Total amount raised
$110 Millions
Latest funding date
Location
Nomi Health has successfully raised funds through a Series A round, attracting notable investors such as Arbor Ventures and Rose Park Advisors. The company is dedicated to reducing healthcare costs for employers and patients through its integrated solutions.
Keep reading to explore the intricacies of Nomi Health's fundraising journey and the investors backing this innovative platform.
What Is Nomi Health?
Nomi Health, founded in 2019, is a direct health company headquartered in Orem, Utah. The company was established by Boe Hartman, Joshua Walker, and Mark Newman. It operates within the finance, healthcare, insurance, and mHealth industries.
With an employee count ranging from 501 to 1000, Nomi Health aims to reduce healthcare costs for employers and patients. The company offers a variety of services, including a direct network for medical services, pharmacy benefit management, high-cost drug solutions, real-time payments, claims and billing, analytics, and care programs.
How Much Funding Has Nomi Health Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundation and initial operations.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure early-stage funding for product development and market entry.
- Series A
- Amount Raised: $110 million
- Date: December 2021
- Lead Investors: Arbor Ventures, Rose Park Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance growth through platform development, new offerings, and partnerships with local governments and private sectors.
Total Amount Raised: $110 million. Current Valuation: Not publicly disclosed.
Key Investors
- Arbor Ventures
- Details: Arbor Ventures is a global venture capital firm that invests in early-stage companies. The firm is known for its focus on financial technology and digital economy sectors.
- Investment Focus Areas: Financial technology, digital economy, transformative technologies
- Notable Investments: Not publicly disclosed
- Rose Park Advisors
- Details: Rose Park Advisors is an investment firm associated with the late Harvard Business School professor Clayton Christensen. The firm focuses on identifying and investing in disruptive innovations.
- Investment Focus Areas: Disruptive innovations across various industries
- Notable Investments: Not publicly disclosed
What's Next for Nomi Health?
Nomi Health is poised for significant growth, leveraging its $110 million Series A funding to expand its platform and services. The company aims to serve 100,000 patients daily within the next two years, focusing on mobile care units and pop-up clinics to reach underserved areas. This expansion presents a substantial opportunity to transform healthcare delivery and reduce costs for organizations.
Future fundraising efforts are likely as Nomi Health continues to scale. The involvement of prominent investors like Rose Park Advisors and Arbor Ventures suggests potential for additional rounds of funding and strategic partnerships. However, the company may face challenges such as regulatory compliance, competition from other healthcare providers, and maintaining service quality across numerous locations.
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