Cityblock Health raises $192m in Series C extension funding round

Cityblock Health, a US-based healthcare provider that caters to Medicaid and lower-income Medicare beneficiaries, has raised $192 million in a Series C extension funding round.

The funding round was led by new investor Tiger Global. Existing investors such as Kinnevik, General Catalyst, Maverick Ventures, Thrive Capital, Wellington Management, Echo Health Ventures, Redpoint Ventures, AIMS Imprint of Goldman Sachs Asset Management, and 8VC took part in the funding round.

Scott Shleifer of Tiger Global said: “As one of the only value-based, comprehensive providers solving specifically for the Medicaid population, Cityblock is tackling a much needed and very ignored problem.

“We are thrilled to join the team working to revolutionize care for underserved populations.”

The Series C extension round takes the total fundraising of Cityblock since its founding in 2017 to nearly $500 million.

Cityblock Health raises $192m in Series C extension funding round

In December 2020, the healthcare provider for lower-income communities closed a $160 million Series C financing round to take its valuation of more than $1 billion.

The healthcare provider plans to use the proceeds from the Series C extension to expedite the deployment of its community and value-based care model across the US.

Currently, Cityblock caters to 70,000 members across New York, Massachusetts, Connecticut, and Washington, DC.

Iyah Romm – CEO and Co-Founder of Cityblock said: “We’re incredibly proud and grateful that some of the world’s best and brightest healthcare minds have joined us.

“But more than anything, we’re excited for what this level of capital investment means for our member population. It’s clear that there is increased awareness of this massive problem of health inequity. We’re starting to see urgency from investors and industry leaders alike.”