Truveta Valuation, Funding & Investors

Truveta is valued at $1B as of January 2025.

Last Truveta valuation

$1B

Series C · Jan 2025

Last Truveta funding round

$320M

Series C · Jan 2025

Cumulative funding Truveta raised

$515M

across 3 funding rounds

Key investors in Truveta

  • CommonSpirit Health
  • Northwell Health
  • Henry Ford Health System
  • Providence
  • Illumina
  • Regeneron

Truveta Overview

About Truveta

Truveta is a data platform formed by 13 US health systems compiling de-identified records from 70 million patients. Launched in 2021, it enables researchers in pharma and academia to query real-world evidence linking treatments to outcomes across oncology, cardiology, and neurology. Partners include Providence, Banner Health, and Sanford Health, powering 500+ studies with query results in hours versus months.


Founded

2020

HQ

United StatesSeattle, WA

Status

Privately held

Customer focus

B2B

Revenue model

Licensing, Subscription

Valuation

$1B (Jan 2025)

Truveta Valuation

Truveta is currently valued at $1B, based on its Series C in January 2025.

The $320M round included Trinity Health, Providence, Henry Ford Health System, Regeneron, Advocate Health and 3 other investors.

Truveta's valuation has moved from $1B at its undisclosed-stage round in November 2021 to $1B in January 2025, across 2 priced rounds.

Truveta valuation by funding round

Truveta valuation by funding round
DateStageValuation
Jan 2025Series C$1B
Nov 2021Undisclosed stage$1B

Truveta Funding History

Truveta has raised a total of $515M across 3 funding rounds.

Truveta's first fundraising round was a $95M Series A in July 2021. The most recent completed round was a $320M Series C in January 2025.

Truveta funding rounds

Truveta funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2025Series CTrinity Health; Providence; Henry Ford Health System; Regeneron; Advocate Health; Illumina; CommonSpirit Health; Northwell Health$320M$1BTruveta is a Bellevue, Washington-based health data company founded in 2020 that aggregates de-identified electronic health records from over 30 partner health systems, representing more than 120 million patients, to enable clinical insights linking treatments to outcomes for medical research in areas like cardiovascular, neurology, and oncology. The platform supports life sciences, public health, healthcare, and academic organizations with daily-updated data while prioritizing patient privacy and HIPAA compliance. Truveta has grown to over 400 employees and previously raised $95 million in 2021 and additional funding from investors like Microsoft, bringing total funding to nearly $500 million prior to this round. On January 13, 2025, Truveta announced a $320 million growth round from 17 health systems—including Advocate Health, CommonSpirit Health, Henry Ford Health System, Northwell Health, Providence, and Trinity Health—plus strategic investments from Regeneron Pharmaceuticals ($119.5 million) and Illumina ($20 million), achieving unicorn status with a post-money valuation of $1 billion or exceeding $1 billion. The funding supports the Truveta Genome Project, described as the largest and most diverse database of genotypic and phenotypic data, over ten times the scale of NIH’s All of Us or UK Biobank, partnering with Regeneron Genetics Center to sequence exomes of ten million volunteers and using Microsoft Azure as the exclusive cloud provider. This round positions Truveta to advance personalized medicine through early detection and prevention, addressing healthcare costs beyond chronic disease management, with its AI model for extracting data from medical texts enhancing research capabilities. The company ranks highly among Pacific Northwest startups and continues expanding its dataset for demographic-specific insights like ischemic stroke patients.
Nov 2021Undisclosed stage-$100M$1B-
Jul 2021Series AMedStar Health; AdventHealth; Providence; Henry Ford Health System; Hawaii Pacific Health; Bon Secours Mercy Health; Memorial Hermann Hospital; Baptist Health; CommonSpirit Health; Baylor Scott & White Health; Northwell Health; Advocate Aurora Health$95M-Truveta is a provider-led health data platform founded in 2020 and headquartered in Bellevue, Washington, aggregating de-identified patient records from member health systems to accelerate medical research, drug development, and improve patient care. The company launched from stealth in early 2021 with initial backing from 14 health systems including Providence, Advocate Aurora Health, Trinity Health, Tenet Healthcare, Northwell Health, AdventHealth, Baptist Health of Northeast Florida, Bon Secours Mercy Health, CommonSpirit Health, Hawaii Pacific Health, Henry Ford Health System, Memorial Hermann Health System, Novant Health, and Sentara Healthcare. On July 13, 2021, Truveta announced a $95 million Series A funding round fully funded by its health system members in roughly equal amounts, reflecting shared ownership and governance, with leaders from these systems holding voting seats on the board. The round coincided with the addition of three new members—Baylor Scott & White Health, MedStar Health, and Texas Health Resources—bringing the total to 17 members representing over 15% of all U.S. patient care across tens of millions of patients and thousands of facilities in 40 states. Proceeds from the Series A were allocated to hiring machine learning engineers, clinical informaticists, data engineers, technologists, and health data experts, as well as funding infrastructure and cloud-computing costs to build the Truveta platform for ethical research linking treatments to outcomes. CEO Terry Myerson, a former Microsoft executive, emphasized the platform's potential to answer critical questions on treatment efficacy, at-risk populations, and optimized care, accelerated by COVID-19 data needs. Truveta operates as a tax-paying for-profit entity, with member earnings reinvested into communities. The funding validated Truveta's model amid growing demand for consolidated healthcare data, positioning it uniquely through multi-system coordination and governance. At the time, the company had around 100 employees and aimed to scale operations.

Who has invested in Truveta?

16 investors have backed Truveta across its funding rounds, including CommonSpirit Health, Northwell Health, Henry Ford Health System, Providence, Illumina and Regeneron.


Truveta Investors

Investors in Truveta by funding rounds participated
InvestorHQRoundsRoleFirst check
ProvidenceUnited StatesBaton Rouge, LA2ParticipantJul 2021
Henry Ford Health SystemUnited StatesDetroit, MI2ParticipantJul 2021
CommonSpirit HealthUnited StatesChicago, IL2ParticipantJul 2021
Northwell HealthUnited StatesNew York City, NY2ParticipantJul 2021
MedStar HealthUnited StatesBaltimore, MD1ParticipantJul 2021
Trinity HealthUnited StatesDetroit, MI1ParticipantJan 2025
AdventHealthUnited StatesOrlando, FL1ParticipantJul 2021
Hawaii Pacific HealthUnited StatesHonolulu, HI1ParticipantJul 2021
Bon Secours Mercy HealthUnited StatesCincinnati, OH1ParticipantJul 2021
RegeneronUnited StatesUnited States1ParticipantJan 2025
Memorial Hermann HospitalUnited StatesHouston, TX1ParticipantJul 2021
Advocate HealthUnited StatesCharlotte, NC1ParticipantJan 2025
IlluminaUnited StatesSan Diego, CA1ParticipantJan 2025

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Truveta Competitors

Truveta competitors include listed companies like Indegene and Veradigm, and private ones like HealthVerity, Unite Us, Arine and NantHealth.

Public and private companies comparable to Truveta
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
HealthVerityUnited StatesPhiladelphia, PAPrivate--$721M-
IndegeneIndiaIndiaPublicly listed$366M$68M$1.5B3.3x
Unite UsUnited StatesNew York City, NYPrivate--$1.6B-
ArineUnited StatesSan Francisco, CAPrivate--$520M-
VeradigmUnited StatesUnited StatesPublicly listed$588M$54M$512M0.9x
NantHealthUnited StatesLos Angeles, CAPrivate$58M-$2B-

Truveta Public Comps

Truveta is still privately-owned, but its public comps include iFLYHealth, Vitec Software, MedicalSystem Technology, PHC Holdings, HealthStream, Hangzhou Pinming Software, Sphere, B-Soft Co., U.S. Physical Therapy and Omada Health.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
iFLYHealth$137M($7M)7.7x6.3x(152.3x)29022.1x
Vitec Software$370M$150M3.8x3.6x9.3x9.2x
MedicalSystem Technology$45M$12M19.7x16.3x73.6x65.4x
PHC Holdings$2.3B$318M1.0x1.0x7.2x6.5x
HealthStream$304M$63M2.8x2.6x13.3x11.2x
Hangzhou Pinming Software$65M$8M12.9x12.2x103.0x-
Sphere$69M$6M14.5x5.9x158.4x103.6x
B-Soft Co.$157M($37M)4.8x4.9x(20.2x)(20.2x)

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Common questions about Truveta

When was Truveta founded?Truveta was founded in 2020.
Where is Truveta headquartered?Truveta is headquartered in Seattle, WA, United States.
Is Truveta publicly listed?No, Truveta is a private, VC-backed company.
What is Truveta's valuation?Truveta was last valued at $1B in its Series C in January 2025.
How much funding has Truveta raised?Truveta has raised $515M across 3 funding rounds.
What was Truveta's last funding round?Truveta's last funding round was a $320M Series C in January 2025.
Who are Truveta's investors?Truveta's investors include Providence, Henry Ford Health System, CommonSpirit Health, Northwell Health, MedStar Health, Trinity Health, AdventHealth, Hawaii Pacific Health, Bon Secours Mercy Health, Regeneron and 6 others.
Which companies are comparable to Truveta?Companies comparable to Truveta include HealthVerity, Indegene, Unite Us, Arine, Veradigm and NantHealth.

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