Formica participates in Devoted Health’s Series D funding

October 18, 2021

Formica continues its support of Devoted Health in Devoted’s recent USD 1.2bn Series D round, the largest ever by a private company in Massachusets. Formica has supported Devoted, since its 2018 Series B round. Lead investors in the round were Uprising and Softbank Vision Fund 2, with existing investors including Andresseen Horowitz and GIC participating.

Devoted Health is a Waltham, MA. based company founded by brothers Ed and Todd Park. The company is focused on Americans who use Medicare Advantage, a program supported by the federal government that covers additional services, such as visits to a dentist or eye doctor. Devoted Health uses its software and data to make more informed decisions about the cost and delivery of care, acting as both an insurer and as a provider.