- The round is made up of equity capital of $55 million and a credit line of an anticipated $20 million
- The medical company's technology applies data science to assist primary care providers
Pearl Health, a leading technology company focused on risk control and physician enablement in value-based care, raised $75 million in a Series B funding round led by Andreessen Horowitz's Growth Fund. Other participants include SV Angel's Growth Fund, AlleyCorp, and other leading investors, Bankless Times learned from a press release.
Total funding to date is $100M+
The round is made up of equity capital of $55 million and a credit line of an anticipated $20 million. The total funding amounts to over $100 million to date. Pearl Health Co-Founder and CEO Michael Kopko said:
We are grateful to have the support of such esteemed investors as we continue to build technology that enables physicians to provide better care for their patients and helps our healthcare system transition from volume to value. This latest round of funding, combined with our previous investments, will allow us to expand our network and accelerate the development of innovative solutions that place providers at the center of healthcare delivery and cost management.
Moving toward a proactive care model
The medical company's technology applies data science to assist primary care providers in turning attention to where it’s most needed. It allows clinical staff and physicians to adopt a more proactive care model, whereby they can invest in preventive care and provide more personalized, holistic treatment.
General Partner at Andreessen Horowitz and Board Director for Pearl Health Vineeta Agarwala added:
Pearl Health arms providers with data insights and superpowers to help them manage the health of an entire patient panel. We believe this technology should enable providers across the country to be at the forefront of our healthcare industry's transformation towards value, achieving improved outcomes and lower total cost of care.
10x year-on-year growth in 2022
Pearl reached more than 800 partnerships with primary care providers nationwide in 2022, leading to over 10x year-on-year growth. Moreover, the company’s reach expanded from 10 to 29 states. This increase reflects a strong trend in favor of physician enablement programs and technology that help providers adopt more effective value-based care models.
The new funding will enable Pearl Health to continue developing new partnerships, expand its reach within primary care, accelerate innovation by investing more in research and development, and broaden the scope of its offerings to partners.
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