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- DUOS
DUOS Revenue, Valuation, Funding & Investors
DUOS is valued at $600M as of October 2025, a 21.4x multiple on its last reported $28M revenue.
Last DUOS valuation
$600M
Undisclosed stage · Oct 2025
Last DUOS funding round
$130M
Undisclosed stage · Oct 2025
DUOS revenue
$28M
Undisclosed stage · Oct 2025
Key investors in DUOS
Forerunner
Declaration Partners
Optum Ventures
SJF Ventures
FTV Capital
Imaginary Ventures
About DUOS
DUOS is a technology platform connecting Medicare beneficiaries to health resources across the United States. It aggregates data from disparate sources to enable proactive member engagement, health literacy improvements, and closed-loop care connections, partnering with insurers to enhance outcomes and satisfaction.
Founded
2020
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Services
Revenue
$28M (Oct 2025)
Valuation
$600M (Oct 2025)
DUOS Valuation
DUOS is currently valued at $600M, based on its undisclosed-stage round in October 2025.
The $130M round was led by FTV Capital, with participation from Forerunner.
DUOS valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Oct 2025 | Undisclosed stage | $600M | 21.4x |
DUOS Revenue
DUOS's latest recorded revenue is $28M, as of its undisclosed-stage round in October 2025. At a $600M valuation, that implies a 21.4x revenue multiple.
DUOS revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Oct 2025 | $28M | $600M | 21.4x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
DUOS Funding History
DUOS has raised a total of $161M across 4 funding rounds.
DUOS's first fundraising round was a $6M seed round in February 2021. The most recent completed round was a $130M undisclosed-stage round in October 2025.
DUOS funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2025 | Undisclosed stage | FTV Capital (lead); Forerunner | $130M | $600M | DUOS is an AI-powered digital health platform specializing in member activation and benefits execution for Medicare Advantage, Medicaid, and ACA marketplace plans. Headquartered in Minneapolis, Minnesota, the company was founded in 2020 and employs over 300 people. Its platform uses AI to learn from member behavior, deliver intelligent digital and human support, improve engagement, and drive measurable health plan performance. DUOS targets the final-mile problem in healthcare by enhancing completion rates and outcomes for seniors and other plan members. On October 9, 2025, DUOS raised $130 million in a strategic growth equity round led by FTV Capital, with participation from Forerunner Ventures, its earliest institutional investor. FTV partners joined the board, and Jenn Kerfoot was promoted to President of Market Operations. The funds will accelerate national expansion, deepen AI capabilities, enhance platform innovation, and scale go-to-market operations across target health plans. This round follows prior fundraising totaling over $33 million, including $15 million Series A in 2022, $10 million in 2023, and $6 million seed in 2021. The investment reflects strong investor confidence in DUOS's momentum in the HealthTech sector, particularly for senior-focused care navigation and AI-driven infrastructure. FTV Capital, a growth equity firm with expertise in healthcare technology, highlighted DUOS's proven impact on engagement and efficiency. The $600 million valuation underscores its position among notable players, enabling further product development, team growth, market entry, and technology investments amid rising demand for innovative health solutions. |
| Jun 2023 | Series A | Castellan Group (lead); Primetime Partners (lead); SJF Ventures (lead) | $10M | - | DUOS is a digital health company focused on empowering older adults to live independently through a technology platform and engagement services that address medical and social determinants of health needs. The company pairs older adults with managers called Duos who assist with rides, food deliveries, home repairs, housing, and medical care management. DUOS serves health plans, risk-bearing providers, and employer groups amid the growing aging crisis in the U.S. On June 22, 2023, DUOS raised an additional $10 million in funding led by Primetime Partners, SJF Ventures, and CEOC's Aging Innovation Fund managed by Castellan Group. This round supports rapid customer growth, technology platform expansion, and engagement services. Combined with its $15 million Series A in April 2022, DUOS's total funding reached more than $33 million at that time. The investment enables DUOS to maximize its mission by scaling impact to more older adults and caregivers across all 50 states. |
| Apr 2022 | Series A | Imaginary Ventures (lead); Declaration Partners; Forerunner; Optum Ventures | $15M | - | - |
| Feb 2021 | Seed | Forerunner (lead); Declaration Partners | $6M | - | DUOS is a digital health platform focused on member activation and benefits execution for older adults, operating across Medicare Advantage, Medicaid, and ACA marketplace plans. The company assigns members a dedicated "Duo"—a person responsible for facilitating support and ensuring task completion through interpersonal communication and technology. In 2021, DUOS raised $6 million in seed funding from Forerunner Ventures and other investors. By April 2022, the company closed a $15 million Series A led by Imaginary Ventures with participation from Forerunner Ventures, Declaration Partners, and Optum Ventures. The company had already secured partnerships with health insurance plans including Magellan Healthcare and Geisinger Health Plan, operating across California, Arizona, Nevada, Washington, Oregon, Georgia, and all 50 states via direct-to-consumer offerings. DUOS subsequently raised $130 million in growth equity in October 2025 led by FTV Capital, demonstrating strong investor confidence in its AI-powered platform and continued expansion trajectory. |
Who has invested in DUOS?
8 investors have backed DUOS across its funding rounds, including Forerunner, Declaration Partners, Optum Ventures, SJF Ventures, FTV Capital and Imaginary Ventures.
Lead investors include FTV Capital, Castellan Group, Primetime Partners, SJF Ventures, Imaginary Ventures and 1 other investor.
DUOS Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Feb 2021 | ||
| 2 | Participant | Feb 2021 | ||
| 1 | Lead | Jun 2023 | ||
| 1 | Lead | Jun 2023 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Lead | Jun 2023 | ||
This data is available for Pro users. Sign up to see all 8 DUOS investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by DUOS
DUOS has acquired 1 company to date.
Last acquisition by DUOS was on June 22nd 2026. DUOS acquired Linkwell Health for undisclosed valuation.
Latest Acquisitions by DUOS
| Description | Linkwell Health is a US-based consumer engagement platform for healthcare. Headquartered in Florida, the company creates omnichannel digital experiences including personalized content and apps for Medicare Advantage plans. Linkwell Health drives enrollment and retention for insurers like Humana and UnitedHealthcare through targeted messaging and analytics. |
| HQ Country | |
| HQ City | New York City, NY |
| Deal Date | 22 Jun 2026 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all DUOS acquisitions and their M&A valuation multiples. Start Free Trial | |
DUOS Competitors
DUOS competitors include listed companies like Clover Health and Molina Healthcare, and private ones like Belong Health, Curative, Grand Rounds and MediTrust Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $345M | - | ||
| Private | - | - | $1.3B | - | ||
| Private | - | - | $1.3B | - | ||
| Private | $154M | - | $1.4B | 9.3x | ||
| Publicly listed | $1.9B | ($84M) | $2.4B | 0.8x | ||
| Publicly listed | $45B | $976M | $11B | 0.1x |
DUOS Public Comps
DUOS is still privately-owned, but its public comps include Hapvida, Evolent Health, Eurowag, Value HR, MetropolCard, Personal Group Holdings, Qualicorp, AIX Inc., GoodRx and LM Pay.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $6.1B | $787M | 0.3x | 0.3x | 2.7x | 4.0x | |||
| $1.9B | ($365M) | 0.7x | 0.5x | (3.5x) | 9.4x | |||
| $2.7B | $119M | 0.5x | 3.0x | 10.3x | 7.5x | |||
| $65M | $9M | 4.4x | 4.1x | 30.9x | - | |||
| $42M | $21M | 4.2x | - | 8.6x | - | |||
| $65M | $16M | 2.2x | 2.1x | 9.2x | 8.0x | |||
| $277M | $124M | 0.9x | 0.9x | 2.0x | 2.6x | |||
| $83M | ($342M) | 0.8x | - | (0.2x) | - | |||
This data is available for Pro users. Sign up to see all DUOS competitors and their valuation data. Start Free Trial | ||||||||
Common questions about DUOS
| When was DUOS founded? | DUOS was founded in 2020. |
| Where is DUOS headquartered? | DUOS is headquartered in Minneapolis, MN, United States. |
| Is DUOS publicly listed? | No, DUOS is a private, VC-backed company. |
| What is DUOS's valuation? | DUOS was last valued at $600M in its undisclosed-stage round in October 2025. |
| How much funding has DUOS raised? | DUOS has raised $161M across 4 funding rounds. |
| What was DUOS's last funding round? | DUOS's last funding round was a $130M undisclosed-stage round in October 2025, led by FTV Capital. |
| Who are DUOS's investors? | DUOS's investors include Forerunner, Declaration Partners, SJF Ventures, Primetime Partners, Optum Ventures, Castellan Group, Imaginary Ventures and FTV Capital. |
| What is DUOS's revenue? | DUOS's latest recorded revenue is $28M (October 2025). |
| What is DUOS's revenue multiple? | DUOS's latest valuation implies a 21.4x revenue multiple ($600M valuation on $28M of revenue). |
| Which companies are comparable to DUOS? | Companies comparable to DUOS include Belong Health, Curative, Grand Rounds, MediTrust Health, Clover Health and Molina Healthcare. |
| How many companies has DUOS acquired? | DUOS has acquired 1 company, including Linkwell Health. |
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