Total amount raised
$891.3 Millions
Latest funding date
07/01/2022
Location
Cityblock Health has successfully raised significant funding over multiple rounds, positioning itself as a key player in the healthcare sector. The platform offers a comprehensive range of services, including primary care, mental health support, and social care services.
Keep reading to explore the intricacies of Cityblock Health's fundraising journey and the investors backing this innovative healthcare provider.
What Is Cityblock Health?
Cityblock Health is a healthcare provider focused on filling gaps in the healthcare system, particularly for marginalized communities. They offer a range of services including primary care, mental health support, social care services, and a 24/7 care line.
Founded by Dr. Toyin Ajayi, Cityblock Health is headquartered at 495 Flatbush Ave, Brooklyn, NY 11225. The company aims to provide respectful, trust-based, and relationship-based care that affirms the autonomy of the people they serve.
Unfortunately, specific details about the founding year and the number of employees were not found in the provided sources.
How Much Funding Has Cityblock Health Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: March 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial healthcare services.
- Series A
- Amount Raised: $20.8M
- Date: January 2018
- Lead Investors: Maverick Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's service offerings and scale its operations.
- Series B
- Amount Raised: $65M
- Date: April 2019
- Lead Investors: Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the technology platform and increase the reach of their healthcare services.
- Series B
- Amount Raised: $53.5M
- Date: July 2020
- Lead Investors: Kinnevik
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and improve service delivery.
- Series C
- Amount Raised: $160M
- Date: December 2020
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their healthcare services to more communities.
- Series C
- Amount Raised: $192M
- Date: March 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and technology to serve more members.
- Series D
- Amount Raised: $400M
- Date: September 2021
- Lead Investors: SoftBank
- Valuation at Round: $5.7 billion
- Motivation Behind the Round: To expand access to services and reach 10 million members by 2030.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and service expansion.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $891.3M
Current Valuation: $5.7 billion
Key Investors
The major investors in Cityblock Health include:
- SoftBank
- Details: SoftBank Group Corp. is a Japanese multinational conglomerate holding company headquartered in Tokyo, Japan. They are known for their Vision Fund, which focuses on large-scale investments in technology companies.
- Investment Focus Areas: Technology, energy, financial services
- Notable Investments: Uber, WeWork, Alibaba
- Tiger Global Management
- Details: Tiger Global Management is an American investment firm that focuses on public and private companies in the global Internet, software, consumer, and financial technology industries. The firm was founded in 2001 and is headquartered in New York City.
- Investment Focus Areas: Internet, software, consumer, financial technology
- Notable Investments: Facebook, LinkedIn, Spotify
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in powerful, positive change that endures. They partner with founders from seed through growth stage and beyond to build companies that withstand the test of time.
- Investment Focus Areas: Technology, healthcare, consumer
- Notable Investments: Airbnb, Stripe, Snap
- Kinnevik
- Details: Kinnevik is a Swedish investment company founded in 1936. They focus on building digital consumer businesses in four sectors: E-commerce & Marketplaces, Financial Services, Healthcare, and TMT (Technology, Media, and Telecommunications).
- Investment Focus Areas: E-commerce, financial services, healthcare, TMT
- Notable Investments: Zalando, Tele2, Babylon Health
- Redpoint
- Details: Redpoint Ventures is a venture capital firm focused on investments in seed, early, and growth-stage companies. They have a strong track record in backing successful technology startups.
- Investment Focus Areas: Technology, consumer, enterprise
- Notable Investments: Netflix, Snowflake, Stripe
What's Next for Cityblock Health?
Cityblock Health stands at the cusp of a transformative journey, with the opportunity to expand its services to millions of Medicaid recipients and underserved populations. The recent $400 million funding round, led by SoftBank, underscores the significant market potential and the company's mission to serve 10 million members by 2030. This expansion is not just about scaling operations but also about leveraging technology to improve primary care delivery and health outcomes for low-income patients.
Future fundraising opportunities appear promising as Cityblock continues to attract investment from venture capitalists and private equity firms. These funds will be crucial for scaling operations, expanding to new regions, and enhancing their technology platform. However, the path ahead is not without challenges. Navigating the complexities of Medicaid, addressing social determinants of health, and maintaining the quality of care while scaling are significant hurdles. Yet, with a strong focus on value-based care and integrated health services, Cityblock Health is well-positioned to make a lasting impact on the healthcare landscape.
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