Harbor Health secures $130 million to develop insurance plans and clinical footprint
Primary and professional nursing clinics and insurer Harbor Health announced last week that it raised $130 million in funding. Financing will help expand its clinical reach in Texas and develop its insurance plans.
Harbor Health connects patients to primary, professional and clear care. Care is personalized to patients and each member receives a dedicated nursing team. The startup has 11 clinics in Austin, Texas and cares for more than 50,000 people in the state.
The company also establishes insurance businesses for large employers and individual consumers and obtains care through the market. Its plan has no deductibles, no upfront access requirements, and no out-of-pocket expenses for most services provided by port health clinicians.
The financing is led by General Catalyst, 8VC and Alta Partners. The round also includes participation from Dell Family Office Management, Health 2047 Capital Partners, Lemhi Ventures, Martin Ventures and Breyer Capital. Harbor Health has raised a total of $258 million since its launch in 2022.
“The coverage of a specific conditional clinical model that provides optimized quality and outcomes is exactly what healthcare needs for employers and individuals,” Dr. Pete Hudson, managing director of Alta Partners, said in a statement.
The funding is helping retain health to build its insurance business and increase its clinical footprint.
“Once you invest in insurance, it doesn’t make sense to restrict the people who limit their application. So, expand the best interest of how it can be provided to a wider population. That’s the goal of clinical expansion.”
Johnston added that the company plans to expand its clinical reach beyond Austin, but will now stay in Texas to establish higher market density across the state.
“Healthcare is so local, our strategy is to stay in Texas,” he said. “We will expand from Austin but deliberately stay in Texas because [healthcare] It's local. Connections with the community and other providers are very important. Therefore, we are very convinced that this is the right way, not thin and spread. “He compared it with companies like Bright and Centivo, which have expanded more widely across the United States
That is, if port health reaches the required density in Texas, it will also expand to other states.
Johnston said the company is also expanding its professional care support through funding, including cardiology, rheumatology, infusion and endocrinology.
Photo: Nataliia Nesterenko, Getty Images
