Pearl Health Raises $110M in Funding to Expand Its AI Platform

The financing includes a $50 million equity round led by Andreessen Horowitz, with participation from Viking Global Investors, AlleyCorp, and Ulysses Capital, as well as a $60 million debt facility led by Trinity Capital.

The company will use the funding to expand its AI platform, strengthen partnerships with health systems and insurers, grow its Medicare Advantage business, and launch new risk management offerings.

Read More:Wonderdog Secures $5M in Pre-Seed Funding Round

Pearl's AI platform helps healthcare providers identify and manage patient risk, improve workflows, and take action before health issues become more serious and costly. Its Performance Intelligence platform gives care teams real-time, AI-powered insights into patient needs, quality measures, healthcare costs, and utilization trends, helping them focus on the most important opportunities to improve care.

The company is also developing AI agents to automate routine administrative tasks such as scheduling annual wellness visits, coordinating post-discharge follow-ups, and managing patient outreach. This allows healthcare teams to spend more time caring for patients and less time on paperwork.

Pearl works with a network of more than 10,000 healthcare providers across over 40 U.S. states, including health systems such as University of Vermont Health and MDX Hawaii. Together, they provide care for more than 250,000 Medicare beneficiaries. The company now manages about $3.6 billion in annualized medical spending, up from $2.4 billion the previous year.

Pearl expects to generate $500 million in gross savings and triple the number of patients it serves between 2024 and the end of 2026. The company also became profitable in 2025 while continuing to grow rapidly.

"Pearl was founded on a simple belief: healthcare should reward keeping people healthy, not just treating them when they are sick," said Michael Kopko, co-founder and CEO of Pearl Health. "Unnecessary costs and poor outcomes persist in US healthcare because most providers lack the capabilities to shift to outcomes-based care alone, with this financing.

"Pearl has demonstrated that managing risk across large patient populations across many different settings of care can improve patient outcomes, generate meaningful savings, and support a sustainable business model at scale," said Vineeta Agarwala, MD, general partner at Andreessen Horowitz. "Pearl's ability to enable providers to participate in value-based payment programs successfully.

"We believe Pearl Health is changing how providers participate in value-based care, simplifying the data and daily workflow so they can spend more of their time and attention on their patients," said Phil Gager, Senior Managing Director, Tech Lending at Trinity Capital. "We are proud to support this team and what they are building as they enter their next stage of growth."

About Pearl Health

Founded in 2020 by Michael Kopko, Pearl Health develops AI-powered technology that helps healthcare providers deliver better, more affordable care. Its platform uses predictive insights, financial risk modeling and workflow automation to identify at risk patients early, allowing care teams to intervene before health problems become emergencies.

Read More:Adaptive Insurance Raises $5M in Funding Round