Devoted Health in talks at $25B, up from $16B months ago
TL;DR
- Devoted Health is in talks to raise a new round at a $25 billion valuation, up from $16 billion earlier this year, per Business Insider.
- Medicare Advantage membership reached 466,000 across 29 states as of January 2026, a 121% year-over-year jump.
- Investor enthusiasm is driven by the proprietary Orinoco AI platform and growth in government-funded Medicare Advantage revenue.
Devoted Health is in talks to raise a new round at a $25 billion valuation, "up from $16 billion in a round raised earlier this year," Business Insider reported. The Waltham, Massachusetts insurer served more than 466,000 Medicare Advantage members across 29 states as of January 2026, a 121% year-over-year increase.
The pitch to investors centers on Orinoco, the company's proprietary AI platform used to coordinate care for members. The retrieved reporting attributes investor enthusiasm to Orinoco and to rapid growth in government-funded Medicare Advantage revenue. Existing backers, per PitchBook, include Andreessen Horowitz, General Catalyst, Iconiq and Emerson Collective.
Devoted was founded in 2017 by brothers Ed and Todd Park. "Ed Park served as chief operating officer of athenahealth, while Todd Park was chief technology officer of the United States" during the Obama administration.
The talks come on the heels of a $48 million Series F in November 2025 and a $317 million Series F-Prime in January 2026, and land inside a busy run of funding coverage on our tracker this month, which has also included Anthropic's pre-IPO revolver climbing past $10 billion. Neither the reporting nor the search results name the lead investor or say how much of the round is primary capital.
Originally reported by businessinsider.com
Read the original article →Original headline: Devoted Health In Talks to Raise New Round at $25B Valuation, AI Care-Coordination Startup Adds ~56%