Monogram Health Funding, Investors & Competitors

Monogram Health has raised $547M across 4 funding rounds, most recently a $375M Series C in January 2023.

Last Monogram Health funding round

$375M

Series C · Jan 2023

Cumulative funding Monogram Health raised

$547M

across 4 funding rounds

Key investors in Monogram Health

Monogram Health Overview

About Monogram Health

Monogram Health is a Nashville-based value-based care provider specializing in in-home services for chronic kidney disease and end-stage renal disease patients. Operating across 34 states, it partners with health plans like UnitedHealthcare and Humana to deliver complex case management, medication therapy, and utilization review through its technology platform. Founded in 2018, the company employs nephrologists and care coordinators for evidence-based interventions that extend time to dialysis and reduce hospitalizations. Monogram serves Medicare Advantage and Medicaid populations with remote monitoring and 24/7 support.


Founded

2019

HQ

United StatesUnited States

Status

Privately held

Customer focus

B2B

Revenue model

Services

Monogram Health Funding History

Monogram Health has raised a total of $547M across 4 funding rounds.

Monogram Health's first fundraising round was a $5M Series A in February 2019. The most recent completed round was a $375M Series C in January 2023.

Monogram Health funding rounds

Monogram Health funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2023Series CFrist Cressey Ventures; Humana Inc.; CVS Health; Heritage Group; Norwest; Memorial Hermann Hospital; Cigna Ventures; TPG; Pura Vida Investments; Scan$375MMonogram Health, a Nashville-based value-based specialty provider, closed a $375 million Series C growth funding round on January 9, 2023. The company delivers in-home evidence-based care and benefit management services for patients with polychronic conditions, particularly those with chronic kidney disease and end-stage renal disease. The round included investments from strategic healthcare investors CVS Health, Cigna Ventures, Humana, Memorial Hermann Health System, and SCAN, alongside financial investors TPG Capital, Frist Cressey Ventures, Heritage Group, Pura Vida Investments, and Norwest Venture Partners. Monogram's value-based care model combines remote biometrics monitoring, algorithm-based risk prediction, and medical specialist review to enable at-home disease management. The company's clinical services encompass complex case and disease management, utilization management, and medication therapy management. As of the funding announcement, Monogram operated across 34 states in 4,000 U.S. cities, serving patients across all insurance products through partnerships with health plans and risk-bearing providers. The company's investor syndicate collectively served over 30% of the country's Medicare Advantage members and more than 40% of the total U.S. population. The funding proceeds were designated for rapid and widespread deployment of Monogram's in-home kidney and polychronic care delivery model and its technology-driven clinical services. The company had previously raised $160 million in Series B funding in June 2021, bringing total funding to $557 million by the time of the Series C close. Monogram demonstrated clinical results showing dramatically improved patient outcomes and quality of life while reducing medical costs across the health care continuum. The company had announced value-based partnerships with Humana, Point32Health, and AdventHealth in the months preceding the funding round, supporting its geographic and partnership expansion strategy.
Jun 2021Series BTPG (lead); Frist Cressey Ventures; Humana Inc.; Norwest$160MMonogram Health is a Nashville-based kidney disease benefit management and care delivery company that transforms care for individuals with chronic kidney and end-stage renal disease through value-based, in-home, multi-specialty care. It partners with health plans, physician practices, dialysis providers, and health systems to provide at-home clinical managed services, nephrology care, and data-driven solutions using AI and evidence-based criteria. The company closed a $160 million Series B funding round on June 8, 2021, led by TPG Capital with participation from Frist Cressey Ventures, Humana Inc., and Norwest, to fuel acceleration of its next-generation kidney care model. In 2021, Monogram Health reported revenue of more than $21 million, marking significant growth from $4.9 million in 2020. This positioned the company for rapid scaling amid opportunities like the 21st Century Cures Act enabling Medicare beneficiaries with end-stage renal disease to join Medicare Advantage plans. The firm demonstrated explosive growth, with revenue reaching $310 million in 2022, over $2 billion in 2023, and more than $3 billion in 2024, achieving over 14,933% growth from 2021-2024 and ranking as the fastest-growing company in Nashville per the Nashville Business Journal and No. 7 on the 2025 Inc. 5000 list. Monogram Health has expanded to employ around 1,500 people across 36 states, focusing on strategic partnerships with major health plans and systems. It emphasizes profitable, value-based care improving patient outcomes, such as 98% growth in enrolled patients and 21.8% reduction in hospital readmissions in recent years. Total funding stands at approximately $542-547 million across rounds, including an earlier $8.1 million debt round in early 2021 and a $375 million recent round, supporting its leadership in managing complex chronic conditions beyond just kidney disease.
May 2020Series AFrist Cressey Ventures (lead); Norwest (lead)$7MMonogram Health is a Nashville-based company providing in-home kidney care management for patients with chronic kidney disease and end-stage renal disease, using technology-driven programs including case management, disease management, utilization management, and medication therapy management. In May 2020, it closed a $7 million Series A-1 funding round co-led by Frist Cressey Ventures and Norwest Venture Partners to grow health plan partnerships and manage care for vulnerable patients amid the COVID-19 pandemic. The round supported expansion of in-home engagement and services during heightened isolation. Monogram reported $4.9 million in revenue in 2020, reflecting early traction in value-based care partnerships across multiple states.
Feb 2019Series AFrist Cressey Ventures (lead)$5MMonogram Health is a kidney disease benefit management and in-home care delivery company focused on chronic kidney disease and end-stage renal disease patients. The company provides data-driven clinical services including complex case management, utilization management, and medication therapy management, operating a national network of nephrologists, nurses, dieticians, pharmacists, and social workers. In February 2019, Monogram Health completed its Series A funding round with participation from Frist Cressey Ventures, followed by a Series A-1 round in May 2020 raising $7 million co-led by Frist Cressey Ventures and Norwest Venture Partners, bringing total funds raised in 15 months to $12 million. Frist Cressey Ventures, co-founded by Senator Bill Frist, M.D., who serves as Monogram's board chairman, supported the early growth to advance kidney health services and at-home care. The funding aimed to expand kidney care accessibility, lower costs, and improve patient outcomes amid a shift toward home-based healthcare.

Who has invested in Monogram Health?

10 investors have backed Monogram Health across its funding rounds, including Frist Cressey Ventures, Norwest, TPG, Humana Inc., Heritage Group and Cigna Ventures.

Lead investors include TPG, Frist Cressey Ventures and Norwest.


Monogram Health Investors

Investors in Monogram Health by funding rounds participated
InvestorHQRoundsRoleFirst check
Frist Cressey VenturesUnited StatesNashville, TN4LeadFeb 2019
NorwestUnited StatesSan Francisco, CA3LeadMay 2020
Humana Inc.United StatesUnited States2ParticipantJun 2021
TPGUnited StatesSan Francisco, CA2LeadJun 2021
CVS HealthUnited StatesProvidence, RI1ParticipantJan 2023
Heritage GroupUnited StatesNashville, TN1ParticipantJan 2023
Memorial Hermann HospitalUnited StatesHouston, TX1ParticipantJan 2023
Cigna VenturesUnited StatesHartford, CT1ParticipantJan 2023

This data is available for Pro users. Sign up to see all 10 Monogram 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 Trial

Monogram Health Competitors

Monogram Health competitors include listed companies like UnitedHealth Group, Rollins, Service Corporation International and Molina Healthcare, and private ones like Devoted Health and Ping An Healthcare Management.

Public and private companies comparable to Monogram Health
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
UnitedHealth GroupUnited StatesUnited StatesPublicly listed$448B$23B$337B0.9x
RollinsUnited StatesUnited StatesPublicly listed$3.8B$854M$16B4.2x
Devoted HealthUnited StatesBoston, MAPrivate$3.3B-$13B4.0x
Service Corporation InternationalUnited StatesUnited StatesPublicly listed$4.3B$1.3B$11B3.6x
Molina HealthcareUnited StatesUnited StatesPublicly listed$45B$976M$11B0.1x
Ping An Healthcare ManagementChinaShanghaiPrivate--$8.8B-

Monogram Health Public Comps

Monogram Health is still privately-owned, but its public comps include UnitedHealth Group, Rollins, Service Corporation International, Molina Healthcare, Fortis Healthcare, Clover Health, Alignment Healthcare, Carriage Services, Angi and HomeMaid.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
UnitedHealth Group$448B$23B0.9x0.9x16.7x13.3x
Rollins$3.8B$854M4.5x4.2x19.8x19.1x
Service Corporation International$4.3B$1.3B3.7x3.6x11.9x11.7x
Molina Healthcare$45B$976M0.1x0.1x5.9x7.2x
Fortis Healthcare$943M$215M7.8x7.1x34.1x31.0x
Clover Health$1.9B($84M)1.1x0.8x(25.8x)34.1x
Alignment Healthcare$3.9B$45M0.4x0.3x31.6x10.0x
Carriage Services$417M$124M2.5x2.4x8.3x7.7x

This data is available for Pro users. Sign up to see all Monogram Health competitors and their valuation data.

Start Free Trial

Common questions about Monogram Health

When was Monogram Health founded?Monogram Health was founded in 2019.
Where is Monogram Health headquartered?Monogram Health is headquartered in United States.
Is Monogram Health publicly listed?No, Monogram Health is a private, VC-backed company.
How much funding has Monogram Health raised?Monogram Health has raised $547M across 4 funding rounds.
What was Monogram Health's last funding round?Monogram Health's last funding round was a $375M Series C in January 2023.
Who are Monogram Health's investors?Monogram Health's investors include Frist Cressey Ventures, Norwest, Humana Inc., TPG, CVS Health, Heritage Group, Memorial Hermann Hospital, Cigna Ventures, Pura Vida Investments and Scan.
Which companies are comparable to Monogram Health?Companies comparable to Monogram Health include UnitedHealth Group, Rollins, Devoted Health, Service Corporation International, Molina Healthcare and Ping An Healthcare Management.

See companies similar to Monogram 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.

Start Trial