Key Highlights
- Nomi Health secures a whopping $110 million in series A funding, the largest funding round in Utah history
- Nomi Health has by far delivered over eight million tests—with more than 30,000 people per day across 10 states
A US healthcare startup, Nomi Health has raised $110 million in Series A funding, which has been the largest series A funding in Utah history. This was led by Rose Park Advisors, a venture firm associated with the late Harvard Business School professor Clayton Christensen, and Arbor Ventures, a global fintech venture capital firm.
The founder and CEO of Nomi Health, Mark Newman stated that the funds will be utilized to expand its direct healthcare purchasing business and hire additional clinical and technical staff.
“Our Series A speaks to the scale of the challenge Nomi Health dared to undertake within a $3 trillion market. Nomi’s impact underscores that the people who built our broken system cannot fix it.”
Mark Newman
Innovative Healthcare Startup
Nomi Health is a healthcare startup that delivers health services directly to millions of Americans without any involvement of third-party health insurance. The company was established in 2019 and Nomi Health testing has successfully delivered over eight million tests, i.e. around 30,000 people per day across 10 states. Several local governments, universities, and businesses have contracted with Nomi Health to offer basic healthcare services like preventive screenings, Covid-19 testing, vaccinations, and treatment.
Mobile Nomi Health Testing
Nomi Health testing brings mobile care units to jails, schools, public housing, long-term care facilities, farms, and factories. During the pandemic, as traditional healthcare could not rise to the challenge, Nomi Health became the last call of states and counties. Given the excellent services, it has now become the first call on the account.
Melissa Guzy, the Co-founder and managing partner of Arbor Ventures highlighted that the company invested in Nomi Health because it solves one of the largest problems facing the US healthcare system, which is that the large incumbent healthcare companies are riddled with operational and technological inefficiencies and consume 30 to 50% of every healthcare dollar.
In 2021, Nomi Health donated $2 million to wipe out $225 million worth of medical debt for 176,000 Americans through a partnership with nonprofit RIP Medical Debt.
