- Companies
- Neuehealth
Neuehealth Acquisition, Valuation, Funding & Investors
Neuehealth was acquired by New Enterprise Associates for $1.3B in December 2024, a 5.4x multiple on $242M of revenue.
Neuehealth acquisition price
$1.3B
Acquired by New Enterprise Associates · Dec 2024
Neuehealth revenue at acquisition
$242M
Last twelve months · Dec 2024
Neuehealth revenue multiple at acquisition
5.4x
EV/Revenue · Dec 2024
Cumulative funding Neuehealth raised
$1.5B
across 4 funding rounds
About Neuehealth
Neuehealth is a Minneapolis-headquartered health insurer focused on Medicare Advantage and Medicaid plans for seniors and underserved communities in 14 U.S. states. The company partners with providers like Centura Health and Sanford Health to manage integrated care networks in markets including Colorado and North Carolina. Neuehealth utilizes platforms for virtual care and pharmacy benefits, serving over one million members through its Bright HealthCare brand.
Founded
2015
HQ
Website
Status
Acquired
Customer focus
B2C
Revenue model
Subscription
Revenue
$242M (Dec 2024)
Valuation
$950M (Nov 2018)
Sectors
Neuehealth Acquisition
Neuehealth was acquired by New Enterprise Associates for $1.3B on 23 December 2024.
The acquisition price implies a 5.4x revenue multiple on $242M of revenue.
Before the acquisition Neuehealth had raised $1.5B across 4 funding rounds.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 23 Dec 2024 | PE buyout | $1.3B | 5.4x |
Neuehealth Valuation
Neuehealth is currently valued at $950M, based on its Series C in November 2018.
The $200M round was led by Declaration Partners and Meritech Capital Partners, with participation from Redpoint, Greenspring Associates, Town Hall Ventures, New Enterprise Associates, Flare Capital Partners and 4 other investors.
Neuehealth valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2018 | Series C | $950M |
Neuehealth Funding History
Neuehealth has raised a total of $1.5B across 4 funding rounds.
Neuehealth's first fundraising round was a $160M Series B in June 2017. The most recent completed round was a $500M Series E in September 2020.
Neuehealth funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2020 | Series E | New Enterprise Associates (lead); Greenspring Associates; Blackstone; T. Rowe Price; Bessemer Venture Partners; Tiger Global; Headline | $500M | - | - |
| Dec 2019 | Series D | New Enterprise Associates (lead); Declaration Partners; Redpoint; Greenspring Associates; Town Hall Ventures; Flare Capital Partners; Bessemer Venture Partners; Cross Creek; Meritech Capital Partners | $635M | - | - |
| Nov 2018 | Series C | Declaration Partners (lead); Meritech Capital Partners (lead); Redpoint; Greenspring Associates; Town Hall Ventures; New Enterprise Associates; Flare Capital Partners; Greycroft; Bessemer Venture Partners; Headline; Cross Creek | $200M | $950M | NeueHealth (NYSE:NEUE), formerly Bright Health, operates a consumer-centric healthcare platform focused on value-based care, including NeueCare (capitated and ACO REACH revenue) and NeueSolutions segments, serving consumers across ACA, Medicare, and Medicaid with coordinated care models. The company went public via SPAC merger and reports segmented financials, with recent emphasis on profitability through adjusted EBITDA. Recent financials show 2024 annual revenue of $936.66M (down 19.31% YoY), 2023 revenue of $1.16B, and LTM revenue as of mid-2025 at $890.44M; Q2 2025 revenue was $209.1M (down 7.5% YoY), with six-month revenue at $424.9M. Company traction includes serving 694,000 consumers in Q2 2025 (up 45% YoY), with expansions in clinics and partnerships for value-based care; market cap ~$60.73M recently, P/S ratio 0.06. |
| Jun 2017 | Series B | Greenspring Associates (lead); Redpoint; New Enterprise Associates; Flare Capital Partners; Greycroft; Bessemer Venture Partners; Headline; Cross Creek | $160M | - | NeueHealth is a value-driven healthcare company focused on consumer-centric care through owned and affiliated clinics (NeueCare) and enabling independent providers via performance-based arrangements (NeueSolutions). It originated as part of Bright Health Group's care delivery business, with roots in acquiring a Florida medical practice in 2019 and rebranding to NeueHealth in 2020. The company aligns payors, providers, and consumers to deliver coordinated, high-quality care in value-based models. As of April 2021, it operated 28 managed clinics serving 75,000 patients and supported 33 clinics through its value services organization, working with over 200,000 providers. Bright Health, the parent entity, raised $1.6B total by 2021, with key investors overlapping those listed. Later developments include a $1.4B+ acquisition by NEA affiliates announced in late 2024, closing at an enterprise value of $1.465B. |
Who has invested in Neuehealth?
14 investors have backed Neuehealth across its funding rounds, including New Enterprise Associates, Bessemer Venture Partners, Greenspring Associates, Headline, Redpoint and Flare Capital Partners.
Lead investors include New Enterprise Associates, Declaration Partners, Meritech Capital Partners and Greenspring Associates.
Neuehealth Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jun 2017 | ||
| 4 | Lead | Jun 2017 | ||
| 4 | Participant | Jun 2017 | ||
| 3 | Participant | Jun 2017 | ||
| 3 | Participant | Jun 2017 | ||
| 3 | Participant | Jun 2017 | ||
| 3 | Participant | Jun 2017 | ||
| 2 | Lead | Nov 2018 | ||
| 2 | Participant | Nov 2018 | ||
| 2 | Participant | Jun 2017 | ||
| 2 | Lead | Nov 2018 | ||
| 1 | Participant | Sep 2020 | ||
This data is available for Pro users. Sign up to see all 14 Neuehealth investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialNeuehealth Competitors
Neuehealth competitors include listed companies like Alignment Healthcare and Clover Health, and private ones like Curative, Grand Rounds, MediTrust Health and Main Street Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.3B | - | ||
| Private | - | - | $1.3B | - | ||
| Private | $154M | - | $1.4B | 9.3x | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $3.9B | $45M | $1.8B | 0.3x | ||
| Publicly listed | $1.9B | ($84M) | $2.4B | 0.8x |
Neuehealth Public Comps
Neuehealth is no longer listed, but its public comps include Alignment Healthcare, Clover Health, Dc Healthcare Holdings, Genesis Fertility Center, Ontrak, Fortis Healthcare, Molina Healthcare and UnitedHealth Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.9B | $45M | 0.4x | 0.3x | 31.6x | 10.0x | |||
| $1.9B | ($84M) | 1.1x | 0.8x | (25.8x) | 34.1x | |||
| $21M | $4M | 1.3x | - | 7.0x | - | |||
| $11M | $3M | 1.2x | - | 5.2x | - | |||
| $11M | ($23M) | 0.5x | - | (0.2x) | - | |||
| $943M | $215M | 7.8x | 7.1x | 34.1x | 31.0x | |||
This data is available for Pro users. Sign up to see all Neuehealth competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Neuehealth
| When was Neuehealth founded? | Neuehealth was founded in 2015. |
| Where is Neuehealth headquartered? | Neuehealth is headquartered in Minneapolis, MN, United States. |
| Is Neuehealth publicly listed? | No, Neuehealth was acquired by New Enterprise Associates in December 2024. |
| Who acquired Neuehealth? | Neuehealth was acquired by New Enterprise Associates in December 2024. |
| How much was Neuehealth acquired for? | Neuehealth was acquired for $1.3B in December 2024, a 5.4x revenue multiple. |
| What is Neuehealth's valuation? | Neuehealth was last valued at $950M in its Series C in November 2018. |
| How much funding has Neuehealth raised? | Neuehealth has raised $1.5B across 4 funding rounds. |
| What was Neuehealth's last funding round? | Neuehealth's last funding round was a $500M Series E in September 2020, led by New Enterprise Associates. |
| Who are Neuehealth's investors? | Neuehealth's investors include Greenspring Associates, New Enterprise Associates, Bessemer Venture Partners, Redpoint, Flare Capital Partners, Headline, Cross Creek, Declaration Partners, Town Hall Ventures, Greycroft and 4 others. |
| Which companies are comparable to Neuehealth? | Companies comparable to Neuehealth include Curative, Grand Rounds, MediTrust Health, Main Street Health, Alignment Healthcare and Clover Health. |
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