Devoted Health’s $25 Billion Funding Talks Put Medicare Advantage and AI in Focus

Devoted Health is in talks to raise a new funding round that could value the company at $25 billion, according to sources cited by Business Insider. The reported valuation would be a rise from the company’s $16 billion valuation in a funding round raised earlier this year. A company spokesperson said, “We do not comment on our capital raising activity.”

The fundraising talks reflect investor enthusiasm for healthcare companies using AI to improve patient care and the economics of medicine. Devoted’s proprietary AI tool, Orinoco, helps coordinate medical care for members. The company sits at the intersection of insurance, medical care, and technology, which makes its scale and execution central to the story.

Devoted Health serves elderly people enrolled in Medicare Advantage, the private alternative to traditional Medicare for people 65 and older and people with disabilities. Business Insider describes Medicare Advantage as one of healthcare’s largest and fastest-growing markets, with enrollment more than doubling over the past decade. That growth has drawn incumbent insurers and venture-backed startups seeking to compete in a market supported by federal spending.

Devoted Health is based in Waltham, Massachusetts, and was founded in 2017 by brothers and former healthcare executives Ed and Todd Park. Ed Park was previously COO of athenahealth, while Todd Park was chief technology officer of the United States in the Obama administration. Devoted had 466,000 members as of January 2026, up 121% year over year, and its investors include Andreessen Horowitz, Venrock, General Catalyst, Iconiq, and Emerson Collective, according to PitchBook.