Ra­jaie Bat­ni­ji, Waymark cofounder and CEO

Med­ic­aid start­up Way­mark rais­es $42M in a round led by Lux Cap­i­tal

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Way­mark, a start­up that helps health plans and providers care for peo­ple on Med­ic­aid plans when they’re not at the doc­tor’s of­fice, just raised $42 mil­lion.

Lux Cap­i­tal, which had pre­vi­ous­ly backed Way­mark’s Se­ries A, led the un­named round. CVS Ven­tures, CVS Health’s ven­ture arm, joined as a new in­vestor along­side ex­ist­ing in­vestors An­dreessen Horowitz and New En­ter­prise As­so­ciates. The round in­clud­ed a $22 mil­lion eq­ui­ty in­vest­ment and $20 mil­lion in debt. In to­tal, the com­pa­ny has raised $87 mil­lion.

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