Fortuna Health Raises $4M in Financing

Fortuna Health, a NYC-based consumer-first platform simplifying Medicaid navigation, raised $4m in seed funding.

The round was led by Andreessen Horowitz (a16z) Bio + Health with participation from BoxGroup and Y Combinator. Fortuna’s seed round included healthcare angels and advisors including Jeff Sachs (CEO, Sachs Policy Group), Cyrus Massoumi (founder, Zocdoc), Jeff Gerard (former President, Sutter Health Bay Area), Elliot Cohen (Founder, PillPack), Iyah and Sylvia Romm (Founder and former Chief Health Officer, Cityblock), Ellen DaSilva (Founder, Summer Health), as well as EGOT winner, entrepreneur, and social advocate John Legend who came into the round through support from a16z’s Cultural Leadership Fund. Andreessen Horowitz (a16z) Bio + Health with participation from BoxGroup and Y Combinator.

The company intends to use the funds to accelerates state expansion and partnerships with managed care organizations (MCOs), health systems, and service providers in the Medicaid space.

Led by Nikita Singareddy, CEO, Fortuna Health is a consumer-first platform for navigating Medicaid end-to-end from eligibility and enrollment to recertification. The self-serve platform eliminates the need to interact with state portals and physical forms, screens for Medicaid eligibility in under 60 seconds with enrollment and recertification in more than seven languages. To accelerate application completion, consumers can connect third-party accounts to populate form fields, photo upload documents, and receive text/email notifications for urgent actions. The company provides additional live support from licensed navigators as needed.

Fortuna Health is already partnered with organizations that touch thousands of Medicaid members in Minnesota, New York, and Pennsylvania.

FinSMEs

15/11/2023