In March 2025, Solace, a healthcare startup founded in 2022, secured a Series B funding round led by Menlo Ventures, valuing the company at over $300 million. The funding aims to expand Solace’s services, which connect Medicare patients with healthcare advocates to navigate the complexities of the healthcare system.
Solace’s platform matches Medicare patients with former doctors, nurses, pharmacists, and other clinical professionals across all 50 states, providing virtual support for over 100 conditions, including autoimmune diseases, chronic conditions, and hospitalizations. Notably, Medicare began covering patient advocacy services in 2024, and Solace’s services are now included in federal Medicare and many Medicare Advantage plans.
As of early 2025, Solace reported a revenue run rate of $10 million. Prior to this Series B round, the company had raised $21 million, including $14 million in Series A funding in August 2024, led by Inspired Capital. Other investors in the Series A round included Craft Ventures, Torch Capital, and angel investors Anne Wojcicki, former CEO of 23andMe, and the late Susan Wojcicki, former CEO of YouTube.
The Series B funding comes amid growing public dissatisfaction with the healthcare system, particularly health insurance companies, following the December 2024 shooting of UnitedHealthcare CEO Brian Thompson in New York City. This incident has intensified scrutiny of the healthcare industry, leading to increased support for startups like Solace that aim to simplify healthcare processes for patients.
Solace’s approach aligns with a broader trend of startups leveraging artificial intelligence to disrupt healthcare payment processes. For instance, several companies are using AI to automate healthcare billing, aiming to reduce administrative burdens and improve efficiency. Additionally, startups like Thyme Care are guiding patients through complex treatments, such as cancer care, to enhance health outcomes.
The investment in Solace underscores a growing recognition of the need for patient-centric solutions in the healthcare sector. By connecting patients with experienced healthcare professionals, Solace aims to empower individuals to make informed decisions, navigate insurance complexities, and ultimately improve their health outcomes.
As the healthcare landscape continues to evolve, the success of companies like Solace may serve as a model for future innovations focused on patient advocacy and support.
How does Solace ensure the advocates’ expertise adn qualifications?
Table of Contents
- How does Solace ensure the advocates’ expertise adn qualifications?
- Frequently Asked Questions (FAQ)
- What is Solace?
- How does Solace’s funding history support its growth?
- How does Medicare coverage impact Solace’s services?
- What types of conditions can solace’s advocates assist with?
- How can I determine if my Medicare plan covers Solace’s services?
- What is the significance of Solace’s Series B funding?
- How does Solace’s approach align with broader healthcare trends?
Frequently Asked Questions (FAQ)
What is Solace?
Solace is a healthcare startup founded in 2022 that connects Medicare patients with experienced healthcare advocates to help navigate the complexities of the healthcare system. Their platform matches patients with former doctors, nurses, pharmacists, and other clinical professionals across all 50 states, providing virtual support for over 100 conditions, including autoimmune diseases, chronic conditions, and hospitalizations.
How does Solace’s funding history support its growth?
In august 2024,Solace raised $14 million in Series A funding,led by Inspired Capital,with participation from Craft Ventures,Torch Capital,and angel investors Anne Wojcicki and the late susan Wojcicki. This funding aimed to accelerate the progress of Solace’s digital platform and expand its network of healthcare advocates. In March 2025, Solace secured a Series B funding round led by Menlo Ventures, valuing the company at over $300 million, further supporting its mission to empower patients through healthcare advocacy.
How does Medicare coverage impact Solace’s services?
As of 2024, Medicare began covering patient advocacy services, making Solace’s services accessible to a broader audience. Solace’s platform is now included in federal Medicare and many Medicare Advantage plans, allowing patients to receive support without critically important out-of-pocket expenses. Solace bills Medicare and other insurance plans directly, ensuring patients are not surprised by unexpected costs. During sign-up, Solace confirms eligibility before scheduling the first visit, and if a deductible remains, advocacy services count toward it before coverage begins. Most solace patients pay little to nothing out of pocket. ([solace.health](https://www.solace.health/articles/how-solace-advocacy-is-covered-by-medicare?utm_source=openai))
What types of conditions can solace’s advocates assist with?
Solace’s advocates provide virtual support for over 100 conditions, including autoimmune diseases, chronic conditions, and hospitalizations. Their services are designed to help patients navigate the complexities of the healthcare system, communicate with doctors, and manage their health effectively. ([solace.health](https://www.solace.health/articles/how-solace-advocacy-is-covered-by-medicare?utm_source=openai))
How can I determine if my Medicare plan covers Solace’s services?
To find out if your Medicare plan covers Solace’s services, you can contact solace directly. Thay offer a simple process to check your eligibility: you’ll first meet with a licensed Solace physician for a brief appointment, which can be done over the phone. During this visit, they’ll confirm your insurance coverage and match you with a qualified advocate suited to your needs. ([solace.health](https://www.solace.health/articles/how-solace-advocacy-is-covered-by-medicare?utm_source=openai))
What is the significance of Solace’s Series B funding?
The Series B funding, led by Menlo Ventures and valuing Solace at over $300 million, underscores the growing recognition of the need for patient-centric solutions in the healthcare sector. This investment will enable Solace to expand its services, enhance its platform, and reach more patients, further solidifying its role in simplifying healthcare processes and improving health outcomes. ([businesswire.com](https://www.businesswire.com/news/home/20240822742962/en/Solace-Raises-14M-to-Empower-Patients-through-Healthcare-Advocates?utm_source=openai))
How does Solace’s approach align with broader healthcare trends?
Solace’s approach aligns with a broader trend of startups leveraging artificial intelligence to disrupt healthcare payment processes. For instance, several companies are using AI to automate healthcare billing, aiming to reduce administrative burdens and improve efficiency. Additionally, startups like Thyme Care are guiding patients through complex treatments, such as cancer care, to enhance health outcomes. ([businesswire.com](https://www.businesswire.com/news/home/20240822742962/en/Solace-Raises-14M-to-Empower-Patients-through-Healthcare-Advocates?utm_source=openai))
