Cityblock Health

Cityblock Health delivers primary care, behavioral health and social care to people covered by Medicaid, Medicare or both, many of them with complex medical and social needs. It contracts with managed care plans and takes on financial risk for its members' outcomes and costs. Iyah Romm and Dr. Toyin Ajayi co-founded the company in 2017 with Bay Gross, incubating it inside Sidewalk Labs, the Alphabet-backed urban technology company. Ajayi became CEO in March 2022 after Romm left. The company is based at 495 Flatbush Avenue in Brooklyn.

Cityblock's Form D filings trace its fundraising: $6.1 million and $20.8 million in early 2018, $65.1 million in 2019, $53.3 million in mid-2020, $151.4 million in December 2020, $183.3 million in March 2021 and $374.0 million in September 2021. Kinnevik led the $54 million Series B in July 2020, joined by Goldman Sachs Asset Management's Imprint, Alphabet and existing investors Maverick Ventures, Redpoint Ventures, Town Hall Ventures, Thrive Capital, EmblemHealth, 8VC and Echo Health Ventures. A $160 million Series C in December 2020 valued the company at more than $1 billion, and General Catalyst's Hemant Taneja appears as a director on the Form D filed that month. Tiger Global led a $192 million Series C extension in March 2021. Later that year Cityblock was valued at $5.7 billion, with SoftBank among its backers.

Cityblock is still private. Forbes reported 75,000 members and a run rate of about $400 million in early 2021. In February 2026 the company announced a $116 million Series E led by General Catalyst, along with an all-stock agreement to acquire Homeward Health, a rural Medicare Advantage provider with nearly 50,000 members. Cityblock said it serves almost 200,000 members with annualized revenue of $2.2 billion, up 77 percent year over year, and works with 18 health plan customers. A Form D filed in September 2026 reports $206.2 million sold to 54 investors. Board members added in 2026 include Oscar Health co-founder Mario Schlosser and former Google chief health officer Karen DeSalvo.

Cityblock shows how venture capital entered risk-bearing care delivery, a sector with heavy regulation and thin margins. Seed and growth investors such as Maverick, Thrive and General Catalyst backed the company from its early years, and crossover funds such as Tiger Global and SoftBank followed during the 2021 boom. Five years later the Series E was smaller than the 2021 rounds. Cityblock has not announced a price relative to its 2021 valuation, and liquidity for early backers depends on a future IPO or sale.