Companies · Other Health Care

American Well Corp

Boston · Other Health Care · https://www.americanwellcorp.com/

Diligence memoA one-page analyst read on American Well Corp — recommendation, valuation, rhythm, risks.
$755.5M
Total raised · real
10
Rounds
1.1×
Latest step-up
Top 1%
Sector rank · raised
Series D+
Latest stage · inferred · Fri Aug 27 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

American Well Corp 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 0.33× 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 4.8 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

American Well Corp is one of 5377 Other Health Care companies tracked from Boston. By capital raised it ranks among the largest (ahead of 100% of sector peers), and among the largest by modeled valuation est..

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

AmericanWell

AmericanWell

Find AmericanWell online

Trades publicly as AmericanWell.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
27
Investors (latest)
2021-08-27
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$10.0BSeries A · 2009-10-14 Raised $10M (real) Modeled valuation $202M (est)Series A2009Series B · 2010-10-08 Raised $25M (real) Modeled valuation $557M (est)Series B2010Series B · 2010-10-08 Raised $37M (real) Modeled valuation $823M (est)Series B2010Series C · 2010-10-08 Raised $81M (real) Modeled valuation $1.9B (est)Series C2010Series B · 2015-08-18 Raised $767K (real) Modeled valuation $17M (est)Series B2015Series D+ · 2016-06-28 Raised $291M (real) Modeled valuation $6.7B (est)Series D+2016Series D+ · 2018-07-03 Raised $75M (real) Modeled valuation $1.7B (est)Series D+2018Series D+ · 2019-11-14 Raised $32M (real) Modeled valuation $742M (est)Series D+2019Series D+ · 2019-12-16 Raised $60M (real) Modeled valuation $1.4B (est)Series D+2019Series D+ · 2020-05-01 Raised $134M (real) Modeled valuation $3.1B (est)Series D+2020Series D+ · 2021-08-10 Raised $55M (real) Modeled valuation $1.0B (est)Series D+2021Series D+ · 2021-08-27 Raised $60M (real) Modeled valuation $1.1B (est)Series D+2021Cumulative $862M

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
Series A$10.0M · 2009
Series B$25.1M · 2010
Series B extension$37.1M · 2010
Series C$81.2M · 2010
Bridge · Series C-stage$767K · 2015smaller follow-on
Series D+$290.6M · 2016
Series D+ extension$75.4M · 2018
Series D+ extension$32.3M · 2019
Series D+ extension$59.9M · 2019
Series D+ extension$134.3M · 2020
Series D+ extension$55.0M · 2021
Series D+ extension$60.1M · 2021

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — 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
$1.1B
Base estimate est.
$320.1M
Conservative case
$2.1B
Upside case
$500.8M
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.

Series A · modeled $201.8M · 2009-10-142009Series B · modeled $556.9M · 2010-10-08Series B · modeled $823.0M · 2010-10-08Series C · modeled $1.9B · 2010-10-08Series B · modeled $17.0M · 2015-08-18Series D+ · modeled $6.7B · 2016-06-28Series D+ · modeled $1.7B · 2018-07-03Series D+ · modeled $742.1M · 2019-11-14Series D+ · modeled $1.4B · 2019-12-16Series D+ · modeled $3.1B · 2020-05-01Series D+ · modeled $1.0B · 2021-08-10Series D+ · modeled $1.1B · 2021-08-272021
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
$63.7M/yr
Capital velocity
16.7 yr
On record since
2009
First round
12
Rounds on file
How it compares to the market

Benchmarked against 5377 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) 311× above median
This company$755.5M
Sector median$2.4M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.5× of median
This company$60.1M
Sector median$123.0M
Modeled value — vs sector median (estimate, all stages) 49× above median
This company$1.1B
Sector median$22.1M

Raised more than 100% of sector peers (real $). Modeled value above 97% 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 #24 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)Magnolia (MH) Holdings, L.P. · Series D+ Raised $259.8M · modeled $4.4B (est)Orca BioSystems Inc · Series D+ Raised $192.0M · 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)American Well Corp (this company) Raised $755.5M · modeled $1.1B (est)American Well Corp
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×
Magnolia (MH) Holdings, L.P.Series D+$259.8M$4.4B1.33×
Orca BioSystems IncSeries D+$192.0M$4.4B1.33×
eHealth, Inc.Series D+$225.0M$4.4B1.32×
ECG Europe, Inc.Series D+$200.0M$3.6B1.09×
American Well Corp this companySeries D+$755.5M$1.1B0.33×
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.
Series A$10.0M2009-10-14$45.5M$201.8M85%
Series B$25.1M2010-10-08$139.7M$556.9M85%
Series B$37.1M2010-10-08$206.4M$823.0M85%
Series C$81.2M2010-10-08$541.3M$1.9B85%
Series B$767K2015-08-18$4.3M$17.0M90%
Series D+$290.6M2016-06-28$2.4B$6.7B90%
Series D+$75.4M2018-07-03$628.4M$1.7B90%
Series D+$32.3M2019-11-14$268.8M$742.1M90%
Series D+$59.9M2019-12-16$499.2M$1.4B90%
Series D+$134.3M2020-05-01$1.1B$3.1B90%
Series D+$55.0M2021-08-10$458.3M$1.0B90%
Series D+$60.1M2021-08-27$500.8M$1.1B90%
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. Series A$10.0M2009-10-14
    • First recorded raise — entered as Series A.
    • 1 investor on this round.
  2. Series B$25.1M2010-10-08
    • Raised 12 mo later, in step with the ~14 mo sector norm.
    • Round 2.5× larger than the prior — scaling up.
    • 18 investors on this round.
  3. Series B$37.1M2010-10-08
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× larger than the prior — scaling up.
    • 22 investors on this round.
  4. Series C$81.2M2010-10-08
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.2× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 108 investors on this round.
  5. Series B$767K2015-08-18
    • Raised again after 58 mo — slower than the ~14 mo sector norm.
    • Round 105.8× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  6. Series D+$290.6M2016-06-28
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round 378.7× larger than the prior — scaling up.
    • 52 investors on this round.
  7. Series D+$75.4M2018-07-03
    • Raised again after 24 mo — slower than the ~14 mo sector norm.
    • Round 3.9× smaller than the prior — bridge or down round.
    • 134 investors on this round.
  8. Series D+$32.3M2019-11-14
    • Raised 16 mo later, in step with the ~14 mo sector norm.
    • Round 2.3× smaller than the prior — bridge or down round.
    • 11 investors on this round.
  9. Series D+$59.9M2019-12-16
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round 1.9× larger than the prior — scaling up.
    • 29 investors on this round.
  10. Series D+$134.3M2020-05-01
    • Came back fast: 5 mo vs the ~14 mo sector norm.
    • Round 2.2× larger than the prior — scaling up.
    • 17 investors on this round.
  11. Series D+$55.0M2021-08-10
    • Raised 15 mo later, in step with the ~14 mo sector norm.
    • Round 2.4× smaller than the prior — bridge or down round.
    • 81 investors on this round.
  12. Series D+$60.1M2021-08-27
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 27 investors on this round.
Intelligence
2022 ~Q3
Modeled next raise · ~13mo cadence
$65.7M
Modeled next size est.range $60.1M$105.1M
1.1×
Last step-up
$63.7M/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
Deval Patrick3 other2021-08
James Malone2 other2010-10
Delos Cosgrove1 other2021-08
DEREK ROSS1 other2021-08
KEITH ANDERSON1 other2021-08
AMBER HOWE2021-08
Bradford F. Gay2010-10
BRADFORD GAY2021-08
Brendan F. O'Grady2015-08
BRENDAN O'GRADY2021-08
BRENDAN W. O'GRADY2019-11
DEBORAH JACKSON2021-08
Derek F. Ross2018-07
Derek L. Ross2015-08
DEREK W. ROSS2019-11
Deval F. Patrick2015-08
DEVAL W. PATRICK2019-11
Ido M. Schoenberg2009-10
Ido Schoenberg2010-10
JASON MEDEIROS2021-08
John F. Jesser2015-08
KEITH W. ANDERSON2019-11
KURT KNIGHT2021-08
MARY MODAHL2021-08
Registry & provenance

American Well Corp 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
1393584
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.

CompanySectorStageRaised · realValue · estWhy similar
Cityblock Health, Inc.InsuranceSeries D+$847.8M$5.4Bnetwork1 shared operator · same stage
Coding Solutions Topco, Inc.Other Health CareSeries D+$376.3M$588.6Msame sector · same stage
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HistoSonics, Inc.Other Health CareSeries D+$308.2M$1.0Bsame sector · same stage
Aeneas Parent Corp.Other Health CareSeries D+$298.3M$644.1Msame sector · same stage
Repligen CorpOther Health CareSeries D+$290.6M$1.1Bsame sector · same stage
Ecph, LlcOther Health CareSeries D+$285.4M$915.4Msame sector · same stage
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
WELL Health Technologies Corp.HealthtechSeed$92.8M83%
WellSense, Inc.Other Health CareSeries A$31.0M81%
WellWell LLCOtherSeed$18.8M80%
Wellclarity IncOther Health CareSeed$40.1M80%
Wellist, Inc.Other Health CareSeries A$1.3M79%
American Physicians Group, LLCOther Health CarePre-Seed$26.6M79%
Alternate Health Corp.HealthtechSeed$8.3M79%
InterWell Health, LLCHealthtechSeries C$944.9M78%
Frequently asked
How much funding has American Well Corp raised?
American Well Corp has raised approximately $755.5M in disclosed capital across 10 recorded financing rounds, aggregated from public filings.
What is American Well Corp's estimated valuation?
Provath's modeled valuation for American Well Corp is approximately $1.1B (modeled range $320.1M–$2.1B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is American Well Corp at?
American Well Corp's latest modeled financing stage is Series D+. Its most recent recorded round closed around Fri Aug 27.
What does American Well Corp do and where is it based?
American Well Corp operates in the Other Health Care sector, based in Boston. AmericanWell
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