Cityblock Health company profile: valuation, funding & revenue

This Cityblock Health company profile covers the company's valuation, revenue, funding rounds, investors and history. Cityblock Health works in healthcare, with a focus on value-based care for underserved communities. It was founded in 2017 and is headquartered in Brooklyn, New York, United States. Its latest valuation on record is US$5.7 billion (reported) (September 2021). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Cityblock Health timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2017 — Cityblock Health is founded in Brooklyn by Toyin Ajayi (CEO), Iyah Romm and Bay Gross.
• Dec 2020 — Series C: US$160M, valuing the company at More than US$1B. Investors: General Catalyst (lead).
• Sep 2021 — Series D: About US$400M (reported), valuing the company at US$5.7B (reported). Investors: SoftBank (lead, reported).
• September 2021 — Total funding: About US$900 million raised after the 2021 round (as estimated by Fierce Healthcare).

Investors

Overview

Cityblock Health provides primary care, behavioural health and social support to people with complex needs in lower-income communities, mainly those covered by Medicaid or eligible for both Medicaid and Medicare. Its care teams, which combine doctors, nurses, behavioural health specialists and community health partners, visit members at home, in neighbourhood clinics and virtually, and help with practical needs such as housing, food and transportation that affect health. Cityblock works under value-based contracts with health plans, taking responsibility for members' total cost of care and sharing savings when health improves and costs fall. In 2021 it was reported to have raised about US$400 million at a US$5.7 billion valuation, led by SoftBank.

Cityblock was founded in 2017 as a spinout from Sidewalk Labs, the urban technology company owned by Alphabet, Google's parent. Its co-founders were Toyin Ajayi, a physician who has served as CEO; Iyah Romm, a health policy and care delivery leader; and Bay Gross, a technologist. The founders aimed to design care around the realities of people with multiple chronic conditions, mental illness and social challenges, who are often poorly served by traditional clinics.

Products and services

• Primary care: visits at home, in clinics and virtually, focused on chronic conditions.
• Behavioural health: mental health and substance use support integrated with medical care.
• Community health partners: staff who help members navigate housing, benefits, food access and appointments.
• Care coordination technology: its own platform for tracking member needs, plans and outcomes across teams.
• 24/7 support: urgent help to avoid unnecessary emergency room visits.

Funding

Cityblock raised early funding from Alphabet's Sidewalk Labs and venture investors including Thrive Capital and Maverick Ventures. In December 2020 a US$160 million Series C led by General Catalyst valued it at more than US$1 billion. In 2021 it raised US$192 million and, in September 2021, STAT reported a further round of about US$400 million led by SoftBank at a US$5.7 billion valuation, citing people familiar with the matter. Cityblock confirmed new funding but didn't disclose the amount. We label the valuation as reported and dated 2021.

Business model

Cityblock partners with Medicaid managed care plans and other payers under value-based contracts. It receives payments per member and is rewarded when the total cost of members' care, including hospital stays and emergency visits, falls below targets while quality improves. If costs exceed targets, it may share losses. This model rewards keeping people healthy and out of hospital, but it requires significant upfront investment in care teams and carries financial risk.

Competition

Cityblock competes with value-based primary care companies such as Oak Street Health (now part of CVS), ChenMed, Iora (One Medical/Amazon), agilon health and Aledade; with Medicare Advantage-focused companies such as Devoted Health; and with community health centres and health plan care management programmes. Its focus on Medicaid and dual-eligible members with complex needs distinguishes it.

Cityblock Health at a glance

Cityblock Health is a Brooklyn-based value-based care company founded in 2017 as a spinout of Alphabet's Sidewalk Labs, co-founded by Toyin Ajayi, Iyah Romm and Bay Gross. It provides primary, behavioural and social care for Medicaid and dual-eligible members. It was reported in 2021 to be valued at US$5.7 billion after a SoftBank-led round of about US$400 million.

Timeline

• 2017: spun out of Sidewalk Labs.
• 2018: begins serving members in New York.
• December 2020: raises US$160 million at more than US$1 billion.
• 2021: raises US$192 million and a reported US$400 million at US$5.7 billion.
• 2022–2025: expands to more states and refines its care model.

Why value-based care for Medicaid is hard

Medicaid members often have complex combinations of chronic disease, mental illness, substance use and social challenges such as unstable housing. Their healthcare costs are concentrated in emergency visits and hospital stays. Value-based care aims to reduce these by providing proactive, coordinated support. But Medicaid payment rates are lower than commercial insurance or Medicare, and members may change plans or lose eligibility, making it harder to invest in long-term relationships. Several value-based care companies have struggled financially, and investors have become more cautious since 2021.

Social needs and health

Research has shown that factors such as housing, food security and transportation strongly affect health outcomes. Cityblock's model includes staff dedicated to addressing these needs, an approach increasingly supported by state Medicaid programmes that allow spending on certain social services. Measuring the return on such investments remains challenging.

Who uses Cityblock Health

Cityblock's members are mainly adults covered by Medicaid or both Medicaid and Medicare in the states where it operates, often with complex health and social needs. Its customers are health plans that contract with it.

Valuation context

Cityblock's reported valuation came at the 2021 peak for healthcare services investment. Since then, several listed value-based care companies lost much of their value, and some private peers raised at lower prices. Without a newer disclosed round, the 2021 figure should be treated with caution.

Risks

• Financial risk: value-based contracts can produce losses if costs exceed targets.
• Medicaid policy: eligibility changes and funding cuts affect membership.
• Operational complexity: care teams are costly to build in new markets.
• Stale valuation: the reported mark dates from 2021.

Questions for health plans

• What results has the model delivered on hospital use and quality?
• How is financial risk shared?
• How does it engage hard-to-reach members?

Questions for investors

• Are its value-based contracts profitable in mature markets?
• How does Medicaid eligibility churn affect membership?
• What capital will it need to expand to new states?

Latest developments (October 2026)

We found no confirmed new funding round for Cityblock Health in 2025 or 2026. Aggregator databases disagree about a possible 2024 round, so we continue to show the reported US$5.7 billion valuation from 2021 as the latest sourced figure. Cityblock provides care for Medicaid and dual-eligible members in partnership with health plans, a model under pressure from changes to Medicaid funding and eligibility in the US.

What to watch

Watch for new funding or a disclosed valuation, profitability updates, Medicaid policy changes and expansion. Our guide to healthcare AI startups covers related companies.

Takeaways

Communities gain an integrated care model for people with complex needs. Founders can see both the promise and difficulty of value-based care. Investors should treat its valuation as a reported 2021 mark.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. STAT
2. Fierce Healthcare
3. Fierce Healthcare