Included Health is a healthcare platform that combines virtual and in-person care, navigation, and support services for members and employers. It was formed through the 2021 merger of Grand Rounds and Doctor on Demand and is led by CEO Owen Tripp.[1][2]
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$1.1B
Series D, Oct 2021, Perplexity
UpMarket Estimate
$982M
Based on UpMarket valuation model
Previous Price
$1.1B
Series C Sep 2021
How to Invest in Included Health Through UpMarket
Included Health shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Included Health offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
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Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Oct 2021
Series D
$1.1B
Sep 2021
Series C
$1.1B
Jan 2021
Series B
$1.1B
Jun 2019
Series A
Why Investors Are Watching Included Health
Growth Signal
Included Health has raised $1.13B across 7 funding rounds
Forge Global says Included Health has raised $1.13B in total funding across 7 rounds, with its latest disclosed round a Series E on Sep. 9, 2020. The company is positioned as an integrated healthcare provider spanning in-person and virtual care.
Competitive Moat
Employer partnerships anchor Included Health’s care platform
Sofina describes Included Health as a diversified healthcare platform that partners with employers across the US to provide care for employees and their families. That employer-distribution model can create embedded relationships and recurring access to covered lives.
Market Opportunity
Digital health funding rebounded to $14.2B in 2025
Rock Health reports U.S. digital health startups raised $14.2B in 2025, up 35% from $10.5B in 2024 and the highest level since 2022. The largest funding flows went to clinical and non-clinical workflow companies, which captured 39% of total dollars.
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No. As of March 2026, Included Health is a private company and does not trade on any public stock exchange. Accredited investors can access Included Health shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Included Health does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Included Health shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.
Pre-IPO investments carry significant risks. Included Health shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Included Health operates a virtual-first healthcare platform spanning care navigation, telehealth, behavioral health, and in-person referrals, valued at $982M after raising $1.13B across 7 funding rounds — accredited investors can access Included Health stock through UpMarket.