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- Oshi Health
Oshi Health Funding, Investors & Competitors
Oshi Health has raised $120M across 5 funding rounds, most recently a $60M Series C in October 2024.
Last Oshi Health funding round
$60M
Series C · Oct 2024
Cumulative funding Oshi Health raised
$120M
across 5 funding rounds
Key investors in Oshi Health
Takeda Digital Ventures
Bessemer Venture Partners
Flare Capital Partners
Frist Cressey Ventures
CVS Health Ventures
Oak HC/FT
Operator Partners
Koch Disruptive Technologies
About Oshi Health
Oshi Health is a New York-based virtual gastroenterology practice treating IBS, IBD, and acid reflux remotely. Patients access gastroenterologists, dietitians, psychologists, and coaches via a platform integrating telehealth, wearables, and gut microbiome testing. The clinic develops personalized protocols combining medications, nutrition plans, and behavioral therapy for over 10,000 members.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Services, Subscription
Oshi Health Funding History
Oshi Health has raised a total of $120M across 5 funding rounds.
Oshi Health's first fundraising round was a $4M pre-seed round in December 2019. The most recent completed round was a $60M Series C in October 2024.
Oshi Health funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Oct 2024 | Series C | Oak HC/FT (lead); Frist Cressey Ventures; American Gastroenterological Association; Flare Capital Partners; Bessemer Venture Partners; CVS Health Ventures; Takeda Digital Ventures | $60M | Oshi Health is a virtual gastrointestinal (GI) center of excellence providing value-based care for chronic digestive conditions such as acid reflux, GERD, Crohn’s, ulcerative colitis, and irritable bowel syndrome. It operates as an extension of brick-and-mortar practices, offering a multidisciplinary model with gastroenterologists, psychologists, dietitians, unlimited virtual visits, and messaging support. Available across all 50 states, Oshi serves as an in-network benefit for 40 million Americans, with value-based contracts with major payers, employers like Dayforce, Koch, Nielsen, and TE Connectivity, and health systems. On October 16, 2024, Oshi Health raised $60 million in an unplanned Series C funding round led by Oak HC/FT, with participation from existing investors Bessemer Venture Partners, CVS Health Ventures, Flare Capital Partners, Frist Cressey Ventures, and Takeda Digital Ventures. This brings total funding to $119.5 million across five rounds. The capital will expand partnerships with provider groups, grow payer coverage, add employer partners, and enter Medicare populations in 2025, aiming for profitability by 2027. Oshi differentiates through proven clinical outcomes from a 2022 payer study showing $10,292 savings per patient annually by reducing avoidable testing, procedures, ER visits, and medications, with 92% symptom improvement and 98% patient satisfaction. It addresses a $136 billion U.S. GI market where nearly 30% of Americans have GI issues, it's a top employer cost driver, and the leading cause of treat-and-release ER visits. The model disrupts fee-for-service GI care by integrating behavioral health and dietetics for better outcomes and cost savings. |
| Apr 2023 | Series B | Koch Disruptive Technologies (lead); Frist Cressey Ventures; Flare Capital Partners; Bessemer Venture Partners; CVS Health Ventures; Takeda Digital Ventures | $30M | Oshi Health is a New York-based virtual specialty care company focused on gastrointestinal (GI) health, providing multidisciplinary care for conditions like Crohn's disease, IBS, ulcerative colitis, and celiac disease through gastroenterologists, behavioral health clinicians, dietitians, and health coaches. Patients access symptom tracking tools, instant messaging with providers, and coordinated care with local providers and pharmacies. Launched in 2019 or 2020, the company raised $30 million in a Series B round on April 11, 2023, led by Koch Disruptive Technologies with participation from Bessemer Venture Partners, CVS Health Ventures, Flare Capital Partners, Frist Cressey Ventures, and Takeda Digital Ventures, bringing total funding to $59.5 million. The funding supports scaling the clinical team across the U.S., expanding reach to employers, health plans, provider groups, and channel partners amid surging demand. A clinical study by a national health plan showed 92% symptom improvement, 98% patient satisfaction, and $10,292 all-cause medical cost savings per patient over six months, driving payer and employer contracts including a value-based care partnership with Aetna in select states. Oshi Health had onboarded over 1,200 patients by early 2023 at 200-300 monthly, targeting 5,000 by year-end, with recent platform growth since late 2022. |
| Oct 2021 | Series A | Bessemer Venture Partners (lead); Flare Capital Partners (lead); Frist Cressey Ventures (lead); Russell Glass; Jonathan Bush; Eric M. Stone; CVS Health Ventures; Operator Partners; Takeda Digital Ventures | $23M | Oshi Health is a virtual specialty care company focused on transforming gastrointestinal (GI) health outcomes and economics through a virtual-first, integrated care model that provides diagnosis, treatment, dietary interventions, and psychosocial support. The company announced a $23 million Series A funding round on October 12, 2021, co-led by Flare Capital Partners, Bessemer Venture Partners, and Frist Cressey Ventures, with participation from CVS Health Ventures, Takeda Digital Ventures (a prior investor), and angels including Jonathan Bush, Operator Partners' Nat Turner and Zach Weinberg, Eric M. Stone, and Russell Glass. The funding aims to scale Oshi Health's evidence-based, whole-person care protocols, which improve medical outcomes, quality of life, and reduce costs for employers and consumers. Oshi targets stigmatized GI conditions affecting tens of millions, addressing access gaps and high costs in a category that ranks among top specialty care expenses for payers and employers. CEO Sam Holliday emphasized redesigning GI care delivery to solve patient needs and lower total care costs. Launched in 2020, Oshi works with employers and health plans to offer its services as a covered benefit, enhancing productivity. The company plans to expand its team, release new products, and grow its platform. Investors highlighted Oshi's potential to shape GI care amid rising costs and poor outcomes, with strategic backing from CVS and Takeda underscoring validation in virtual chronic care. |
| Sep 2020 | Seed | Takeda Digital Ventures (lead) | $3M | Oshi Health raised $3 million in a Seed funding round in September 2020 led by Takeda Digital Ventures. The funding supported further development of the company's virtual GI care platform and initial market entry. Takeda Digital Ventures, the corporate venture arm of Takeda Pharmaceuticals, focuses on digital health and technology investments and has been a consistent backer of Oshi Health since inception. |
| Dec 2019 | Pre-seed | Takeda Digital Ventures (lead) | $4M | Oshi Health raised $3.5 million in a pre-seed funding round in December 2019 led by Takeda Digital Ventures to establish the initial foundation and develop the core technology for its virtual GI care platform. Takeda Digital Ventures, the corporate venture arm of Takeda Pharmaceuticals, focuses on digital health and technology investments. Oshi Health provides virtual specialty care for gastrointestinal health, integrating evidence-based protocols for diagnosis, treatment, dietary, and psychosocial interventions. The company launched operations around 2020 and serves all 50 states as an in-network virtual GI clinic partnering with employers, health systems, health plans, and in-person GI practices. Subsequent rounds included a $3 million seed in September 2020 also led by Takeda Digital Ventures, $23 million Series A in October 2021 co-led by Flare Capital Partners, Bessemer Venture Partners, and Frist Cressey Ventures with participation from Takeda and CVS Health Ventures, $30 million Series B in April 2023 led by Koch Disruptive Technologies, and $60 million Series C in October 2024 led by Oak HC/FT, bringing total funding to $119.5 million. |
Who has invested in Oshi Health?
12 investors have backed Oshi Health across its funding rounds, including Takeda Digital Ventures, Bessemer Venture Partners, Flare Capital Partners, Frist Cressey Ventures, CVS Health Ventures and Oak HC/FT.
Lead investors include Oak HC/FT, Koch Disruptive Technologies, Bessemer Venture Partners, Flare Capital Partners, Frist Cressey Ventures and 1 other investor.
Oshi Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Dec 2019 | ||
| 3 | Lead | Oct 2021 | ||
| 3 | Lead | Oct 2021 | ||
| 3 | Lead | Oct 2021 | ||
| 3 | Participant | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Oct 2024 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Lead | Apr 2023 | ||
| 1 | Participant | Oct 2021 | ||
This data is available for Pro users. Sign up to see all 12 Oshi Health investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialOshi Health Competitors
Oshi 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 |
Oshi Health Public Comps
Oshi 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 Oshi Health competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Oshi Health
| When was Oshi Health founded? | Oshi Health was founded in 2019. |
| Where is Oshi Health headquartered? | Oshi Health is headquartered in New York City, NY, United States. |
| Is Oshi Health publicly listed? | No, Oshi Health is a private, VC-backed company. |
| How much funding has Oshi Health raised? | Oshi Health has raised $120M across 5 funding rounds. |
| What was Oshi Health's last funding round? | Oshi Health's last funding round was a $60M Series C in October 2024, led by Oak HC/FT. |
| Who are Oshi Health's investors? | Oshi Health's investors include Takeda Digital Ventures, Frist Cressey Ventures, Flare Capital Partners, Bessemer Venture Partners, CVS Health Ventures, Russell Glass, American Gastroenterological Association, Jonathan Bush, Koch Disruptive Technologies, Eric M. Stone and 2 others. |
| Which companies are comparable to Oshi Health? | Companies comparable to Oshi Health include Doctolib, Cityblock Health, Grow Therapy, eMed, Guiyang Longmaster and Medley Inc.. |
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