Devoted Health Announces New Funding to Fuel Further Growth

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WALTHAM, MA, October 1, 2026 - Devoted Health (Devoted) - an integrated healthcare company redefining how healthcare is experienced and delivered - today announced that it closed on $555 million of Series G primary funding as part of a $1.18 billion primary and secondary financing.

The round was led by Advent, and co-led by Temasek, joined by: The Space Between, both independently and alongside Centricus; GIC; Franklin Templeton; Generation; VZVC; Emerson Collective; Premji Invest; and Andreessen Horowitz. Devoted will use the Series G proceeds to support continued rapid growth as the company works to bring its vision of healthcare to many more people. In addition, these investors committed $622 million for a shareholder tender offer expected to close later in the fourth quarter.

"In a healthcare system that is often too impersonal and hard to understand, we believe that people deserve something different: a healthcare partner which is profoundly committed to their health and well-being and truly cares for them like family," said Todd Park, Executive Chairman and Co-Founder of Devoted. "It is a great honor to team up with such remarkable investors to deliver on this vision and mission."

In addition, as part of the upcoming Medicare Annual Enrollment Period, Devoted announced that it is expanding to care for Medicare beneficiaries in 342 new counties and five new states: Connecticut, Michigan, New Hampshire, New Jersey, and New York.

With this expansion, Devoted will be able to serve those eligible for Medicare in 1,341 counties across 34 states in 2027. Already this year, Devoted's membership has grown from 212,000 members in December 2025 to 538,000 members as of September 2026.

"We started Devoted because we fundamentally believed that people wanted and needed a new approach to healthcare built on dramatically better service and care and giving people a trusted partner to help them live their best lives," said Ed Park, Devoted's CEO and Co-Founder. "To be able to bring this solution to many more people across the country is deeply exciting, and we are hugely looking forward to the path ahead."

Devoted is redefining healthcare delivery with an integrated platform that brings together advanced data and AI with world-class clinical and service excellence. For instance, members seen by Devoted Medical, Devoted's in-house, virtual-first medical group, get the preventive and chronic care they need: for example, 90 percent complete colorectal cancer screening, 86 percent complete breast cancer screening, and 87 percent have their blood pressure under control. Members who complete Devoted's virtual hypertension program lower their systolic blood pressure by an average of 24 mmHg in under 40 days, and members who complete its diabetes program lower their A1c by an average of 2.1 points in 101 days, with 81 percent still in control a year later. That care earns remarkable levels of member trust: 98 percent of members seen by Devoted Medical say that they trust Devoted to keep its promise to get them the care they need.

In 2025, Devoted Health was named to Fortune's Best Workplaces in Health Care list and the magazine's Best Workplaces for Women list, and Forbes named Devoted one of America's Best Start-Up Employers. Earlier this year, Devoted was honored as one of Fast Company's Best Workplaces for Innovators.

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About Devoted Health

Founded in 2017, Devoted Health's mission is to dramatically improve health and well-being by caring for everyone like they are family. Through an integrated care platform that brings together advanced data and AI with world-class clinical and service excellence, Devoted is redefining how healthcare is experienced and delivered. Devoted's unique solution combines its proprietary technology and AI platform, Devoted Medical clinical services, Devoted health plans, and dedicated service Guides to deliver proactive, personalized, prevention-focused healthcare consistently and at scale. Built on the belief that informed, supported members can actively shape their own health for the better, Devoted's care model builds deep trust with members and partners with them to significantly improve care and health outcomes. Currently operating in the Medicare Advantage market, Devoted's platform is purpose-built to expand to serve broader healthcare markets over time. Learn more at https://www.devoted.com.