Companies · Other Health Care

Accolade, Inc.

PLYMOUTH MEETING · Other Health Care · https://www.accolade.com/contact

Diligence memoA one-page analyst read on Accolade, Inc. — recommendation, valuation, rhythm, risks.
$661.1M
Total raised · real
11
Rounds
0.0×
Latest step-up
Top 1%
Sector rank · raised
Series D+
Latest stage · inferred · Thu Sep 30 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

Accolade, Inc. looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the health care sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.06× the median modeled value of Series D+ Other Health Care companies in 2019–2021 (26 peers) — value vs value, same stage and era.
Dormant
  • Last raise 4.7 yr ago; this sector typically re-raises about every 14 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other Health Care

Accolade, Inc. is one of 5376 Other Health Care companies tracked from PLYMOUTH MEETING. By capital raised it ranks among the largest (ahead of 100% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

Contact Accolade today to see what Personalized Healthcare is all about.

Contact Accolade today to see what Personalized Healthcare is all about. Supporting Members and providing One Place for Health and Care. If you have misplaced your Accolade Care Advocate’s direct number, please call us at (610) 834-2989 or visit the member portal. If you’re reaching out about a carrier, TPA, partnership, or other business inquiry, please visit Transcarent's website and complete the contact form there. If you have misplaced your Accolade Care Advocate’s direct number, please call us at (610) 834-2989 or visit the member portal. If you’re reaching out about a carrier, TPA, partnership, or other business inquiry, please visit Transcarent's website and complete the contact form there. If you have misplaced your Accolade Care Advocate’s direct number, please call us at (610) 834-2989 or visit the member portal. If you’re reaching out about a carrier, TPA, partnership, or other business inquiry, please visit Transcarent's website and complete the contact form there.

Find Accolade, Inc. online

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
1
Investors (latest)
2021-09-30
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$2.5B$5.0B$7.5B$10.0BSeed · 2009-10-07 Raised $4.0M (real) Modeled valuation $99M (est)Seed2009Series B · 2010-06-14 Raised $17M (real) Modeled valuation $375M (est)Series B2010Series B · 2013-12-12 Raised $30M (real) Modeled valuation $665M (est)Series B2013Series B · 2014-04-25 Raised $2.8M (real) Modeled valuation $62M (est)Series B2014Series B · 2015-07-06 Raised $23M (real) Modeled valuation $498M (est)Series B2015Series B · 2015-07-06 Raised $39M (real) Modeled valuation $855M (est)Series B2015Series C · 2016-07-26 Raised $55M (real) Modeled valuation $1.3B (est)Series C2016Series C · 2018-03-16 Raised $27M (real) Modeled valuation $622M (est)Series C2018Series C · 2019-10-02 Raised $20M (real) Modeled valuation $457M (est)Series C2019Series D+ · 2021-03-03 Raised $130M (real) Modeled valuation $2.6B (est)Series D+2021Series D+ · 2021-06-09 Raised $325M (real) Modeled valuation $6.2B (est)Series D+2021Series D+ · 2021-09-30 Raised $11M (real) Modeled valuation $200M (est)Series D+2021Cumulative $684M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$4.0M · 2009
Series B$16.9M · 2010no Series A on file
Series B extension$30.0M · 2013
Series B extension$2.8M · 2014
Series B extension$22.5M · 2015
Series B extension$38.6M · 2015
Series C$55.0M · 2016
Series C extension$27.2M · 2018
Series C extension$20.0M · 2019
Series D+$130.0M · 2021
Series D+ extension$325.3M · 2021
Series D+ extension$11.3M · 2021

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 67%.

Modeled valuation trajectory
$199.9M
Base estimate est.
$59.9M
Conservative case
$379.9M
Upside case
$93.8M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the health care sector profile. Directional, not a quoted figure.

Seed · modeled $99.1M · 2009-10-072009Series B · modeled $375.4M · 2010-06-14Series B · modeled $664.6M · 2013-12-12Series B · modeled $62.0M · 2014-04-25Series B · modeled $498.5M · 2015-07-06Series B · modeled $855.2M · 2015-07-06Series C · modeled $1.3B · 2016-07-26Series C · modeled $621.5M · 2018-03-16Series C · modeled $457.3M · 2019-10-02Series D+ · modeled $2.6B · 2021-03-03Series D+ · modeled $6.2B · 2021-06-09Series D+ · modeled $199.9M · 2021-09-302021
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
80%
Survival probability
64% low · 88% high
1.23×/yr
Annual markup
1.38×/yr upside case
4.8 yr
Elapsed time used
4.8 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
13 mo
Avg between rounds
$55.2M/yr
Capital velocity
16.7 yr
On record since
2009
First round
12
Rounds on file
How it compares to the market

Benchmarked against 5376 companies in Other Health Care. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 272× above median
This company$661.1M
Sector median$2.4M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.1× of median
This company$11.3M
Sector median$123.0M
Modeled value — vs sector median (estimate, all stages) 9.1× above median
This company$199.9M
Sector median$22.1M

Raised more than 100% of sector peers (real $). Modeled value above 87% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #26 of 26.

This companyCohort peer
$100.0M$1.0B$10.0B$100.0B$100.0M$1.0BCapital raised (log)ZAHN Parent, LLC · Series D+ Raised $379.9M · modeled $8.7B (est)Covetrus, Inc. · Series D+ Raised $361.1M · modeled $8.3B (est)EQH Parent, LLC · Series D+ Raised $334.2M · modeled $6.7B (est)SonerMed, LLC · Series D+ Raised $300.0M · modeled $6.7B (est)Fs Usme Lp · Series D+ Raised $282.0M · modeled $6.0B (est)Medable Inc. · Series D+ Raised $501.0M · modeled $5.4B (est)Cedar Cares, Inc. · Series D+ Raised $569.4M · modeled $5.1B (est)Inotiv, Inc. · Series D+ Raised $280.1M · modeled $4.8B (est)Orca BioSystems Inc · Series D+ Raised $192.0M · modeled $4.4B (est)Magnolia (MH) Holdings, L.P. · Series D+ Raised $259.8M · modeled $4.4B (est)eHealth, Inc. · Series D+ Raised $225.0M · modeled $4.4B (est)ECG Europe, Inc. · Series D+ Raised $200.0M · modeled $3.6B (est)Accolade, Inc. (this company) Raised $661.1M · modeled $199.9M (est)Accolade, Inc.
CompanyStageRaised · realValue · estvs peer med.
ZAHN Parent, LLCSeries D+$379.9M$8.7B2.64×
Covetrus, Inc.Series D+$361.1M$8.3B2.51×
EQH Parent, LLCSeries D+$334.2M$6.7B2.04×
SonerMed, LLCSeries D+$300.0M$6.7B2.02×
Fs Usme LpSeries D+$282.0M$6.0B1.80×
Medable Inc.Series D+$501.0M$5.4B1.63×
Cedar Cares, Inc.Series D+$569.4M$5.1B1.54×
Inotiv, Inc.Series D+$280.1M$4.8B1.45×
Orca BioSystems IncSeries D+$192.0M$4.4B1.33×
Magnolia (MH) Holdings, L.P.Series D+$259.8M$4.4B1.33×
eHealth, Inc.Series D+$225.0M$4.4B1.32×
ECG Europe, Inc.Series D+$200.0M$3.6B1.09×
Accolade, Inc. this companySeries D+$661.1M$199.9M0.06×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$4.0M2009-10-07$20.0M$99.1M85%
Series B$16.9M2010-06-14$94.1M$375.4M85%
Series B$30.0M2013-12-12$166.7M$664.6M85%
Series B$2.8M2014-04-25$15.6M$62.0M85%
Series B$22.5M2015-07-06$125.0M$498.5M85%
Series B$38.6M2015-07-06$214.4M$855.2M85%
Series C$55.0M2016-07-26$366.7M$1.3B85%
Series C$27.2M2018-03-16$181.2M$621.5M90%
Series C$20.0M2019-10-02$133.3M$457.3M90%
Series D+$130.0M2021-03-03$1.1B$2.6B90%
Series D+$325.3M2021-06-09$2.7B$6.2B90%
Series D+$11.3M2021-09-30$93.8M$199.9M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$4.0M2009-10-07
    • First recorded raise — entered as Seed.
    • 15 investors on this round.
  2. Series B$16.9M2010-06-14
    • Raised 8 mo later, in step with the ~14 mo sector norm.
    • Round 4.2× larger than the prior — scaling up.
    • 17 investors on this round.
  3. Series B$30.0M2013-12-12
    • Raised again after 42 mo — slower than the ~14 mo sector norm.
    • Round 1.8× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 17 investors on this round.
  4. Series B$2.8M2014-04-25
    • Came back fast: 4 mo vs the ~14 mo sector norm.
    • Round 10.7× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  5. Series B$22.5M2015-07-06
    • Raised 14 mo later, in step with the ~14 mo sector norm.
    • Round 8.0× larger than the prior — scaling up.
    • 2 investors on this round.
  6. Series B$38.6M2015-07-06
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.7× larger than the prior — scaling up.
    • 5 investors on this round.
  7. Series C$55.0M2016-07-26
    • Raised 13 mo later, in step with the ~14 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • 4 investors on this round.
  8. Series C$27.2M2018-03-16
    • Raised 20 mo later, in step with the ~14 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 17 investors on this round.
  9. Series C$20.0M2019-10-02
    • Raised 19 mo later, in step with the ~14 mo sector norm.
    • Round 1.4× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  10. Series D+$130.0M2021-03-03
    • Raised 17 mo later, in step with the ~14 mo sector norm.
    • Round 6.5× larger than the prior — scaling up.
    • 43 investors on this round.
  11. Series D+$325.3M2021-06-09
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 2.5× larger than the prior — scaling up.
    • 79 investors on this round.
  12. Series D+$11.3M2021-09-30
    • Came back fast: 4 mo vs the ~14 mo sector norm.
    • Round 28.9× smaller than the prior — bridge or down round.
    • 1 investor on this round.
Intelligence
2022 ~Q4
Modeled next raise · ~13mo cadence
$11.3M
Modeled next size est.range $11.3M$18.0M
0.0×
Last step-up
$55.2M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Peter Klein4 other2019-10
James C. Madden, V2 other2015-07
J Michael Cline2 other2009-10
Arthur H. Spiegel1 other2009-10
Dawn J. Lepore1 other2021-03
Elizabeth Nabel1 other2021-06
James C Madden1 other2009-10
Patricia J. Wadors1 other2021-03
Thomas J Neff1 other2009-10
Thomas K Spann1 other2009-10
Cindy Kent2021-06
Cindy Michael Kent2021-03
Dave T. Swift2018-03
Dawn T. Lepore2019-10
Debbie T. Cohen2015-07
Edgar, Jr. T Bronfman2013-12
Edgar T. Bronfman, Jr.2015-07
Elizabeth J. Nabel2021-09
Elizabeth T. Napolitano2018-03
Ivor T. Horn2018-03
Jeff J. Brodsky2021-06
Jeff J. Jordan2021-03
Jeffrey Brodsky2021-09
Jeff T. Jordan2016-07
Registry & provenance

Accolade, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1481646
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

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Everspring Inc.OtherSeries B$56.5M$46.0Mnetwork3 shared operators
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Vertiflex, Inc.Other Health CareSeries C$134.1M$1.0Bnetwork1 shared operator · same sector
Enable Injections, IncOther Health CareSeries D+$245.1M$221.7Msame sector · same stage
NoHo APC Inc.Other Health CareSeries B$37.0M$265.5Mnetwork1 shared operator · same sector
Origin Holdings Inc.Other Health CareSeries D+$137.0M$253.1Msame sector · same stage
Moderna Therapeutics, Inc.BiotechnologyGrowth/Late$451.4M$19.2Bnetwork1 shared operator
TriSalus Life Sciences, Inc.Other Health CareSeries C$209.1M$145.0Msame sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Transcarent, Inc.Other Health CareGrowth/Late$5.0B71%
AcceleraME, IncOther Health CareSeed$4.2M67%
TranspareRx CorpOther Health CareSeed$20.3M67%
Transenterix Inc.Other Health CareSeries D+$21.9M67%
Accure Acne, Inc.Other Health CareSeries B$214.4M65%
12573849 Canada Inc.Other Health CareSeed$61.1M65%
AccuVein Inc.Other Health CareSeries B$53.4M65%
Telemed2U, Inc.Other Health CareSeries A$127.2M65%
Frequently asked
How much funding has Accolade, Inc. raised?
Accolade, Inc. has raised approximately $661.1M in disclosed capital across 11 recorded financing rounds, aggregated from public filings.
What is Accolade, Inc.'s estimated valuation?
Provath's modeled valuation for Accolade, Inc. is approximately $199.9M (modeled range $59.9M–$379.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Accolade, Inc. at?
Accolade, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Thu Sep 30.
What does Accolade, Inc. do and where is it based?
Accolade, Inc. operates in the Other Health Care sector, based in PLYMOUTH MEETING. Contact Accolade today to see what Personalized Healthcare is all about.
Explore related

See where Accolade, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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