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CVS Health Ventures company logo
Corporate Venture
cvshealth.com/about-cvs-health/ventures

Investments

34

Portfolio Exits

1

About CVS Health Ventures

CVS Health Ventures is a dedicated corporate venture capital fund that invests in and partners with high-potential, early-stage companies that strive to make health care more accessible, affordable, and better.

Headquarters Location

One CVS Drive

Woonsocket, Rhode Island, 02895,

United States

1-888-607-4287

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Research containing CVS Health Ventures

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned CVS Health Ventures in 4 CB Insights research briefs, most recently on Sep 13, 2024.

Latest CVS Health Ventures News

Ellipsis Health unveils Sage, the emotionally intelligent AI Care Manager, backed by $45M from Salesforce, Khosla Ventures, and CVS Ventures

Jun 12, 2025

its $45 million Series A funding round, led by Salesforce, Khosla Ventures, and CVS Health Ventures. Previous investors, Mitsui Global Investment, Collier, E12, and AME Cloud Ventures, also participated in the round. Ellipsis Health is unveiling Sage , its AI Care Manager , which is able to support patients with complex physical, behavioral and social needs, who drive the majority of healthcare costs. Sage seeks to revolutionize care management by immediately expanding staffing capacity and reducing operating costs with proactive, high quality patient engagement. It leverages Ellipsis' proprietary Empathy Engine, built on patented vocal biomarker technology and trained on millions of live clinical patient calls. "The future of healthcare requires AI that can extend human capabilities while preserving the empathy and clinical judgment that defines great care," said Amit Khanna , SVP & GM, Health & Life Sciences at Salesforce. "Ellipsis Health's Sage does exactly that—combining the emotional intelligence learned from millions of real patient conversations with the workflow integration capabilities of Salesforce Health Cloud. This partnership represents a significant step forward in making AI-powered care management both scalable and genuinely patient-centered." "We're excited by the potential of combining conversational and agentic AI to expand access to healthcare services, particularly in areas like care management. Amid the rapid innovation unfolding across this space, we believe Ellipsis is positioned to lead—grounded in its strong clinical foundation and differentiated by its thoughtful approach to market positioning," said Vijay Patel , VP and Managing Partner of CVS Health Ventures. "As a former health system CEO and practicing physician, I've seen how hard it is to deliver quality care between visits, especially amid staffing shortages and clinician burnout," said Hal Paz of Khosla Ventures. "Voice-based care management has become essential, but it's nearly impossible to scale cost-effectively or without significant loss of quality. Sage stands apart by training its AI on real clinical conversations, enabling emotionally intelligent, context-aware support, even for the most complex patients. This helps clinicians practice at the top of their license, scale high-quality care, and reduce costs—a win for providers, patients, and health systems alike." "Ellipsis Health is pioneering a new frontier in healthcare where AI delivers intelligent and compassionate support to patients through its AI voice agent, Sage," said Jerry Yang , founding partner of AME Cloud Ventures. "We at AME Cloud Ventures are proud to back Ellipsis Health as they enhance the human experience in healthcare, making empathetic care scalable and more accessible." The future of AI-powered care management Unlike traditional AI-powered voice assistants, Sage is emotionally intelligent, adjusting its tone and approach based on a patient's emotional state and mental health needs, ensuring high levels of engagement and behavior change. For decades, phone conversations with clinicians have been essential to delivering between-visit care—supporting triage, care coordination, disease, and case management, and improving outcomes and costs for payers and health systems. Clinical staff assess physical, mental, and social needs, guide treatment adherence, coordinate care, and provide emotional support. However, staffing shortages, burnout, and increasing patient and system complexity have made it harder to scale these programs and achieve meaningful results. Sage redefines care management by handling these critical yet time-intensive tasks. "Sage derives the clinical understanding from our experience developing vocal biomarkers in case management conversations and builds an empathetic, longitudinal care journey by leveraging Salesforce's Health Cloud with its clinical partners, which meets the needs of high-risk, high-cost members," said Mainul Mondal , CEO and Founder of Ellipsis Health. "Sage alleviates staffing shortages, rising costs, and increasing patient needs by linking with the Salesforce Health Cloud workflow engine to seamlessly integrate into existing clinical operations, delivering measurable improvements in healthcare operations and patient outcomes." Scaling impact and expanding reach With this funding, Ellipsis Health will seek to accelerate Sage's adoption across healthcare providers, payers, and care management organizations. The company will also look to continue to expand its AI capabilities, enhance clinical integrations, and drive forward its mission of delivering empathetic, AI-driven healthcare at scale. "We've spent years developing the world's most emotionally intelligent AI Care Manager," added Mondal. "It is critical to understand that care management is not just about collecting information and performing tasks for the patient, but also listening to them, being supportive as they move through their care journey and understanding what are the most important priorities to them." "This funding validates our approach and enables us to continue scaling Sage to ensure every patient receives high-quality, compassionate care—at the right time and in the right way." About Ellipsis Health Ellipsis Health is an AI healthcare company transforming care management through an emotionally intelligent AI voice agent. Powered by its patented Empathy Engine, the company's AI Care Manager, Sage, expands provider capacity, streamlines workflows, and elevates patient engagement, allowing clinical staff to operate at the top of their license. Ellipsis Health is trusted by top-tier healthcare organizations, including leading providers and payers, to deliver AI solutions proficient at handling patients with complex physical, behavioral and social needs that drive the majority of healthcare costs. For more information, visit www.ellipsishealth.com View original content to download multimedia: https://www.prnewswire.com/news-releases/ellipsis-health-unveils-sage-the-emotionally-intelligent-ai-care-manager-backed-by-45m-from-salesforce-khosla-ventures-and-cvs-ventures-302479581.html SOURCE Ellipsis Health

CVS Health Ventures Investments

34 Investments

CVS Health Ventures has made 34 investments. Their latest investment was in Ellipsis Health as part of their Series A - II on June 12, 2025.

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CVS Health Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/12/2025

Series A - II

Ellipsis Health

$19M

Yes

2

5/8/2025

Series A

Kouper Health

$10M

Yes

25Madison, General Catalyst, and Undisclosed Angel Investors

2

2/17/2025

Series D

Abridge

$250M

No

4

2/6/2025

Series A

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$XXM

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10

11/1/2024

Series A

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$XXM

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10

Date

6/12/2025

5/8/2025

2/17/2025

2/6/2025

11/1/2024

Round

Series A - II

Series A

Series D

Series A

Series A

Company

Ellipsis Health

Kouper Health

Abridge

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Amount

$19M

$10M

$250M

$XXM

$XXM

New?

Yes

Yes

No

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Co-Investors

25Madison, General Catalyst, and Undisclosed Angel Investors

Sources

2

2

4

10

10

CVS Health Ventures Portfolio Exits

1 Portfolio Exit

CVS Health Ventures has 1 portfolio exit. Their latest portfolio exit was Vita Health on June 04, 2025.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/4/2025

Acquired

$XXM

2

Date

6/4/2025

Exit

Acquired

Companies

Valuation

$XXM

Acquirer

Sources

2

CVS Health Ventures Team

231 Team Members

CVS Health Ventures has 231 team members, including current Founder, Managing Partner, Vijay Jun Patel.

Name

Work History

Title

Status

Vijay Jun Patel

H.I.G. Growth Partners, Nike, Daktari Diagnostics, CVS Health, Bain Capital, Oliver Wyman, and Sankaty Advisors

Founder, Managing Partner

Current

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Name

Vijay Jun Patel

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Work History

H.I.G. Growth Partners, Nike, Daktari Diagnostics, CVS Health, Bain Capital, Oliver Wyman, and Sankaty Advisors

Title

Founder, Managing Partner

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Status

Current

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