Firefly Health Raises $40M in Series B Funding

Firefly Health, a Watertown, Mass.-based virtual-first healthcare company, closed a $40M Series B financing round.

The round was led by Andreessen Horowitz (a16z) with participation from existing investors F-Prime Capital and Oak HC/FT. As part of the deal, a16z General Partner Julie Yoo will join the Firefly Health board.

The company intends to use the funds to expand operations and its business reach.

Led by CEO Fay Rotenberg, and Executive Chairman Jonathan Bush, Firefly Health offers empathy-driven comprehensive care, administered by a clinical team and network of clinical partners, powered by technology built around people. Every patient is assigned a dedicated care team for continuous, evidence-based virtual and in-person coaching and support. The company’s partnership network also includes on-site access to care providers, home care providers, specialty care organizations, such as Dana Farber and Joslin, as well as many specialty partners.

Firefly Health currently operates in Massachusetts, Maine, New York, and New Jersey and is expanding into several new markets this year. Building on its platform, the company will be launching a new health plan offering, powered by its comprehensive primary care approach, later this year to further empower navigation and incentivize members and sponsors with direct savings. Firefly Plan will reward intelligent choices around lifestyle and care navigation with direct savings to members and employers.