Harbor Health, a primary and specialty care clinic group and health insurance company, has officially secured $130 million in a new funding round.
Co-led by General Catalyst, 8VC, and Alta Partners, the round saw further participation coming from the likes of DFO Management (Dell Family Office).
According to certain reports, the funding in question makes it possible for Harbor Health to expand its clinical footprint to broaden consumer access in Texas, as well as specialty service lines to address growing care needs. These specialty care areas include, at launch, rheumatology, dermatology, cardiology, endocrinology, and mental health.
For better understanding, Harbor Health combines care models with longitudinal coverage models that, on their part, encourage people to do what’s best for their health, and therefore, choose the best providers. You see, each Harbor Health member is connected to a dedicated health team and customized care pathways.
Such a personalized approach treads up a long distance to improve outcomes, while simultaneously cutting down on the emotional and financial burden the current healthcare system inflicts on consumers.
“We are committed to a new advanced clinical model and payment structure that rewards providers to reduce population health risks and lower overall costs,” said Tony Miller, co-founder of Harbor Health. “People want personalized care and clear guidance on how to make lifestyle changes and informed decisions about treatment and costs. Employers need better options to keep rising healthcare benefit costs under control. We know we can deliver the plans at a 10% to 20% savings while making the plans richer for the members.”
More on the same would reveal how Harbor Health insurance plans offer large group employers and individual consumers more coordinated care and coverage together at a lower cost than traditional plans. These plans are also built around a robust network of primary care providers and specialists, giving members direct access to high-quality care within Harbor Health.
In case that wasn’t enough, the group further maintains strong partnerships with a wide array of external providers, ensuring that members receive timely referrals and coordinated treatment across the broader healthcare landscape.
All in all, the funding builds upon Harbor Health achievements so far. The company has essentially cared, thus far, cared for more than 50,000 people in Central Texas (Travis, Williamson, and Hays counties). Furthermore, the vast majority of Harbor Health members say they would likely recommend the company and care to a friend or colleague, something which is also reflected in its net promoter score of 90.
Not just that, Harbor Health has also grown from three clinic locations in 2022 to 11 clinics, including three Express Care clinics that offer extended hours, with more locations coming soon.
“Harbor Health is driving meaningful innovation in both care delivery and now in health insurance coverage, and we are excited to support the company’s continued momentum in Austin and beyond,” said Chris Bischoff, Managing Director at General Catalyst. “Harbor Health is radically improving how care and coverage work together, with more than 50,000 people served in Central Texas, a net promoter score of 90, and measurable savings already delivered. Their model aligns with our Health Assurance thesis, and we are proud to back their mission to build a more accessible, affordable, and outcomes-driven healthcare future.”