavioral therapy, and medication-assisted treatment via PelagoRX. Access to high-quality inpatient facilities is coordinated for complex cases.
Who are the top competitors of Pelago?
Pelago's top competitors include Bicycle Health, Workit Health and Boulder Care.
What products or services does Pelago offer?
Pelago offers Substance Use Management, Alcohol Use Care, Tobacco Use Care, Opioid Use Care, and Cannabis Use Care.
Who are Pelago's investors?
Pelago has 37 investors. Key investors include Merck, Syndicate Room, Triple Point, Atomico, and Kinnevik.