Digital insurance company raises $175M

Devoted Health, a technology-focused insurance company for Medicare beneficiaries, raised $175 million in series E financing.

The company’s offerings combine Medicare Advantage plans with virtual and at-home care. The new funding round comes after the company saw more than 70% year-over-year membership growth, according to a Dec. 29 Devoted Health news release.

A syndicate of The Space Between, Highbury Holdings, GIC, Stardust Equity, Maverick Ventures, and Fearless Ventures led the funding round.

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