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- Luma Health
Luma Health Funding, Investors & Competitors
Luma Health has raised $159M across 5 funding rounds, most recently a $130M Series C in November 2021.
Last Luma Health funding round
$130M
Series C · Nov 2021
Cumulative funding Luma Health raised
$159M
across 5 funding rounds
Key investors in Luma Health
U.S. Venture Partners
Alumni Ventures
StartX (Stanford-StartX Fund)
Cisco Investments
Azure Capital Partners
PeakSpan Capital
Texas Medical Center
Shorooq Partners
About Luma Health
Luma Health is a patient engagement platform offering automated scheduling, messaging, and reminders for healthcare providers. Headquartered in San Francisco, it integrates with electronic health records for virtual waiting rooms and post-visit follow-ups across clinics nationwide.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Luma Health Funding History
Luma Health has raised a total of $159M across 5 funding rounds.
Luma Health's first fundraising round was a $3M seed round in February 2017. The most recent completed round was a $130M Series C in November 2021.
Luma Health funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Nov 2021 | Series C | FTV Capital (lead); Cisco Investments; Texas Medical Center; Alumni Ventures; U.S. Venture Partners; PeakSpan Capital | $130M | Luma Health is a San Francisco-based patient engagement platform founded in 2015 that automates provider-patient communications, including appointment reminders, scheduling, mobile intake, telehealth, and post-visit outreach. The platform integrates with over 80 electronic health records (EHRs) and serves 550 hospital networks, health systems, federally qualified health centers, and clinics, including clients like Banner Health, Franciscan Alliance, and Montefiore Medical Center. It has demonstrated strong performance metrics such as reducing no-shows by 79%, increasing referral conversion by 1.7x, achieving an average NPS of 89, and delivering over 6x ROI depending on appointment value. On November 23, 2021, Luma Health raised $130 million in a Series C funding round led by FTV Capital, with participation from existing investors including Alumni Ventures, Cisco Investments, PeakSpan Capital, Texas Medical Center, and U.S. Venture Partners. This brought the company's total funding to $160 million. The round followed explosive growth, including 2x year-over-year growth since founding and nearly 900% three-year growth, earning recognition on the Inc. 5000 list of fastest-growing private companies. The funding aims to scale the platform internationally, double headcount over the next two years, continue product development, and ensure equitable access to care. Luma Health is on track to connect nearly a quarter of all Americans to care in 2022. FTV Capital highlighted Luma's comprehensive platform and positive customer feedback as key differentiators in the patient engagement landscape. The investment supports Luma's vision of transforming fragmented patient journeys into unified, seamless experiences amid rising demand for telehealth and remote monitoring driven by the pandemic and governmental incentives. The global patient engagement platform market is projected to reach $23.1 billion by 2027 at a 9.9% CAGR. |
| Aug 2019 | Series B | PeakSpan Capital (lead); Cisco Investments; Texas Medical Center; Alumni Ventures; U.S. Venture Partners | $16M | Luma Health, a total patient engagement platform, raised $16 million in Series B equity funding on August 27, 2019, led by PeakSpan Capital, with participation from Cisco Investments, Texas Medical Center, and U.S. Venture Partners. This round brought total equity funding to $25.7 million. The company provides a smart, simple, and flexible solution for patient-provider communication, including real-time electronic health record integration to address scheduling inefficiencies and unused capacity in clinics and health systems. At the time, Luma Health partnered with over 300 healthcare organizations across the US, reaching more than 7.5 million patients, reflecting 150% growth in the past year. The funding will support scaling operations, hiring software developers and sales staff, and pursuing larger health system clients. Cofounded by Adnan Iqbal and Dr. Tashfeen Ekram, the platform aims to reduce patient wait times of two-and-a-half to 12 weeks and 15-30% unused capacity rates by connecting available care with waiting patients. |
| May 2018 | Series A | U.S. Venture Partners (lead); Temerity Capital Partners; StartX (Stanford-StartX Fund) | $6M | - |
| Sep 2017 | Seed | Shorooq Partners; Azure Capital Partners | $3M | Luma Health raised $3.4 million in a Seed round led by Azure Capital Partners and Shorooq Partners around August 2017. The company, based in San Francisco, provides HIPAA-compliant communication tools via text messaging and secure chat to facilitate patient connections without complex portals. This Seed funding followed or coincided with a $3.37 million Convertible Note also involving Azure Capital Partners and StartX. |
| Feb 2017 | Seed | Azure Capital Partners (lead); StartX (Stanford-StartX Fund) | $3M | Luma Health raised a convertible note of $3.37 million on February 15, 2017, from Azure Capital Partners and StartX. This round matches the specified investors and approximate date. Luma Health provides HIPAA-compliant communication tools via text messaging and secure chat for healthcare providers. The company later raised additional rounds, including a $3.4 million seed from Azure Capital Partners and Shorooq in August 2017, a $6.33 million Series A, $16 million Series B, and $130 million Series C in November 2021 led by FTV Capital. |
Who has invested in Luma Health?
10 investors have backed Luma Health across its funding rounds, including U.S. Venture Partners, Alumni Ventures, StartX (Stanford-StartX Fund), Cisco Investments, Azure Capital Partners and PeakSpan Capital.
Lead investors include FTV Capital, PeakSpan Capital, U.S. Venture Partners and Azure Capital Partners.
Luma Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | May 2018 | ||
| 2 | Lead | Feb 2017 | ||
| 2 | Participant | Aug 2019 | ||
| 2 | Participant | Aug 2019 | ||
| 2 | Participant | Aug 2019 | ||
| 2 | Participant | Feb 2017 | ||
| 2 | Lead | Aug 2019 | ||
| 1 | Participant | Sep 2017 | ||
This data is available for Pro users. Sign up to see all 10 Luma 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 Luma Health
Luma Health has acquired 1 company to date.
Last acquisition by Luma Health was on November 12th 2025. Luma Health acquired Tonic Health for undisclosed valuation.
Latest Acquisitions by Luma Health
| Description | Tonic Health is a Boston-based digital health platform addressing medical data collection challenges through patient engagement software. Developed by scientists and UI experts, the system boosts response rates above 80 percent via personalized surveys, gamified interfaces, and real-time analytics for clinical trials and telemedicine. Integrated with EHR systems like Epic and Cerner, it serves pharmaceutical firms and hospitals to tailor care plans based on patient-reported outcomes. |
| HQ Country | |
| HQ City | San Francisco, CA |
| Deal Date | 12 Nov 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Luma Health acquisitions and their M&A valuation multiples. Start Free Trial | |
Luma Health Competitors
Luma Health competitors include listed companies like Guiyang Longmaster and Medley Inc., and private ones like Doctolib, Cityblock Health, Grow Therapy and eMed.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $400M | - | $6.4B | 16.0x | ||
| Private | - | - | $5.7B | - | ||
| Private | $1B | - | $3B | - | ||
| Private | - | - | $2B | - | ||
| Publicly listed | $44M | $5M | $482M | - | ||
| Publicly listed | $236M | $32M | $459M | 1.8x |
Luma Health Public Comps
Luma Health is still privately-owned, but its public comps include IQVIA, Veeva, IDEXX Laboratories, Roper Technologies, GE HealthCare, ICON plc, Pro Medicus, United Imaging, Max Healthcare Institute and Oscar Health.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $16B | $3.4B | 3.6x | 3.4x | 17.2x | 14.8x | |||
| $3.2B | $965M | 11.1x | 10.2x | 36.9x | 22.4x | |||
| $4.3B | $1.5B | 9.5x | 8.9x | 27.1x | 24.9x | |||
| $7.9B | $3.2B | 6.1x | 5.7x | 15.2x | 14.6x | |||
| $21B | $3.7B | 1.8x | 1.8x | 10.1x | 10.0x | |||
| $8.3B | $816M | 1.9x | 1.9x | 19.2x | 11.3x | |||
| $186M | $147M | 66.6x | 62.7x | 84.4x | 77.6x | |||
| $2.1B | $367M | 5.5x | 4.8x | 30.7x | 26.9x | |||
This data is available for Pro users. Sign up to see all Luma Health competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Luma Health
| When was Luma Health founded? | Luma Health was founded in 2015. |
| Where is Luma Health headquartered? | Luma Health is headquartered in San Francisco, CA, United States. |
| Is Luma Health publicly listed? | No, Luma Health is a private, VC-backed company. |
| How much funding has Luma Health raised? | Luma Health has raised $159M across 5 funding rounds. |
| What was Luma Health's last funding round? | Luma Health's last funding round was a $130M Series C in November 2021, led by FTV Capital. |
| Who are Luma Health's investors? | Luma Health's investors include U.S. Venture Partners, Azure Capital Partners, Cisco Investments, Texas Medical Center, Alumni Ventures, StartX (Stanford-StartX Fund), PeakSpan Capital, Shorooq Partners, Temerity Capital Partners and FTV Capital. |
| Which companies are comparable to Luma Health? | Companies comparable to Luma Health include Doctolib, Cityblock Health, Grow Therapy, eMed, Guiyang Longmaster and Medley Inc.. |
| How many companies has Luma Health acquired? | Luma Health has acquired 1 company, including Tonic Health. |
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