Pearl Health Raises $110 Million to Expand Its AI Platform Helping Providers Deliver Better Outcomes at Lower Cost for Medicare Patients

The company reached profitability in 2025 and is projected to generate $500 million in gross healthcare system savings while tripling its patient base from 2024 through the end of 2026.

NEW YORK, July 8, 2026 /PRNewswire/ -- Pearl Health, a healthcare technology company helping manage risk and deliver better care to Medicare patients, today announced a $110 million capital raise, comprised of equity investment led by Andreessen Horowitz with participation from Viking Global Investors, AlleyCorp, Ulysses Capital, and a debt facility led by Trinity Capital. The new capital will expand Pearl's AI platform, turning clinical intelligence into measurable outcomes, and accelerate its growth across enterprise health system and payer partnerships, its expansion into Medicare Advantage, and new risk offerings.

More than 70 million people today rely on Medicare, with costs exceeding $1 trillion and climbing. Across healthcare, reimbursement is increasingly tied to outcomes rather than utilization, creating powerful incentives for providers to prevent avoidable illness, intervene earlier, and manage patient populations. As healthcare shifts from reactive treatment to preventative care, demand is accelerating for technologies that enable providers to succeed in this new model.

"Pearl was founded on a simple belief: healthcare should reward keeping people healthy, not just treating them when they are sick," said Michael Kopko, co-founder and CEO of Pearl Health. "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."

"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," said Vineeta Agarwala, MD, general partner at Andreessen Horowitz. "Pearl's ability to enable providers to participate in value-based payment p"rograms 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."

"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," said Phil Gager, Senior Managing Director, Tech Lending at Trinity Capital. "We are proud to support this team and what they are building as they enter their next stage of growth."

Pearl's AI platform helps providers across the country manage and predict risk, orchestrate workflows, and automate action before issues become costly emergencies. Pearl's continued expansion of Performance Intelligence will empower population health leaders and care teams with AI-driven, chat-enabled expertise focused on their unique patients and opportunities - delivering real-time insights on total cost of care, quality, and utilization patterns to surface the highest-impact actions. Pearl is also advancing development of Care Orchestration AI agents to further automate administrative workflows such as annual wellness visit scheduling, post-discharge follow-ups, and care management outreach, freeing clinicians to spend more time on patient care.

Pearl supports a network of more than 10,000 providers, including health systems like University of Vermont Health and MDX Hawaii, across over 40 states, caring for over 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 is projected to deliver $500 million in gross savings and triple its patient base from 2024 through the end of 2026. The company reached profitability in 2025 – a milestone few in this space have achieved while maintaining aggressive growth. 

The new raise includes a $50 million equity round and a $60 million credit facility, which will power the next phase of the company's growth, bringing its intelligent risk management model to more providers, more patients, and new segments of the Medicare market.

About Pearl Health
Pearl Health enables clinicians and care organizations to deliver smarter, more affordable care outcomes through AI-powered predictive insights, financial risk modeling, and streamlined workflows. The company is building the platform for healthcare outcomes, identifying at-risk patients so providers can intervene before issues become emergencies. Founded in 2020, Pearl supports a network of over 10,000 providers and leading health systems across more than 40 states. Learn more at pearlhealth.com.

About Andreessen Horowitz (a16z)
a16z invests in seed to venture to growth-stage technology companies across AI, bio + healthcare, consumer, crypto, enterprise, fintech, games, infrastructure, and companies building toward American dynamism. We believe the future belongs to builders, and our job is to make sure they have what they need to build it. 

About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager that seeks to deliver consistent returns for investors through access to private credit markets. Trinity Capital sources and structures investments in well-capitalized growth-oriented companies across five distinct lending verticals: Sponsor Finance, Equipment Finance, Tech Lending, Asset Based Lending, and Healthcare & Life Sciences. As a long-term, trusted partner for innovative companies seeking tailored debt solutions, Trinity Capital has deployed more than $5.7 billion across over 470 investments since inception in 2008 (as of March 31, 2026). Headquartered in Phoenix, Arizona, Trinity Capital's dedicated team is strategically located across the United States and Europe. For more information on Trinity Capital, please visit trinitycapital.com and stay connected to the latest activity via LinkedIn.

Notifications

These Materials contain forward-looking statements that relate to, without limitation, future financial performance, business strategy, projected growth, market opportunities, operational plans, anticipated regulatory developments, competitive position, and other similar matters. These statements can generally be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "continue," "seek," "project," "plan," "potential," "preliminary," "possible," or similar expressions. Forward-looking statements are based on current expectations, estimates, forecasts, and projections about the business of Pearl Health, Inc. and its affiliates (collectively, "Pearl"), the healthcare industry, and general economic conditions. These statements are not guarantees of future performance and involve significant risks, uncertainties, and assumptions that are difficult to predict. Financial projections contained in the Materials are inherently uncertain and speculative in nature and should not be relied upon as necessarily being indicative of future results. The assumptions underlying these projections may prove to be inaccurate, and actual results may vary significantly from projected results. Pearl Health has not independently verified and does not warrant the accuracy or completeness of any third-party data or market research referenced herein.

The Materials are for informational purposes only and do not constitute an offer to buy or sell any securities of Pearl.  Any offer or sale of securities will be made only through definitive offering documents, which will contain material information not contained herein and which will supersede these Materials in their entirety. The Materials should not be construed as investment, legal, tax, or financial advice. Pearl Health undertakes no obligation to publicly update or revise any forward-looking statements, projections or other aspects of the Materials, whether as a result of new information, future events, changed circumstances, or otherwise, except as may be required by applicable securities laws. 

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SOURCE Pearl Health