Waymark, a San Francisco, CA-based Medicaid provider-enablement company, closed a $45M Series A financing.
The round was co-led by Andreessen Horowitz (a16z) and New Enterprise Associates (NEA) with participation from Lux Capital and angel investors. In conjunction with the funding, Mohamad Makhzoumi, Managing General Partner and Head of the Global Healthcare Investing Practice at NEA, joined the Waymark Board.
The company intends to use the funds to increase the capacity of its healthcare delivery system.
Co-founded in 2021 by Rajaie Batniji MD, PhD, and Sanjay Basu, MD, PhD, Waymark is a Public Benefit Corporation that seeks to improve healthcare access and outcomes among Medicaid beneficiaries. It will empower existing Medicaid primary care providers with technology-enabled, community-based care teams to deliver a set of interventions that are rarely available to Medicaid patients. The company designs technology and service delivery for communities and individuals that have been historically excluded, because of language, race, ethnicity, poverty, substance use, immigration status, gender or sexual identity, or other characteristics viewed as “other” or “lesser than”.