Good news, Everyone: Koda Health has oversubscribed a $7 million Series A funding round, led by Evidenced, with participation from Mudita Venture Partners, Techstars, and Texas Medical Center.

This new capital will accelerate our efforts to transform how serious illness care is delivered nationwide, ensuring patient voices guide care in the moments that matter most.

"Koda is addressing one of healthcare's most urgent and overlooked challenges, making sure patients' voices guide care in the moments that matter most. This funding allows us to create more goals-of-care product lines, expand our national footprint, and bring goal concordant care to millions more patients and families."

 — Tatiana Fofanova, PhD, Co-Founder and CEO of Koda Health

Serious illness care is one of the costliest and most fragmented areas of U.S. healthcare, with more than $200 billion wasted each year on unwanted or inappropriate interventions. Too often, patients face critical decisions without adequate support or advocacy, leading to treatments that conflict with their goals, place strain on families, and drive unsustainable costs.

Koda Health closes this gap with an EMR-integrated patient decision support platform that enables education, informed decision-making, and documentation. After asynchronously aligning on treatment decisions through the platform, patients can generate legally valid instructions and forms—such as Advance Directives, DNRs, and Medical Power of Attorney documents—that can be virtually notarized and securely shared, all within the platform.

With one in four healthcare dollars spent in the last year of life, alignment through Koda reduces costs by more than 40%—representing billions in potential savings nationwide.

Evidence is the ultimate validation: real impact at scale

In healthcare, the strongest proof of innovation is what happens in practice. A quarter of all Medicare spending occurs in the final year of life, with billions directed toward care that patients often never would have chosen. This misalignment stems not from intent, but from a lack of tools and processes that allow people to plan ahead and ensure their values are honored.

Koda Health was created to change that. By giving patients and families an intuitive, accessible way to clarify their preferences and by embedding those choices directly into clinical workflows, Koda ensures decisions are aligned, supported, and actionable.

Our partnership with Houston Methodist Coordinated Care demonstrates what this looks like at scale. In a year-long study, Koda's platform delivered measurable clinical and financial outcomes:

• 79% reduction in terminal hospitalizations
• 20% decrease in inpatient length of stay
• 51% increase in hospice use
• Nearly $9,000 in average savings per patient, equating to a 42% reduction in total cost of care

When patients are better supported, they make more informed choices and care aligns more closely with their needs. That alignment not only improves lives – it reduces waste and creates resilient health systems.

And the validation extends beyond outcomes. With an industry-leading Net Promoter Score of 87, patients and families consistently affirm that Koda brings clarity, confidence, and peace of mind to some of the most complex decisions in healthcare.

Backed by visionary investors, propelled by policy tailwinds

Our Series A marks a powerful endorsement from some of the most trusted voices in healthcare and venture capital. The round was led by Evidenced, founded by the former Chief Technology Officer of the U.S. Department of Health and Human Services and a serial digital health entrepreneur with multiple successful exits. Evidenced is known for backing companies positioned to thrive at the intersection of technology, policy, and market momentum, and its decision to lead this round underscores the scale of opportunity ahead for Koda.

They are joined by Mudita Venture Partners, Techstars, UPMC, and Texas Medical Center—venture capital firms and health systems with a proven track record of identifying transformative health tech companies before the market fully recognizes their value. Together, this group brings unmatched expertise in scaling healthcare innovation to national leaders.

What makes this moment especially powerful are the regulatory and commercial tailwinds accelerating Koda's model. Federal reimbursement for advance care planning continues to expand, while value-based care contracts increasingly reward providers for reducing preventable hospitalizations and aligning treatment with patient goals. This alignment between policy, payer incentives, and patient demand creates fertile ground for Koda to become an essential part of U.S. healthcare infrastructure.

As our investors put it:

"Koda is the only company combining technology and service to deliver comprehensive solutions that help health plans, providers, and health systems scale goals-aligned care. With satisfied customers expanding their partnerships and policy shifts reinforcing the need for patient-centered care that also contains costs, we couldn't be more excited to support the Koda team and their vision"

 — Sean Glass, Managing Partner, Evidenced

"Koda Health is tackling one of healthcare's most entrenched inefficiencies, and there could not be a better team or a better moment to do it. Their unique blend of clinical expertise and scalable technology positions them to lead as care models evolve."

 — Alan Ying, Operating Partner, Mudita Venture Partners

Trusted by the nation's leading health systems and payers

Koda's impact is already reaching more than a million patients nationwide. Our platform is embedded in some of the most forward-thinking health systems and payers: including Cigna, Privia, Memorial Hermann, Guidehealth, Blue Cross Blue Shield South Carolina, and Medical Home Network  — organizations that together shape care delivery for millions of lives across the country.

It's a shared recognition, which unites these partners: that the future of healthcare depends on giving patients a voice, and making those voices actionable at scale. For payers, that means reducing waste and meeting the demands of value-based contracts. For health systems, it means alleviating avoidable strain on clinicians and resources. And for patients and families, it means greater clarity, confidence, and equity in the care they receive.

"Too often, patients only find their voice when it's already too late. Partnering with Koda Health equips our patients with the tools and support to take ownership of their care journeys long before a crisis – raising the bar for what dignity and equity in healthcare should look like. ACP should be core to the toolset of every value-based care organization."

 — Dr. Henish Bhansali, Chief Medical Officer, Medical Home Network and Board Member of the National Association of ACOs

"As physicians, we often face the challenge of initiating tough conversations around advance care planning with our patients. While 92% of Americans believe these conversations are important, only 32% have had them. Koda Health bridges this gap by making these discussions easier, empowering patients to define their preferences and enabling us to deliver the care they truly want while honoring their wishes. It's a transformative step toward compassionate, patient-centered care."

 — Dr. Keith Fernandez, EVP Chief Clinical Officer, Privia Health

By enabling trusted organizations like these to seamlessly embed patient preferences into everyday workflows, Koda is becoming a core layer of healthcare infrastructure  — where patient dignity, system efficiency, and financial sustainability meet.

Looking ahead

Koda is redefining what planning for serious illness looks like. Traditional advance care planning was often a one-time, paper-based task. We're transforming it into a dynamic, condition-specific dialogue that equips individuals, families, and providers to make the right decisions, in the right way, at the right time.

For someone with kidney disease, that might mean weighing dialysis options in the context of daily quality of life. For a patient with cancer, it could involve balancing aggressive treatments against fertility considerations. By creating tailored planning pathways – such as our Kidney Action Planning program – Koda makes these conversations proactive, precise, and personal.

The impact goes beyond patient experience. By embedding patient values directly into workflows, we reduce unnecessary interventions, lighten the emotional and logistical burden on families, and enable providers to deliver care that is goal-concordant, equitable, and sustainable.

As Desh Mohan, MD, Chief Medical Officer of Koda Health, explains:

"Patients long for clarity, families deserve peace of mind, and providers demand ease of use. At Koda, we make it possible to deliver all three – transforming advance care planning into a compassionate, ongoing dialogue that honors patients and supports families every step of the way."

And this is just the beginning. With new funding in hand, we're expanding condition-specific solutions, growing our team across engineering, clinical strategy, and customer success, and building the infrastructure required to deliver serious illness planning at true population scale.

We are actively hiring across the board – check out our open roles. And if you're a health system or payer leader looking to bring patient-centered planning into your organization, we'd love to talk. Get in touch with our team.