Wednesday, April 24, 2024
HomeFunding TX-based Harbor Health Secures $95.5M in New Funding

[Funding alert] TX-based Harbor Health Secures $95.5M in New Funding

TX-based Harbor Health secures $95.5M in new funding. General Catalyst leads this additional round of funding with strong participation by Alta Partners and continued support by 8VC.

TX-based Harbor Health secures $95.5M in new funding. General Catalyst leads this additional round of funding with strong participation by Alta Partners and continued support by 8VC.

Total investment to date is more than $128 million. This additional funding will allow for continued growth in providing primary care services, broadening the scope of specialty care offerings, and developing plan designs that support care journeys co-created by consumers and their clinicians.

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Texas employers can use these plan designs to lower their costs while incorporating an improved, coordinated care system that results in healthier and happier employees.

Harbor Health was founded by Dr. Clay Johnston, Eric Scott (from 8VC) and Tony Miller. The idea of building Harbor was sparked by conversations Tony and Clay had as the leaders of their previous organizations (Bind/Surest and University of Texas at Austin Dell Medical Center, respectively).

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Clay said, “We realized in order to maximize the impact of our innovations, we needed to combine our efforts into one enterprise as a vertically integrated ‘pay-vider’ – both a payer and a provider, We have built a geographically dense care model that is organized around integrated practice units and focused on member health conditions. This new investment and our rapid growth confirm our innovative care model is working, and we’re meeting more people where they are with collaborative, team-based care.”

This funding round also includes returning investors Health 2047 Capital Partners, Lemhi Ventures, Martin Ventures and a series of individuals.

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Harbor Health is leading the transformation of care that employers, providers and consumers alike are all seeking. The team is implementing a unique approach focused on helping consumers get healthier faster by connecting them to a dedicated health team and customized care pathways.

Miller said, “Harbor believes that care models have to be paired with longitudinal coverage models that make insurance subsidies aligned to better care journeys. This process will help consumers understand that they really are co-creators of their health. Eventually, we see a future where current care design and benefit design models become obsolete, replaced by a health-producing and health-promoting system that follows people along their life journeys,”.

Chris Bischoff, Managing Director at General Catalyst said, This new approach and the history of success by both Johnston and Miller have attracted attention in the marketplace and from investors. There’s a strong appetite for a fresh approach to healthcare delivery among employers that prioritizes outcomes, enhances consumer engagement, and is proactive by design, We believe Harbor Health is providing ease of access to the largest covered population in the U.S. and bringing much-needed change as the company seeks to transform value-based care for the commercial sector. This aligns with our Health Assurance thesis. We look forward to supporting Tony, Clay, and the Harbor Health team in this new phase of growth.”

About Harbor Health

Harbor Health , you’re a person, not a patient. They all want to get and remain healthy, but the way things are done now doesn’t feel like we’re a part of the solution. You won’t have to go it alone when you embark on your health journey with them.

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Together, they will make the best decisions possible at every stage, from where you receive your care (a clinic, your home, an office, or a mobile office) to how they support you in becoming and remaining well. That is how health is co-created.

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