Total amount raised
$677.9 Millions
Latest funding date
6/1/2023
Location
Aledade has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company focuses on improving patient outcomes and generating sustainable revenue for primary care practices through value-based care.
Keep reading to explore the intricacies of Aledade's fundraising journey and the investors backing this innovative platform.
What Is Aledade?
Aledade, founded in 2014, is headquartered in Bethesda, Maryland. The company was established by Edwin Miller, Farzad Mostashari, and Mat Kendall.
Specializing in value-based care, Aledade partners with independent primary care physicians to create and manage Accountable Care Organizations (ACOs). Their services include business transformation, upfront capital, and a robust technology platform.
With a workforce of 1001-5000 employees, Aledade aims to improve patient outcomes and ensure sustainable revenue for primary care practices.
How Much Funding Has Aledade Raised?
- Series A
- Amount Raised: $4.5M
- Date: June 2014
- Lead Investors: Venrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial technology platform.
- Series B
- Amount Raised: $30M
- Date: June 2015
- Lead Investors: ARCH Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's network of primary care practices and enhance its technology.
- Series B
- Amount Raised: $40.2M
- Date: March 2017
- Lead Investors: Biomatics Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and improve service offerings.
- Series C
- Amount Raised: $46.1M
- Date: December 2017
- Lead Investors: Biomatics Capital Partners, Venrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and support for partner practices.
- Corporate Round
- Amount Raised: $10M
- Date: January 2019
- Lead Investors: Echo Health Ventures, Mosaic Health Solutions
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives and partnerships.
- Series C
- Amount Raised: $64M
- Date: April 2020
- Lead Investors: OMERS Growth Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's reach and improve patient outcomes.
- Series D
- Amount Raised: $100M
- Date: January 2021
- Lead Investors: Meritech Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance technology infrastructure.
- Series E
- Amount Raised: $123M
- Date: June 2022
- Lead Investors: OMERS Growth Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand service offerings.
- Series F
- Amount Raised: $260M
- Date: June 2023
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: $3.5 billion
- Motivation Behind the Round: To expand the primary care network and enhance technology and support for partner practices.
Total Amount Raised: $677.8M. Current Valuation: $3.5 billion.
Key Investors
- Lightspeed Venture Partners
- Details: A leading venture capital firm that invests in the enterprise, consumer, and health sectors.
- Investment Focus Areas: Enterprise, consumer, health sectors.
- Notable Investments: Snapchat, Affirm, MuleSoft.
- Venrock
- Details: Originally established as the venture arm of the Rockefeller family, Venrock focuses on early-stage and growth investments.
- Investment Focus Areas: Technology, healthcare, energy.
- Notable Investments: Apple, Intel, Gilead Sciences.
- Avidity Partners
- Details: An investment firm focused on healthcare, investing in both public and private companies.
- Investment Focus Areas: Healthcare.
- Notable Investments: Not specified.
- OMERS Growth Equity
- Details: The growth equity investment arm of OMERS, one of Canada’s largest defined benefit pension plans.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Not specified.
- Fidelity Management & Research Company
- Details: An American multinational financial services corporation, part of Fidelity Investments.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Not specified.
What's Next for Aledade?
With $260 million in Series F funding, Aledade is poised to enhance its technology and expand its primary care network. The company aims to form strategic alliances with health plans and grow its Medicare Advantage business, leveraging its network of over 1,500 practices covering more than two million patients.
Future fundraising opportunities are likely as Aledade continues to demonstrate success in value-based care. However, challenges such as integrating new technologies, managing rapid growth, and navigating regulatory changes could pose hurdles. Despite these challenges, Aledade's focus on improving patient outcomes and reducing healthcare costs positions it well for continued growth and potential acquisitions.
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