# Centivo Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/centivo

- Industry: Insurance
- Headquarters: Buffalo, US
- Website: www.centivo.com
- Total disclosed funding: $146M
- Latest round: Series C (Sep 24, 2024)
- Investors on record: 16

## About

Centivo Corporation, based in the US, delivers innovative health plan solutions tailored for self-funded employers, focusing on affordable healthcare and quality primary care services.Founded in 2017 in Buffalo, US, Centivo Corporation specializes in developing health plans for self-funded employers. The company was established by a team including Alan Cohen, Ashok Subramanian, Stuart Roth, and Tahasin Alam. Centivo has successfully completed 8 funding deals, with its latest funding round being the Series C, raising USD 25.00 mn from investors including B Capital Group and Cox Enterprises Inc. The total amount raised by the company is USD 25.00 mn, valuing it at USD 448.21 mn.Centivo offers innovative health plan solutions specifically designed for self-funded employers, emphasizing affordable and quality healthcare. Their core product is a health plan that integrates free primary care with a focus on high-quality providers and affordable plan designs, eliminating traditional deductibles and introducing low, predictable copays. The primary objective of these offerings is to enhance healthcare access for employees, thereby improving health outcomes while reducing overall medical costs. Centivo's client base comprises self-funded employers across various industries in the United States, where they aim to address the escalating costs associated with healthcare. By centering their services around a robust primary care model, Centivo supports employees in navigating their healthcare needs more effectively, consequently lowering hospital visits and managing overall care expenses.Centivo generates revenue through the administration of self-funded health plans for employers, which are not classified as traditional insurance products. The company's financial transactions typically involve a fee structure based on the services provided to employers, with health plans tailored to the specific needs of their clients. Employers pay a set fee for the health plan, which includes services like virtual primary care and a network of high-quality providers. This direct-to-employer model allows Centivo to offer competitive pricing while ensuring that employees benefit from predictable healthcare costs. The pricing structure is designed to promote utilization of preventive care, thereby driving down overall healthcare expenditures and creating savings for both employers and employees.Centivo Corporation plans to leverage its recent funding of USD 25.00 mn from the Series C round to enhance its product offerings and expand into new markets. The company is focused on developing additional health plan solutions and is exploring opportunities to enter new geographical regions within the United States. Specific areas targeted for expansion are currently being assessed, with a strategy to launch new products within the upcoming year.

## Funding rounds

- Series C, Sep 24, 2024, $25M — Ingleside Investors, F-Prime Capital, Cox Enterprises Inc., MemorialCare Innovation Fund, B Capital, Cone Health Ventures, Morgan Health
- Series B, Sep 22, 2021, $51M — HarbourVest Partners, Bain Capital, Ingleside Investors, F-Prime Capital, Maverick Capital, Alumni Ventures Group, B Capital, Define Ventures, Company Ventures
- Series B, Dec 7, 2020, $34M — HarbourVest Partners, Bain Capital, Ingleside Investors, F-Prime Capital, Rand Capital Corporation, Maverick Capital, Alumni Ventures Group, B Capital, Define Ventures, Company Ventures
- Series A, Jul 18, 2018, $34M — Bain Capital, Ingleside Investors, Bessemer Venture Partners, F-Prime Capital, Rand Capital Corporation, Maverick Capital, Oxeon, Company Ventures
- Seed, Feb 1, 2017, $2.4M — Maverick Capital

## Investors

- Maverick Capital (https://capitalatlas.ai/funds/maverick-capital) — Seed, Series A, Series B
- Bain Capital (https://capitalatlas.ai/funds/bain-capital) — Series A, Series B
- Ingleside Investors — Series A, Series B, Series C
- Bessemer Venture Partners (https://capitalatlas.ai/funds/bessemer-venture-partners) — Series A
- F-Prime Capital (https://capitalatlas.ai/funds/f-prime-capital) — Series A, Series B, Series C
- Rand Capital Corporation (https://capitalatlas.ai/funds/rand-capital-corporation) — Series A, Series B
- Oxeon (https://capitalatlas.ai/funds/oxeon) — Series A
- Company Ventures (https://capitalatlas.ai/funds/company-ventures) — Series A, Series B
- HarbourVest Partners (https://capitalatlas.ai/funds/harbourvest-partners) — Series B
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series B
- B Capital (https://capitalatlas.ai/funds/b-capital) — Series B, Series C
- Define Ventures (https://capitalatlas.ai/funds/define-ventures) — Series B
- Cox Enterprises Inc. — Series C
- MemorialCare Innovation Fund (https://capitalatlas.ai/funds/memorialcare-innovation-fund) — Series C
- Cone Health Ventures (https://capitalatlas.ai/funds/cone-health-ventures) — Series C
- Morgan Health — Series C