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Report: Health insurance startup's valuation hits $1.8B after capital raise

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Report: Health insurance startup's valuation hits $1.8B after capital raise

Health insurance startup Devoted Health has raised $300 million in fresh capital, CNBC reported, citing people familiar with the matter.

Following the capital raise, the startup targeting seniors is now valued at $1.8 billion, according to the report. With Devoted Health, entrepreneurs Todd and Ed Park entered the market for Medicare Advantage plans, which offer coverage for people over age 65.

A Devoted Health spokesperson declined to comment on the valuation, the news outlet reported.