The funding round, supported by Morgan Health, MemorialCare Innovation Fund, and other investors, aims to accelerate the company’s mission to make healthcare more affordable for working Americans. 

Centivo, a healthcare plan provider for self-funded employers, has raised $75 million in equity and debt financing. 

The funding round, supported by Morgan Health, MemorialCare Innovation Fund, and other investors, aims to accelerate the company’s mission to make healthcare more affordable for working Americans.

Strategic Financing for Expansion

The financing, which includes backing from investors such as Cone Health Ventures and F-Prime Capital, is intended to scale Centivo’s product and technology and foster new partnerships with health systems. 

Ashok Subramanian, CEO and co-founder of Centivo, described the company's focus and said,  “We’ve always stayed true to our vision that most working Americans need a health plan they can afford to use, unlike many plans in the market today.”

Centivo was founded in 2018 with a clear mission: to align the incentives between healthcare providers and employers, ensuring timely care access, predictable costs, and outcome-based reimbursements. 

The model is built around primary care, aiming to eliminate deductibles and provide affordable, predictable co-payments for employees. 

"If you're an employee or a family member, your healthcare needs are the same—you want great access, quality, and affordability," Subramanian noted.

Investment to Improve Member Experience

The recent financing will allow Centivo to enhance its technology and expand its network. 

"This capital allows us to grow by adding clients, expanding markets, and improving the member experience, making interactions with primary care teams more seamless," Subramanian said. 

The company is set to expand its presence in Texas and North Carolina, targeting 100,000 covered lives by early 2025.

Centivo has been growing rapidly, achieving 80% revenue growth for the second consecutive year. The company serves over 160 employers, ranging from Fortune 100 to small businesses, and is projected to continue its upward trajectory. 

According to Subramanian, “We’re adding more provider partners to our footprint and expanding in a targeted way.”

Healthcare Costs & the Centivo Approach

As healthcare costs in the US continue to rise, Centivo offers a model designed to help employers manage costs. The company embeds primary care as the core of its health plan experience and partners with accountable care providers. MemorialCare Health System and Mount Sinai are partners known for cost-effective, high-quality care. 

"We work with providers committed to accountable care. Our model is centered around primary care, ensuring employees receive the most efficient care possible," Subramanian explained.

Centivo’s approach integrates primary care, member engagement, and plan administration, creating a seamless experience for employees and employers. 

"By focusing on primary care and not supporting fully insured businesses or Medicare, we avoid many of the conflicts and challenges faced by traditional insurance carriers," Subramanian said.

Looking ahead, Centivo plans to continue expanding its footprint, adding new markets, and reaching more employers. "Our goal is to expand the number of Americans who can finally have a health plan they can afford," Subramanian said.

The new financing is expected to support Centivo’s continued growth while focusing on improving healthcare affordability for employers and employees alike.

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