Stellar Health, a New York City-based value-based healthcare technology company, raised over $10m in Series A funding.
The round was led by Point72 Ventures, with participation from existing investors Primary Venture Partners.
The company intends to use the funds to accelerate product development and engineering, and support operations including the expansion of services to new markets and to double the size of its team within the next year looking to hire across multiple departments, including Engineering, Product, Operations, and Business Development.
Founded in 2018 and led by Michael Meng, CEO, Stellar Health provides a cloud-based, point-of-care platform which tracks data and actions to help primary care providers achieve value-based care goals for their patients and rewards them with real-time incentives.
The company has developed a payor and provider network across 11 states in the U.S., and, by the end of 2020, expects to have 100,000 patient lives managed through their platform.