Buzzy healthcare startup Solace just raised a fresh round of funding led by VC firm Menlo Ventures, Business Insider has learned.
Solace, which connects patients with healthcare advocates, is raising a Series B funding round that values the startup at over $300 million, according to multiple sources with knowledge of the deal.
These sources said Solace was seeking to raise around $40 million in the Series B round.
Solace didn’t respond to requests for comment for this story. A Menlo Ventures spokesperson said the firm doesn’t comment on rumors or speculation.
Cofounders Jeremy Gurewitz, CEO, and Sara Sargent, chief product officer, launched Solace in 2022 to help patients navigate the many complexities of the healthcare system, from scheduling hard-to-get appointments to appealing insurance denials.
The startup matches Medicare patients with former doctors, nurses, pharmacists, and other clinical professionals in all 50 states. Solace says it provides virtual support for over 100 conditions, including autoimmune diseases, chronic conditions, and hospitalizations.
Medicare didn’t cover patient advocacy services until last year. Solace says its services are now covered by federal Medicare and many Medicare Advantage plans.
At the beginning of 2025, Solace had a revenue run rate of $10 million, according to multiple people familiar with the company’s financials.
Before its Series B, Solace has raised $21 million to date, including $14 million in Series A funding in August led by Inspired Capital. Other firms, including Craft Ventures and Torch Capital, and angel investors Anne Wojcicki, the former CEO of 23andMe, and the late Susan Wojcicki, the former CEO of YouTube, joined the Series A.
Solace’s Series B raise comes after months of growing public ire toward the healthcare system, particularly health insurance companies, following the murder of UnitedHealthcare CEO Brian Thompson in December. Dozens of startups have popped up to deconstruct or simplify parts of that system, with many using AI to automate healthcare payment processes on behalf of providers.
Fewer startups have attempted to tackle healthcare’s complexities by working directly with patients. Oncology startup Thyme Care has taken a similar approach to specialty care, raising $178 million from Andreessen Horowitz and other VC firms to guide patients through their cancer treatments.
