Total amount raised
$75.1 Millions
Latest funding date
Location
Stellar Health has successfully raised significant funding through multiple rounds, including a Series B that closed on September 28, 2021. The company is backed by seven investors, including Geoff Price and Primary Venture Partners.
Stellar Health's platform empowers providers and practice staff to deliver high-quality care through real-time notifications and meaningful incentives. Keep reading to explore the intricacies of Stellar Health's fundraising journey and the investors backing this innovative platform.
What Is Stellar Health?
Stellar Health, founded in 2018, is a healthcare technology company based in New York, New York. The company operates within the apps, healthcare, and software industries. It was established by Ari Brenner, Ben Kraus, Michael Meng, and Octavian Costache.
With an employee count ranging from 101 to 250, Stellar Health focuses on enabling success in value-based care. The company partners with payors, health systems, networks, and practicing physicians to develop tailored incentive programs that reward the completion of value-based care actions.
The Stellar Health platform includes a web-based application, real-time payments, business intelligence and analytics, and a provider performance team to support practice adoption and performance improvement. The company has a significant footprint across 37+ states, managing over 1.1 million lives and working with 16,000+ providers and 2,100 medical groups.
How Much Funding Has Stellar Health Raised?
- Seed Round
- Amount Raised: $4.9M
- Date: May 30, 2019
- Lead Investors: Primary Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundational operations and early-stage growth.
- Series A
- Amount Raised: $10.2M
- Date: May 12, 2020
- Lead Investors: Point72 Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the company's platform and operations.
- Series B
- Amount Raised: $60M
- Date: Sep 28, 2021
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the team, advance product development, and expand into new and existing markets.
Total Amount Raised: $75.1M. Current Valuation: Not publicly disclosed.
Key Investors
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm with over four decades of experience. They provide capital and strategic support to growth companies.
- Investment Focus Areas: Technology, healthcare, financial services, consumer.
- Notable Investments: Airbnb, Uber, Slack.
- Point72 Ventures
- Details: Point72 Ventures is the venture capital arm of Point72 Asset Management. They invest in early-stage technology companies.
- Investment Focus Areas: Fintech, artificial intelligence, enterprise technology.
- Notable Investments: Extend, Insurify, Measured.
- Primary Venture Partners
- Details: Primary Venture Partners is a venture capital firm focused on early-stage investments. They are particularly active in the technology sector.
- Investment Focus Areas: Technology, consumer companies, New York City-based startups.
- Notable Investments: Latch, Chief, Mirror.
- Mike Pykosz
- Details: Mike Pykosz is the co-founder of Oak Street Health, a network of value-based primary care centers for adults on Medicare. He is involved in the strategic direction and growth of the company.
- Investment Focus Areas: Healthcare, value-based care, primary care innovations.
- Notable Investments: Oak Street Health.
- Geoff Price
- Details: Geoff Price is the co-founder of Oak Street Health. He plays a significant role in the strategic direction and growth of the company.
- Investment Focus Areas: Healthcare, value-based care, primary care innovations.
- Notable Investments: Oak Street Health.
What's Next for Stellar Health?
Stellar Health stands at the cusp of significant growth opportunities. With over $60 million raised in Series B funding, the company is poised to expand its team, advance product development, and broaden its market reach. The healthcare industry’s shift towards value-based care presents a fertile ground for Stellar Health to enhance provider engagement and improve patient outcomes.
Future fundraising seems promising, given the involvement of high-profile investors and the company's robust growth trajectory. As Stellar Health scales, it may face challenges such as maintaining high user engagement and overcoming economic barriers in value-based care. However, the potential for strategic acquisitions and additional funding rounds could further bolster its market position.
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