A New York-based pioneering health technology company, Centivo, has raised $75 million in equity and debt financing to make high-quality healthcare affordable and accessible to working families.
The company’s latest financing round was co-led by Cone Health Ventures and MemorialCare Innovation Fund, with contributions from existing investors Cox Enterprises, Ingleside Investors, F-Prime Capital, Morgan Health, and B Capital.
Founded in 2017 by Ashok Subramanian, Centivo aims to make high-quality care affordable and accessible for the working class by helping employers manage costs through advanced primary care models, direct contracts with reputable healthcare organizations, and tech-backed member engagement.
The company’s healthcare-focused solutions come at a time when healthcare costs are soaring. In 2022, Americans paid over $4.5 trillion in healthcare costs, with employers paying the largest portion of the cost. At the same time, rising deductibles have created an affordability crisis for the working class.
Centivo will use the latest funding to scale its technology, improve its product, and forge new strategic partnerships with health systems to help reduce annual employee out-of-pocket costs, realize cost savings, and improve care outcomes.