Pearl Health raises $110M Series C to expand its Medicare AI platform
What's the deal? Pearl Health has raised $110 million in a Series C round, split between equity led by Andreessen Horowitz and a debt facility led by Trinity CapitalDealroom has a profile for this one. Try Dealroom →. Viking Global InvestorsDealroom has a profile for this one. Try Dealroom →, AlleyCorpDealroom has a profile for this one. Try Dealroom →, and Ulysses CapitalDealroom has a profile for this one. Try Dealroom → also participated. The New York healthcare technology company uses AI to help providers manage risk and deliver care to Medicare patients.
What's the endgame? Pearl's platform helps providers predict risk, orchestrate workflows, and act before issues become costly emergencies. The new capital will expand that AI platform, grow enterprise health system and payer partnerships, push into Medicare Advantage, and fund new risk offerings.
Why now? More than 70 million people rely on Medicare, with costs topping $1 trillion and rising. Reimbursement is increasingly tied to outcomes rather than utilisation, creating incentives for providers to prevent illness and manage patient populations earlier.
By the numbers: Pearl manages roughly $3.6 billion in annualised medical spend, up from $2.4 billion the prior year and $1.6 billion the year before. It reached profitability in 2025 and is projected to deliver $500 million in gross savings while tripling its patient base from 2024 through the end of 2026.
The company supports more than 10,000 providers across over 40 states, including University of Vermont Health and MDX HawaiiDealroom has a profile for this one. Try Dealroom →, caring for over 250,000 Medicare beneficiaries.
What they're saying: "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 chief executive officer. Andreessen Horowitz general partner Vineeta Agarwala pointed to Pearl's model of enabling value-based care "through technology, rather than clinical workforce expansion."
The signal: The $110 million round sits in the top 10% of Series C rounds for US health companies all-time, a sign of investor appetite for technology that helps providers succeed under outcomes-based payment as healthcare shifts from reactive treatment to prevention.
Read more: PR Newswire
