Centivo, a Buffalo NY-based health plan company serving self-funded employers, raised $51M in funding.
The round was led by B Capital Group and Maverick with participation from Bain Capital Ventures, Company Ventures, Define Ventures, F-Prime Capital, HarbourVest Partners, Ingleside Investors and Nassau Street Ventures.
The company intends to use the funds for growth and expansion and development of products and services such as a fully integrated virtual primary care-centered health plan, which was recently launched in Florida.
Led by Ashok Subramanian, CEO, Centivo provides an health plan anchored around providers of value-based care, now serving employer clients ranging in size from 100 employees to Fortune 500 companies. By the end of 2022, the company’s health plan will be available in half of the top 20 metropolitan areas in the country. The firm also recently developed a new strategic distribution arrangement with the Business Health Care Group (BHCG) in eastern Wisconsin.