evolvedMD Announces $34M Series B Led by Goldman Sachs

Gunderson Dettmer represented client evolvedMD, a Collaborative Care Management (CoCM) provider, in its $34 million Series B financing led by Sustainable Investing at Goldman Sachs Alternatives. Existing investors Conductive Ventures, FCA Venture Partners, Healthworx Ventures, Techonic Ventures and Waterline Ventures also participated in the financing.

Founded in 2017, evolvedMD delivers care using an evidence-based approach that integrates mental health into primary care and other specialties. The company is the trusted partner of leading primary care groups and renowned health systems including Banner Health, HonorHealth, VillageMD, Evernorth, Ogden Clinic, Tampa General Hospital, and others. Through its partner practices, evolvedMD addresses patients with Medicaid, Medicare, and commercial insurance coverage, and served over 36,000 patients in 2024.

In the announcement of the transaction, evolvedMD Co-Founder and CEO Erik Osland said, “evolvedMD was created to address the significant behavioral health needs in the United States, with a unique model designed to provide integrated, high-quality care to patients. We are excited to further our mission of increasing behavioral health care availability and expanding our reach, while maintaining our core company focus of improving accessibility of care. We look forward to partnering with the Goldman Sachs Alternatives team on this next phase of our growth journey and leveraging the resources and expertise that the Goldman Sachs team can bring to bear.”

The Gunderson deal team was led by Michael Hacker and included Alexandra Noymer, Amy Hedlund and Bennett Evans.

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evolvedMD
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