What is Centivo?
Centivo operates as a comprehensive health plan administrator, offering a robust network, claims processing, and population health management solutions directly to self-funded employers and their employees. The company aims to simplify healthcare access and improve outcomes by providing a more integrated and cost-effective approach to benefits administration. Its services are designed to address the complexities of the healthcare system, making it easier for organizations to manage employee health benefits while ensuring employees receive quality care.
How much funding has Centivo raised?
Centivo has raised a total of $226.4M across 6 funding rounds:
Angel/Seed
$2.4M
Series A
$34M
Series B
$34M
Unspecified
$51M
Corporate Investment
$30M
Debt
$75M
Angel/Seed (2017): $2.4M with participation from Maverick Ventures
Series A (2018): $34M, investors not publicly disclosed
Series B (2020): $34M supported by Nassau Street Ventures, B Capital Group, Define Ventures, LLC, and HarbourVest Partners LLC
Unspecified (2021): $51M featuring Company Ventures, Alumni Ventures, Define Ventures Management, Ingleside Investors, B Capital Group, Maverick Ventures, Nassau Street Ventures, HarbourVest, Bain Capital, and F-Prime Capital Partners
Corporate Investment (2022): $30M backed by Morgan Health
Debt (2024): $75M with participation from Morgan Health, MemorialCare, and Cone Health
Key Investors in Centivo
Morgan Health
Morgan Health is a division of JPMorgan Chase focused on enhancing the quality, affordability, and equity of employer-sponsored health care. They invest in mid-stage companies and provide data-driven insights to help employers make informed health care decisions.
MemorialCare
MemorialCare is a hospital system operating primary hospitals and multiple outpatient facilities and programs, with a history dating back to 1907.
Cone Health
Cone Health is a private, not-for-profit healthcare delivery system based in Greensboro, North Carolina, comprising multiple hospitals and behavioral health services.
What's next for Centivo?
The recent major strategic investment suggests Centivo is poised for significant expansion and further development of its platform. This capital infusion will likely fuel initiatives aimed at broadening its network reach, enhancing its technological capabilities, and potentially exploring new market segments. As a company operating in the enterprise-level funding stage, Centivo is expected to focus on scaling its operations, optimizing its service delivery, and solidifying its competitive advantage in the health plan administration sector. Future growth may involve strategic partnerships or acquisitions to accelerate market penetration and service offerings.
See full Centivo company page
