Pager Health Valuation, Funding & Investors
Pager Health is valued at $65M as of March 2020.
Last Pager Health valuation
$65M
Series B · Mar 2020
Last Pager Health funding round
$6M
Series A · Aug 2022
Cumulative funding Pager Health raised
$123M
across 6 funding rounds
Key investors in Pager Health
New Enterprise Associates
Goodwater Capital
Lux Capital
Montage Ventures
Health Catalyst Capital
Thyra Global Management
About Pager Health
Pager Health is a New York-headquartered platform supporting 15 million covered lives in the United States and Latin America with AI-augmented care navigation. It offers health plans triage, telemedicine, appointment booking, prescription refills, and care coordination through an embeddable interface. Pager Health unifies services for payers like Humana. Founded in 2014, its concierge model reduces costs via virtual consultations.
Founded
2014
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$65M (Mar 2020)
Pager Health Valuation
Pager Health is currently valued at $65M, based on its Series B in March 2020.
The $22M round was led by Health Catalyst Capital, with participation from Three Fields Capital, New Enterprise Associates, Lux Capital, Goodwater Capital and Horizon Blue Cross Blue Shield of New Jersey.
Pager Health valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2020 | Series B | $65M |
Pager Health Funding History
Pager Health has raised a total of $123M across 6 funding rounds.
Pager Health's first fundraising round was a $6M Series A in March 2015. The most recent completed round was a $6M Series A in August 2022.
Pager Health funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2022 | Series A | Abundance Partners | $6M | - | - |
| Sep 2021 | Series C | Susquehanna International Group (lead); New Enterprise Associates; Lux Capital; Goodwater Capital; Horizon Healthcare Services; Health Catalyst Capital | $70M | - | Pager Health, a virtual care navigation and collaboration platform founded in 2014 and headquartered in New York, announced on September 21, 2021, that it raised $70 million in a Series C round comprising equity and debt financing. The equity portion was led by Susquehanna Private Equity Investments (an affiliate of Susquehanna International Group), with participation from new and existing investors including an affiliate of Horizon Healthcare Services, Health Catalyst Capital, Goodwater Capital, Lux Capital, and New Enterprise Associates. Debt financing came from Silicon Valley Bank, bringing Pager's total funding to over $120 million. The funding supported expansion into the United States, Latin America, and worldwide markets, platform innovation, and scaling capacity amid high demand. Pager reported explosive growth with more than 2.5 million patient encounters in the prior 12 months, nearly 800% average annual consumer encounter growth over the last two years, over 30% utilization of its platform, and average savings of more than $190 per clinical encounter. The company provides accessible healthcare via a mobile app connecting patients to board-certified doctors and licensed therapists for in-person or video consultations. Prior rounds in 2020 (Series B-1, B-2, B-3) had post-money valuations around $64.51MM. Subsequent developments included a Series D-1 in June 2022 at $262.42MM valuation with $176.59MM total funding raised. |
| Mar 2020 | Series B | Health Catalyst Capital (lead); Three Fields Capital; New Enterprise Associates; Lux Capital; Goodwater Capital; Horizon Blue Cross Blue Shield of New Jersey | $22M | $65M | Pager Health is a New York-based digital care coordination and navigation platform that connects patients to board-certified doctors and licensed therapists via mobile app, video, or in-person, aiming to make healthcare accessible, affordable, and convenient. The company raised a Series B financing round totaling approximately $55 million across three tranches (B-1: $17.68MM at $0.41/share, B-2: $12.32MM at $0.35/share, B-3: $25K at $0.33/share) in March 2020, led by Health Catalyst Capital with participation from Goodwater Capital, Horizon Blue Cross Blue Shield of New Jersey, Lux Capital, New Enterprise Associates, and Three Fields Capital, at a post-money valuation of $64.51 million. A PR Newswire release confirms the $33M Series B equity portion led by Health Catalyst Capital with Horizon BlueCross BlueShield, while Fierce Healthcare notes a prior $33M Series B in March 2020 including equity and debt. The funding supported Pager's expansion amid rising virtual care demand during the COVID-19 pandemic, positioning it as a turnkey platform for health plans and systems to improve care access, outcomes, and cost reduction. Health Catalyst Capital's portfolio describes Pager as a virtual care collaboration platform guiding users through the healthcare journey, with investments around early 2020. Subsequently, Pager raised a $70M Series C in September 2021 led by Susquehanna Private Equity Investments with debt from Silicon Valley Bank, including participation from a Horizon affiliate and prior investors, bringing total funding to about $133M at that point. By June 2022, a Series D-1 round valued the company at $262.42MM with total funding reaching $176.59MM. Pager reported strong traction post-2020, including nearly 800% average annual consumer encounter growth over two years, over 30% utilization, $190 average savings per encounter, and contracts covering more than 15 million members by 2021. |
| Oct 2016 | Series A | New Enterprise Associates; Haas Portman | $5M | - | Pager Health raised $5.2 million toward a $6 million goal in a funding round filed around October 2016, matching the specified investors Haas Portman and New Enterprise Associates. The capital supported expansion beyond New York City in partnership with the Envision provider network and a shift to health systems as customers, including a collaboration with Weill Cornell Medicine and New York Presbyterian Hospital. The platform offered triage, teleconsults, house calls, and referrals to specialists, aiming for reimbursable services through virtual consults. Previously, Pager Health raised $10 million the prior year, partnering with Walgreens and Evolution Health. The company focused on on-demand healthcare via app, connecting patients to board-certified physicians and nurses for evaluations, prescriptions, and care coordination. |
| Jul 2015 | Series A | New Enterprise Associates (lead); Sound Ventures (lead); Three Fields Capital; Lux Capital; Montage Ventures; Goodwater Capital; Thyra Global Management | $14M | - | Pager is a telemedicine and house-call service founded in 2014 by Uber's CTO Oscar Salazar, Gaspard de Dreuzy, and Philip Eytan. The company connects patients in New York City with nurses and doctors who provide in-person visits for non-emergency medical needs, treating conditions such as upper respiratory infections, strep throat, and minor injuries. Patients choose appointment types (sickness/injury, physical, or health check) and are matched with one of the company's approximately 40 physicians. In July 2015, Pager closed a $14 million Series A funding round led by New Enterprise Associates and Sound Ventures, with additional participation from Goodwater Capital, Lux Capital, and Montage Ventures. Ashton Kutcher, a Sound Ventures founder, praised the company's "disruptive" model, noting that Pager's in-person capability differentiated it from narrower telemedicine approaches. The funding was designated to expand the service beyond New York to new markets including San Francisco, Los Angeles, and Chicago. Pager's business model involved partnerships with healthcare organizations and insurance networks, positioning itself as an out-of-network provider while pursuing closer relationships with major health systems and insurers to improve affordability. The company had treated thousands of patients by the time of the funding announcement, though the founders declined to disclose specific patient numbers or revenue figures. |
| Mar 2015 | Series A | Streamlined; Lux Capital; Montage Ventures; Goodwater Capital; QueensBridge Venture Partners; Thyra Global Management | $6M | - | - |
Who has invested in Pager Health?
15 investors have backed Pager Health across its funding rounds, including New Enterprise Associates, Goodwater Capital, Lux Capital, Montage Ventures, Health Catalyst Capital and Thyra Global Management.
Lead investors include Susquehanna International Group, Health Catalyst Capital, New Enterprise Associates and Sound Ventures.
Pager Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 4 | Lead | Jul 2015 | |
| New York City, NY | 4 | Participant | Mar 2015 | |
| San Francisco, CA | 4 | Participant | Mar 2015 | |
| Los Angeles, CA | 2 | Participant | Jul 2015 | |
| San Francisco, CA | 2 | Participant | Mar 2015 | |
| New York City, NY | 2 | Lead | Mar 2020 | |
| New York City, NY | 2 | Participant | Mar 2015 | |
| Los Angeles, CA | 1 | Lead | Jul 2015 | |
| San Francisco, CA | 1 | Participant | Mar 2015 | |
| Los Angeles, CA | 1 | Participant | Oct 2016 | |
| New York City, NY | 1 | Participant | Aug 2022 | |
| Lancaster, PA | 1 | Participant | Sep 2021 | |
| Philadelphia, PA | 1 | Lead | Sep 2021 | |
This data is available for Pro users. Sign up to see all 15 Pager Health investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialPager Health Competitors
Pager Health competitors include listed companies like DocCheck and ezCaretech, and private ones like Welmo, CareStack, PCL Health and MEDIROM MOTHER Labs.
| Company | HQ | Status | Revenue | EBITDA | Valuation |
|---|---|---|---|---|---|
 Fukuoka | Private | - | - | $65M | |
| Orlando, FL | Private | - | - | $66M | |
 Germany | Publicly listed | $64M | $12M | $66M | |
 London | Private | - | - | $64M | |
| Tokyo | Private | - | - | $63M | |
 South Korea | Publicly listed | $57M | $5M | $68M |
Pager Health Public Comps
Pager Health is still privately-owned, but its public comps include DocCheck, ezCaretech, Nano X Imaging, Research Solutions, Data Horizon, Health In Tech, EUDA Health, Fonet, MeVis and SMAIO.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $64M | $12M | 0.8x | - | 4.0x | - | |||
| $57M | $5M | 1.1x | - | 13.0x | - | |||
| $13M | ($67M) | 2.9x | 2.1x | (0.6x) | - | |||
| $48M | $4M | 1.2x | 1.2x | 13.8x | 9.8x | |||
| $33M | $4M | 2.1x | - | 15.7x | - | |||
| $33M | $2M | 1.4x | 1.2x | 21.6x | (17.6x) | |||
| $7M | ($2M) | 8.0x | 5.9x | (26.0x) | - | |||
| $18M | $8M | 4.3x | - | 9.0x | - | |||
This data is available for Pro users. Sign up to see all Pager Health competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Pager Health
| When was Pager Health founded? | Pager Health was founded in 2014. |
| Where is Pager Health headquartered? | Pager Health is headquartered in New York City, NY, United States. |
| Is Pager Health publicly listed? | No, Pager Health is a private, VC-backed company. |
| What is Pager Health's valuation? | Pager Health was last valued at $65M in its Series B in March 2020. |
| How much funding has Pager Health raised? | Pager Health has raised $123M across 6 funding rounds. |
| What was Pager Health's last funding round? | Pager Health's last funding round was a $6M Series A in August 2022. |
| Who are Pager Health's investors? | Pager Health's investors include New Enterprise Associates, Lux Capital, Goodwater Capital, Three Fields Capital, Montage Ventures, Health Catalyst Capital, Thyra Global Management, Sound Ventures, Streamlined, Haas Portman and 5 others. |
| Which companies are comparable to Pager Health? | Companies comparable to Pager Health include Welmo, CareStack, DocCheck, PCL Health, MEDIROM MOTHER Labs and ezCaretech. |
See companies similar to Pager Health
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