Neko Health raises $700m Series C at $5.9bn valuation
Preventive health-tech startup Neko Health has secured a $700m Series C round, pushing its valuation to $5.9bn as it reaches 100,000 members and clinic-level profitability.
Neko Health has closed a $700m Series C funding round, valuing the Stockholm-based preventive healthcare company at $5.9bn. The round was led by General Catalyst, Lightspeed and IA, with continued participation from existing backers including Spotify founder Daniel Ek.
The capital injection marks a notable milestone for the European tech sector. Neko now serves 100,000 members and has reached profitability at the individual clinic level. CEO Hjalmar Nilsonne cited this operational leverage as a key validation of the company’s model, distinguishing it from other venture-backed healthcare startups that often scale at a steep loss.
Neko operates clinics that utilize proprietary technology to conduct comprehensive body scans, including EKGs, ultrasounds and blood tests, aimed at the early detection of disease. The company is positioning itself within a growing preventive healthcare market, competing with diagnostic firms like Prenuvo. Nilsonne framed Neko’s approach as a structural necessity rather than a luxury add-on. “If you can’t get this done in Europe, the healthcare system doesn’t work, and I don’t think anyone should accept that,” he said.
Despite the scale of the new funding, Neko is resisting the pressure to immediately deploy capital into rapid international expansion. While the United States is firmly on the company’s strategic horizon, Nilsonne said Neko must first solidify its footprint in its home market. “If we can do this right in Europe, it’s going to be a massive proof point, and then we can build from there,” he said. “But we need to make sure we have the right setup, so we don’t have to rush into a new market just because we raised a lot of capital.”
Regarding public markets, Neko has not set a timeline for an initial public offering. Nilsonne indicated that the private markets currently provide the optimal conditions for the company's next phase of growth. “It is a new way of thinking about early detection of disease,” Nilsonne said. For now, the company is maintaining a strict focus on unit economics rather than overall corporate profitability. “Profitability is not something we chase at a corporate level, but at a clinic’s level,” Nilsonne said.
