Hazel Health Valuation, Funding & Investors
Hazel Health is valued at $554M as of June 2025.
Last Hazel Health valuation
$554M
Undisclosed stage · Jun 2025
Last Hazel Health funding round
$35M
Undisclosed stage · Jun 2025
Cumulative funding Hazel Health raised
$120M
across 3 funding rounds
Key investors in Hazel Health
Bain Capital Ventures
Owl Ventures
Centene
Tao Capital Partners
HLM Venture Partners
Uprising Ventures
About Hazel Health
Hazel Health is a San Francisco-headquartered telehealth provider for K-12 schools across the United States. It connects students to board-certified clinicians via video for treating illnesses like flu, allergies, and mental health concerns. Hazel Health partners with over 300 districts in states including California and Texas, dispensing prescriptions through school dispensaries. Launched in 2019, it conducts 500,000 visits annually with 24/7 coverage.
Founded
2015
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$554M (Jun 2025)
Hazel Health Valuation
Hazel Health is currently valued at $554M, based on its undisclosed-stage round in June 2025.
Hazel Health's valuation has grown 1.6x from $353M at its Series C in October 2022 to $554M in June 2025, across 2 priced rounds.
Hazel Health valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2025 | Undisclosed stage | $554M |
| Oct 2022 | Series C | $353M |
Hazel Health Funding History
Hazel Health has raised a total of $120M across 3 funding rounds.
Hazel Health's first fundraising round was a $34M Series C in September 2020. The most recent completed round was a $35M undisclosed-stage round in June 2025.
Hazel Health funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2025 | Undisclosed stage | - | $35M | $554M | Hazel Health is a school-based telehealth provider partnering with school districts and health plans to deliver mental and physical health services to K-12 students at school and home, emphasizing healthcare equity regardless of income, geography, insurance, or immigration status. The company, based in Irving, Texas, raised $34.5 million in a funding round on June 11, 2025, as per initial filing disclosures. Prior funding includes a $51.5 million Series C1 in 2022, contributing to at least $86 million raised by early 2025 and total funding cited as $116.5 million as of June 2024. A Forge Global source lists a $553.95 million Series D valuation in December 2025, though no details on investors or round size provided. In 2025, Hazel expanded operations by becoming an approved vendor for public schools in Georgia, Texas ESC Region 1, Virginia, and partnering with Chicago Public Schools. The company pursued growth through acquisitions, including BeMe Health (which raised $12.5 million Series A in August 2024) and Little Otter, a youth mental health startup offering coaching, therapy, and psychiatric services founded in 2020. These moves aim to broaden capabilities in pediatric behavioral health. Hazel also appointed Iyah Romm, former Cityblock Health CEO, as its new CEO. No sources report post-money valuation for the June 2025 round, revenue, ARR, EBITDA, or valuation multiples near October 2025 or the round date. Secondary market trackers like Premier Alternatives list current valuation as N/A as of June 2024. |
| Oct 2022 | Series C | UCSF Foundation Investment Company; Tao Capital Partners; HLM Venture Partners; Firework Ventures; Children's Memorial Health Institute; Owl Ventures; Memorial Hermann Hospital; Carrie Penner; Bain Capital Ventures; California HealthCare Foundation; Centene; Hopelab | $52M | $353M | Hazel Health is a San Francisco-based school-based telehealth provider delivering mental and physical health care services to K-12 students. The company was founded to address critical gaps in pediatric healthcare access by bringing services directly to schools, where students spend significant time. In September 2021, Hazel launched digital mental health support services alongside its existing physical health offerings, positioning itself at the intersection of the youth mental health crisis and post-pandemic demand for accessible care. On October 27, 2022, Hazel Health closed a $51.5 million Series C1 funding round at a post-money valuation of $353.36 million. The round included participation from Tao Capital Partners, Owl Ventures, Firework Ventures, Children's Memorial Hermann, and Carrie Walton Penner through Fiore Ventures, alongside existing investors Bain Capital Ventures, Centene Corporation, HLM Venture Partners, HopeLab, Uprising, California Healthcare Foundation (CHCF), and UCSF Foundation Investment Company. Leadership included CEO Josh Golomb and Chief Health Officer Dr. Travis Gayles. At the time of the Series C1 round, Hazel Health had achieved significant scale, operating in 14 states across more than 3,000 schools and reaching nearly 2.5 million students. The company had recently provided 15,000 mental health sessions during the 2021-2022 school year and had secured partnerships with major healthcare systems including Children's Memorial Hermann and Memorial Hermann Health System. The company's services had become accessible to more than 10% of K-12 students in the states where it operated, with coverage through a combination of insurance reimbursement, school district funding, and federal initiatives. By this point, Hazel had raised a cumulative total of $112.5 million since inception, including a prior $33.5 million Series C round closed in September 2020. The Series C1 funding was designated for continued national expansion, technology stack investment, workforce expansion, and product innovation. The company's mission centered on ensuring equitable access to pediatric care regardless of family income or background, with the strategic positioning that Hazel would support rather than replace existing local healthcare providers. |
| Sep 2020 | Series C | Bain Capital Ventures (lead); Owl Ventures (lead); University of California, San Francisco; Uprising Ventures; Centene | $34M | - | Hazel Health, a pediatric telehealth provider, raised $33.5 million in a Series C funding round announced on September 1, 2020, led by Bain Capital Ventures and Owl Ventures, with participation from Centene, UCSF Foundation Investment Company, and Uprising Ventures. The company delivers virtual care clinics inside school nurses' offices via iPad-based telehealth stations, connecting students to physicians for pediatric, family practice, and emergency medicine services. It also launched Hazel at Home, an at-home telemedicine program for students and families, partnering with school districts and insurers to address care gaps, particularly for low-income and underserved communities. At the time of the round, Hazel Health had grown its business by 400% since June 2020, expanding to serve school districts representing 1.5 million students across more than 40 U.S. states, with plans to reach 30 million students in additional states like Florida, New York, Washington, and Illinois. The company reported high engagement, with 90% family enrollment and 70% first-year usage—far above the 10% telehealth industry standard—and over 40% of families lacking a primary care physician, often relying on costly ER visits. Its work with Medicaid providers, including Centene, the largest Medicaid insurer, was a key factor in attracting investment. The funding was intended to scale operations, expand geographic footprint, enhance product capabilities to handle increased volume amid COVID-19-driven distance learning, and invest in preventative healthcare access through school partnerships. Hazel positioned itself as a 'virtual chief medical officer' for schools, advising on testing and safe reopening. Founded five years prior by former Apple engineer Nick Woods and CEO Josh Golomb, the startup leveraged the pandemic's acceleration of telehealth demand, amid a sector that saw record $1.9 billion in investments in H1 2020. |
Who has invested in Hazel Health?
14 investors have backed Hazel Health across its funding rounds, including Bain Capital Ventures, Owl Ventures, Centene, Tao Capital Partners, HLM Venture Partners and Uprising Ventures.
Lead investors include Bain Capital Ventures and Owl Ventures.
Hazel Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 2 | Lead | Sep 2020 | |
| San Francisco, CA | 2 | Lead | Sep 2020 | |
| United States | 2 | Participant | Sep 2020 | |
| United States | 1 | Participant | Oct 2022 | |
| San Francisco, CA | 1 | Participant | Oct 2022 | |
| Boston, MA | 1 | Participant | Oct 2022 | |
| San Francisco, CA | 1 | Participant | Oct 2022 | |
 Warsaw | 1 | Participant | Oct 2022 | |
| Houston, TX | 1 | Participant | Oct 2022 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Carrie Penner | Denver, CO | 1 | Participant | Oct 2022 |
| San Francisco, CA | 1 | Participant | Sep 2020 | |
| San Francisco, CA | 1 | Participant | Sep 2020 | |
This data is available for Pro users. Sign up to see all 14 Hazel Health investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Hazel Health
Hazel Health has acquired 1 company to date.
Last acquisition by Hazel Health was on October 14th 2025. Hazel Health acquired Little Otter for undisclosed valuation.
Latest Acquisitions by Hazel Health
| Description | Little Otter Health delivers pediatric mental health services through a mobile app connecting families to therapists, psychiatrists, and coaches nationwide in the United States. San Francisco-headquartered, the platform provides evidence-based care developed with input from child psychiatrist Dr. Helen Egger, including assessments, therapy sessions, and family support resources. Launched in 2020, it serves children aged 0-14 with virtual care options. |
| HQ Country | |
| HQ City | San Francisco, CA |
| Deal Date | 14 Oct 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Hazel Health acquisitions and their M&A valuation multiples. Start Free Trial | |
Hazel Health Competitors
Hazel Health competitors include listed companies like JMDC and BlinkLab, and private ones like MediBuddy, Practo, Levels and Superpower.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Bangalore | Private | - | - | $450M | - | |
| Bangalore | Private | $25M | $2M | $310M | 12.4x | |
| United States | Private | - | - | $300M | - | |
| Los Angeles, CA | Private | - | - | $300M | - | |
 Japan | Publicly listed | $324M | $88M | $1.5B | 4.6x | |
 Australia | Publicly listed | $848K | ($5M) | $87M | 87.2x |
Hazel Health Public Comps
Hazel Health is still privately-owned, but its public comps include Veradigm, Bayzed Health Group, Guiyang Longmaster, Medley Inc., Yidu Tech, TaiDoc Technology, Evolent Health, Cogstate, SOPHiA Genetics and Talkspace.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $588M | $54M | 0.9x | 0.9x | 9.8x | 6.8x | |||
| $167M | $18M | 3.0x | - | 28.4x | - | |||
| $44M | $5M | 10.0x | - | 87.9x | - | |||
| $236M | $32M | 2.1x | 1.8x | 15.7x | 13.2x | |||
| $122M | ($4M) | 1.4x | 1.2x | (45.0x) | 7.7x | |||
| $132M | $58M | 2.1x | - | 4.8x | - | |||
| $1.9B | ($365M) | 0.7x | 0.5x | (3.5x) | 9.4x | |||
| $58M | $18M | 6.3x | 5.7x | 20.0x | 18.9x | |||
This data is available for Pro users. Sign up to see all Hazel Health competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Hazel Health
| When was Hazel Health founded? | Hazel Health was founded in 2015. |
| Where is Hazel Health headquartered? | Hazel Health is headquartered in San Francisco, CA, United States. |
| Is Hazel Health publicly listed? | No, Hazel Health is a private, VC-backed company. |
| What is Hazel Health's valuation? | Hazel Health was last valued at $554M in its undisclosed-stage round in June 2025. |
| How much funding has Hazel Health raised? | Hazel Health has raised $120M across 3 funding rounds. |
| What was Hazel Health's last funding round? | Hazel Health's last funding round was a $35M undisclosed-stage round in June 2025. |
| Who are Hazel Health's investors? | Hazel Health's investors include Owl Ventures, Bain Capital Ventures, Centene, UCSF Foundation Investment Company, Tao Capital Partners, HLM Venture Partners, Firework Ventures, Children's Memorial Health Institute, Memorial Hermann Hospital, Carrie Penner and 4 others. |
| Which companies are comparable to Hazel Health? | Companies comparable to Hazel Health include MediBuddy, Practo, Levels, Superpower, JMDC and BlinkLab. |
| How many companies has Hazel Health acquired? | Hazel Health has acquired 1 company, including Little Otter. |
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