Patient advocate startup Solace is set to be valued at over $300 million in new funding round from Menlo Ventures

Buzzy health care start-up Solace simply raised a fresh round of financing led by VC company Menlo Ventures, Company Expert has actually discovered.

Solace, which links clients with health care supporters, is raising a Series B financing round that values the start-up at over $300 million, according to numerous sources with understanding of the offer.

These sources stated Solace was looking for to raise around $40 million in the Series B round.

Solace didn’t react to ask for remark for this story. A Menlo Ventures representative stated the company does not talk about reports or speculation.

Cofounders Jeremy Gurewitz, CEO, and Sara Sargent, primary item officer, introduced Solace in 2022 to assist clients browse the lots of intricacies of the health care system, from scheduling hard-to-get consultations to enticing insurance coverage rejections.

The start-up matches Medicare clients with previous physicians, nurses, pharmacists, and other scientific specialists in all 50 states. Solace states it offers virtual assistance for over 100 conditions, consisting of autoimmune illness, persistent conditions, and hospitalizations.

Medicare didn’t cover client advocacy services up until in 2015. Solace states its services are now covered by federal Medicare and lots of Medicare Benefit strategies.

At the start of 2025, Solace had a profits run rate of $10 million, according to numerous individuals knowledgeable about the business’s financials.

Before its Series B, Solace has actually raised $21 million to date, consisting of $14 million in Series A financing in August led by Motivated Capital. Other companies, consisting of Craft Ventures and Torch Capital, and angel financiers Anne Wojcicki, the previous CEO of 23andMe, and the late Susan Wojcicki, the previous CEO of YouTube, signed up with the Series A.

Solace’s Series B raise follows months of growing public ire towards the health care system, especially medical insurance business, following the murder of UnitedHealthcare CEO Brian Thompson in December. Lots of start-ups have actually appeared to deconstruct or streamline parts of that system, with lots of utilizing AI to automate health care payment procedures on behalf of suppliers.

Less start-ups have actually tried to deal with health care’s intricacies by working straight with clients. Oncology start-up Thyme Care has actually taken a comparable technique to specialized care, raising $178 million from Andreessen Horowitz and other VC companies to guide clients through their cancer treatments.