Devoted Health Eyes $25 Billion Valuation in New Funding Round

The Waltham-based company, founded in 2017 by Ed and Todd Park, currently leverages its proprietary Orinoco AI platform to manage medical coordination for its members. Having achieved a $16 billion valuation earlier this year, the potential jump to $25 billion signals profound confidence from backers in the firm’s ability to scale rapidly within the competitive Medicare Advantage landscape. The startup’s growth trajectory remains aggressive, with membership reaching 466,000 individuals as of January 2026—a 121% increase over the previous year.

While a company spokesperson declined to comment on the fundraising, the potential deal highlights the broader shift toward private entities capturing federal healthcare spending. Devoted Health operates as a hybrid insurer and provider, a model that has drawn support from heavyweights like Andreessen Horowitz, Venrock, and General Catalyst. As Medicare Advantage continues its expansion, the company faces an increasingly crowded field of incumbents and venture-backed challengers vying for dominance in the sector.