VCs Give Solace Health $1 Billion Valuation for Patient Advocacy

The demand for help navigating the famously complex US health care system has propelled a startup called Solace Health to a $1 billion valuation — offering health advocacy for people trying to schedule appointments, interpret treatment plans and understand medical bills.

Venture capital firm IVP led the financing, which brought in $130 million for the startup, Solace plans to announce Tuesday. Other investors include Menlo Ventures, SignalFire, Torch Capital, Inspired Capital and RiverPark Ventures.

Chief Executive Officer Jeremy Gurewitz started the company in 2022, after his mother died from pancreatic cancer. Although his mom was a doctor herself, she struggled with the health system during her cancer treatment, ...