Yuvo Health Raises $20.2 Million Series A Financing To Advance Innovation in Value-Based Care for Federally Qualified Health Centers
— Mission-Based Healthcare Pioneer Doubles Number of Partnering FQHCs, Reaching 150,000 Patients —
NEW YORK, June 7, 2023 /PRNewswire/ -- Yuvo Health, a leading technology-enabled administrative and managed-care solution for community health centers, today announced it has raised an oversubscribed $20.2 million Series A round of financing. Led by Mastry Ventures, with participation from previous investors including AlleyCorp, AV8 Ventures, and New York Ventures, and new investors including HLM Venture Partners, Route 66 Ventures, VamosVentures, and Social Innovation Fund, the latest round brings their total funding to $27.5 million, combined with their $7.3 million seed round announced in January 2022.
"Yuvo Health supports FQHCs, which are the only primary-care access point for millions of underserved Americans today. As an ecosystem and infrastructure partner, Yuvo provides FQHCs a technology, operational, and admin platform that unlocks value-based care, reduces medical costs, and increases quality care," said Fatima Husain, Co-Founder and General Partner for Mastry Ventures, who joins Yuvo Health's Board. "We are bullish on the critical role this industry pioneer will play in driving health equity forward."
Yuvo Health will leverage the new investment to further scale its successful infrastructure, expanding from New York to Ohio, while transitioning to accept full-risk arrangements on behalf of their FQHC and community health center partners. In conjunction with the funding news, Yuvo Health has added several new FQHCs, doubling their original number announced in May 2022, which reach more than 150,000 patients.
"Community health centers, and the patients they serve, have been left out of the value-based care conversation for far too long," said Dr. Brenton Fargnoli, General Partner at AlleyCorp and member of Yuvo Health's Board of Directors. "Yuvo uniquely focuses on the needs of underserved communities, and continues to make enormous strides in bringing community health centers successfully into value-based care."
Based in New York City, Yuvo Health launched in early 2021 by a fully BIPOC founding team that has experienced firsthand the power of quality care for underserved communities. The industry leader partners with community health centers to leverage new payment systems, scalable infrastructure, and partnerships for a meaningful seat at the table within the value-based care ecosystem. In doing so, community health centers gain the freedom — and the incentives — to provide compassionate care for their entire community.
"We are delighted to announce our $20.2 million investment, which serves as a testament to the amazing work of FQHCs to keep our communities healthy," said Cesar Herrera, CEO and co-founder of Yuvo Health. "With our latest financing, we can leverage our success in New York and now scale to new markets with more sophisticated revenue models, enabling us to serve even more FQHCs and extend their commitment to their communities."
To learn more about Yuvo Health's FQHC partners, click here.
About Yuvo Health:
Launched in January 2021, Yuvo Health was founded in New York City by a fully BIPOC team with shared first-hand experiences of the power of quality care, and a common goal to bring fair, quality care to underserved communities. The entire Yuvo Health team is now on a shared mission to ensure every health center can provide compassionate care to their entire community. Yuvo Health is an industry-leading partner to health centers, supporting them every step of the way as they extend their reach, while continuing to deliver the highest quality of care. With Yuvo Health addressing their unique needs, health centers can leverage sustainable payment systems, scalable infrastructure, and partnerships for a meaningful seat at the table within the value-based care ecosystem. Currently, the company serves community health centers and independent physician associations (IPAs) in the Northeast and Midwest, with plans to expand to more markets soon.
About MASTRY Ventures:
MASTRY Ventures is a venture capital firm that leads early-stage investments. Our promise at MASTRY Ventures is to be a lot more than capital. Our network includes 100+ of the most impactful public and private company founders and CEOs, the brightest operators with deep technical and industry expertise, a roster of Midas List VCs, and the most progressive athletes and influencers shaping today's world. We leverage our unique network to bend the risk curve for our companies. We develop partnerships, create distribution advantages, help build people strategies, and provide true rolled-up-sleeves support to help our founders succeed. And it doesn't end there. Diversity, equity, and inclusion is a MASTRY Ventures cornerstone. We are building a unique playbook to ensure access to diverse capital, governance, and talent for our portfolio companies from day one. Our past portfolio includes Zoom, Pager Duty, Datadog, Robinhood, Carta, Coinbase, GOAT, Uber, Dapper Labs, Levels Health, Hippo, Madison Reed, Acorns, Papa, Pachama, Nurx, Hims, and Shef, to name a few.
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SOURCE Yuvo Health
