Pearl Health announced a $110 million capital raise to expand its AI platform for providers caring for Medicare patients. The financing includes a $50 million equity round led by Andreessen Horowitz and a $60 million credit facility led by Trinity Capital.
The equity round also included participation from Viking Global Investors, AlleyCorp, and Ulysses Capital. Pearl said the new capital will help expand its AI platform, accelerate enterprise health system and payer partnerships, support expansion into Medicare Advantage, and enable new risk offerings.
Pearl Health helps providers manage risk and deliver better care to Medicare patients. The company’s platform is designed to turn clinical intelligence into measurable outcomes by helping providers predict risk, orchestrate workflows, and take action before patient issues become costly emergencies.
The company said more than 70 million people rely on Medicare, with costs exceeding $1 trillion and continuing to rise. As reimbursement shifts toward outcomes rather than utilization, Pearl is focused on helping providers succeed in value-based care models.
Pearl’s AI platform supports providers with predictive insights, financial risk modeling, and streamlined workflows. The company is expanding Performance Intelligence to provide AI-driven, chat-enabled expertise for population health leaders and care teams, delivering real-time insights on cost of care, quality, and utilization patterns.
Pearl is also advancing Care Orchestration AI agents designed to automate administrative workflows. These workflows include annual wellness visit scheduling, post-discharge follow-ups, and care management outreach.
Pearl supports a network of more than 10,000 providers across more than 40 states. Its partners include health systems such as University of Vermont Health and MDX Hawaii, and the company currently supports care for more than 250,000 Medicare beneficiaries.
The company manages approximately $3.6 billion in annualized medical spend, up from $2.4 billion the prior year and $1.6 billion the year before that. Pearl reached profitability in 2025 and is projected to deliver $500 million in gross healthcare system savings while tripling its patient base from 2024 through the end of 2026.
Founded in 2020, Pearl Health is building a platform for healthcare outcomes. The company said its model enables providers to participate in value-based payment programs through technology rather than clinical workforce expansion.
KEY QUOTES:
“Pearl was founded on a simple belief: healthcare should reward keeping people healthy, not just treating them when they are sick. Unnecessary costs and poor outcomes persist in US healthcare because most providers lack the capabilities to shift to outcomes-based care alone. With this financing, we are investing in accelerated innovation and growth to expand our impact across the healthcare system.”
Michael Kopko, Co-Founder and CEO of Pearl Health
“Pearl has demonstrated that managing risk across large patient populations across many different settings of care can improve patient outcomes, generate meaningful savings, and support a sustainable business model at scale. Pearl’s ability to enable providers to participate in value-based payment programs successfully – and to do so through technology, rather than clinical workforce expansion – is a testament to both the vision and execution of the Pearl team.”
Vineeta Agarwala, MD, General Partner at Andreessen Horowitz
“We believe Pearl Health is changing how providers participate in value-based care, simplifying the data and daily workflow so they can spend more of their time and attention on their patients. We are proud to support this team and what they are building as they enter their next stage of growth.”
Phil Gager, Senior Managing Director of Tech Lending at Trinity Capital
