- Companies
- Elation Health
Elation Health Valuation, Funding & Investors
Elation Health is valued at $395M as of July 2022.
Last Elation Health valuation
$395M
Series D · Jul 2022
Last Elation Health funding round
$50M
Series D · Jul 2022
Cumulative funding Elation Health raised
$105M
across 3 funding rounds
Key investors in Elation Health
Threshold
Generation Investment Management
Kapor Capital
Ascension Ventures
Hyphen Capital
Charlie Cheever
About Elation Health
Elation Health is a San Francisco-headquartered electronic health record platform tailored for independent primary care practices. The system features collaborative charting, telehealth integration, and patient engagement tools built on FHIR standards. Elation supports over 3,000 clinicians across the United States, emphasizing workflow efficiency and MIPS compliance. Founded in 2010, it acquired Hint Health in 2023 to expand direct primary care capabilities.
Founded
2010
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$395M (Jul 2022)
Elation Health Valuation
Elation Health is currently valued at $395M, based on its Series D in July 2022.
The $50M round was led by Ascension Ventures and Generation Investment Management, with participation from Ascend Partners, Fay Rotenberg, Jonathan Bush, Hyphen Capital and Threshold.
Elation Health's valuation has grown 1.8x from $225M at its Series C in December 2020 to $395M in July 2022, across 2 priced rounds.
Elation Health valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2022 | Series D | $395M |
| Dec 2020 | Series C | $225M |
Elation Health Funding History
Elation Health has raised a total of $105M across 3 funding rounds.
Elation Health's first fundraising round was a $15M Series B in August 2016. The most recent completed round was a $50M Series D in July 2022.
Elation Health funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2022 | Series D | Ascension Ventures (lead); Generation Investment Management (lead); Ascend Partners; Fay Rotenberg; Jonathan Bush; Hyphen Capital; Threshold | $50M | $395M | Elation Health is a clinical-first technology company providing a primary care platform that supports independent practices in value-based care models, serving over 12.8 million patients with tools for clinical and practice management to enable top-of-license operation. On July 26, 2022, the company announced a $50 million Series D funding round co-led by Generation Investment Management and Ascension Ventures, with participation from Threshold Ventures, Ascend Partners, Hyphen Capital, and individuals Fay Rotenberg and Jonathan Bush. This round brought total venture funding to $108.5 million. Funds are designated for rapidly scaling the platform and continuing development for clinician delight amid complex healthcare payment models, while maintaining high NPS and KLAS scores. |
| Dec 2020 | Series C | Generation Investment Management (lead); Kapor Capital; Threshold | $40M | $225M | Elation Health is a clinical-first electronic health record (EHR) platform designed for independent primary care practices, emphasizing clinician experience over billing to support high-quality care and value-based payment models. The platform includes tools for health records, virtual care, patient engagement, and practice operations, with additions like telehealth and self-scheduling in 2020. In 2020, it powered over 20 million in-office and virtual visits for approximately 14,000 clinicians. On December 10, 2020, Elation Health raised $40 million in a Series C round led by Generation Investment Management, with participation from existing investors Threshold Ventures and Kapor Capital. This brought total funding to $63 million since its founding a decade earlier. The funds were allocated to expand the core technology platform, enhance capabilities for business operations such as billing, payment collection, and quality reporting, and scale support for physician-led practices amid the shift to sustainable healthcare and value-based care. The round occurred during a challenging year for primary care, marked by pandemic-related revenue losses estimated at $67,774 per full-time-equivalent physician in 2020. Elation differentiates from fee-for-service focused competitors by prioritizing clinical workflows, positioning it to aid independent practices transitioning to new payment models. |
| Aug 2016 | Series B | Threshold (lead); Martha H. Marsh; Charlie Cheever | $15M | - | - |
Who has invested in Elation Health?
10 investors have backed Elation Health across its funding rounds, including Threshold, Generation Investment Management, Kapor Capital, Ascension Ventures, Hyphen Capital and Charlie Cheever.
Lead investors include Ascension Ventures, Generation Investment Management and Threshold.
Elation Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Aug 2016 | ||
| 2 | Lead | Dec 2020 | ||
| 1 | Participant | Jul 2022 | ||
| -- | 1 | Participant | Aug 2016 | |
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Jul 2022 | ||
| 1 | Participant | Aug 2016 | ||
| 1 | Participant | Jul 2022 | ||
This data is available for Pro users. Sign up to see all 10 Elation Health investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Elation Health
Elation Health has acquired 2 companies to date.
Last acquisition by Elation Health was on June 1st 2026. Elation Health acquired Aster for undisclosed valuation.
Latest Acquisitions by Elation Health
| Description | Aster is a San Francisco-based SaaS platform tailored for OB/GYN practices, featuring customizable templates for prenatal care, fertility tracking, and high-risk pregnancy management. Developed with input from 200 OB/GYN specialists, it streamlines workflows from initial consultations to postpartum follow-ups. The system integrates with EHRs like Epic and Cerner, supporting over 150 clinics in the United States with automated billing and patient engagement portals. | Lightning MD is a health technology firm developing software for medical practices. Focused exclusively on healthcare, it provides medical billing platforms with claims processing and revenue cycle management, plus a telehealth application for virtual consultations. Headquartered in the United States, the company plans expansions into electronic health records and patient mobile apps. Lightning MD integrates with practice management systems to reduce administrative burdens for independent clinics and small hospitals. |
| HQ Country | ||
| HQ City | San Francisco, CA | Palm Desert, CA |
| Deal Date | 1 Jun 2026 | 16 Feb 2023 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Elation Health acquisitions and their M&A valuation multiples. Start Free Trial | ||
Elation Health Competitors
Elation Health competitors include listed companies like Software Service and Vitalhub, and private ones like HeyDonto, Eko Health, Heidi Health and Redox.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $200M | - | ||
| Private | - | - | $395M | - | ||
| Publicly listed | $272M | $60M | $348M | 0.8x | ||
| Publicly listed | $78M | $10M | $342M | 2.7x | ||
| Private | $15M | - | $465M | 31.0x | ||
| Private | - | - | $311M | - |
Elation Health Public Comps
Elation Health is still privately-owned, but its public comps include Software Service, Vitalhub, Goodwill E-Health Info, Veradigm, EM Systems Co., Heren Health, Eucalia, CE Holdings, Phreesia and Kanamic Network.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $272M | $60M | 0.9x | 0.8x | 4.1x | 5.9x | |||
| $78M | $10M | 3.2x | 2.7x | 23.5x | 10.7x | |||
| $60M | ($35M) | 5.8x | 5.6x | (10.1x) | (19.1x) | |||
| $588M | $54M | 0.9x | 0.9x | 9.8x | 6.8x | |||
| $152M | $31M | 1.5x | 1.6x | 7.2x | 9.0x | |||
| $65M | $11M | 7.4x | - | 42.4x | - | |||
| $159M | $29M | 2.0x | 1.6x | 10.9x | 10.9x | |||
| $102M | $18M | 1.5x | 1.5x | 8.1x | - | |||
This data is available for Pro users. Sign up to see all Elation Health competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Elation Health
| When was Elation Health founded? | Elation Health was founded in 2010. |
| Where is Elation Health headquartered? | Elation Health is headquartered in San Francisco, CA, United States. |
| Is Elation Health publicly listed? | No, Elation Health is a private, VC-backed company. |
| What is Elation Health's valuation? | Elation Health was last valued at $395M in its Series D in July 2022. |
| How much funding has Elation Health raised? | Elation Health has raised $105M across 3 funding rounds. |
| What was Elation Health's last funding round? | Elation Health's last funding round was a $50M Series D in July 2022, led by Ascension Ventures and Generation Investment Management. |
| Who are Elation Health's investors? | Elation Health's investors include Threshold, Generation Investment Management, Ascend Partners, Martha H. Marsh, Kapor Capital, Fay Rotenberg, Charlie Cheever, Jonathan Bush, Hyphen Capital and Ascension Ventures. |
| Which companies are comparable to Elation Health? | Companies comparable to Elation Health include HeyDonto, Eko Health, Software Service, Vitalhub, Heidi Health and Redox. |
| How many companies has Elation Health acquired? | Elation Health has acquired 2 companies, including Aster and Lightning MD. |
See companies similar to Elation Health
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




