Funding profile · Specialty pharmacy services

Float Health

One Series A, one Form D, and nothing filed since. The paperwork shows a round that closed nearly nine months before anyone announced it, and a board seated before the press release.

$9.99MSold of $9,999,998 offered, Form D filed Aug 1, 2023
10Investors in the offering, about $999,099 each
$15MTotal raised, company-reported and repeated in the press
0Form D filings since Aug 2023, as of Sept 2026

Data as of September 22, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
Aug 2021 Launch, San Diego Not disclosed Not disclosed Company
Winter 2022 Y Combinator batch Not disclosed Y Combinator YC data
Before 2023 Pre-Series A capital About $5M implied Not disclosed No filing found
Jun 2023 to Aug 2023 Series A, equity, Rule 506(b) $9,990,994 sold of $9,999,998 10 investors Form D
Mar 2024 Series A announced $10M Canvas Ventures (lead), Wave Capital, Y Combinator, Burst Capital, Also Capital, plus angels Company release
Federal grants None $0 No NIH, NSF or SBIR award found Not found

What the filings show

Float Health Inc. · Form D · filed Aug 1, 2023

First sale
June 30, 2023
Offered
$9,999,998 equity
Sold
$9,990,994 · $9,004 remaining
Investors
10 · average about $999,099
Minimum
$9,999 from any outside investor
Exemption
Rule 506(b) · no non-accredited investors
Issuer
Delaware corporation, incorporated 2021 · industry given as Other Health Care · revenue range: decline to disclose
Related persons
Ryan Johnson (executive officer, director); Christy Johnson (executive officer, director); Lauren Sullivan (executive officer, director); Sara Adler (director); Mike Ghaffary (director)
Sales compensation
None · finders fees $0 · $0 of proceeds to officers or directors
Filing
SEC EDGAR, CIK 0001987169, Sacramento, CA address

Reading the filings

  1. The round was done in June 2023 and announced in March 2024.First sale was June 30, 2023. The Form D landed on August 1, 2023, within the fifteen day window. The press release went out on March 28, 2024, nearly nine months later. Float’s own nurse job posting from that period says it had just closed its Series A in 2023, so the delay was in the announcement, not the money.
  2. Ten checks, about a million each.$9,990,994 divided by 10 investors is about $999,099. The release names five firms and five individual angels, which fits ten slots exactly. The $9,999 minimum from any outside investor suggests smaller allocations were contemplated and not used.
  3. The offering was 99.9 percent taken up.$9,004 of $9,999,998 was left. An offering sized one dollar short of $10 million, filled to within nine thousand dollars, reads as a round that was allocated before it was filed rather than marketed after.
  4. About $5 million of the reported total has no Form D.Company and press both put total funding at $15 million. Only $9.99 million is on file, and this is the first filing under Float’s CIK. Money raised under Section 4(a)(2) or through SAFEs that were not noticed on Form D would not appear, so the gap does not imply anything is missing from the record.
  5. The board was seated before the announcement.Mike Ghaffary and Sara Adler are listed as directors in the August 2023 filing. The March 2024 release describes Ghaffary joining the board as part of the round, as a Canvas Ventures general partner. TechCrunch reported in February 2025 that he left Canvas for Burst Capital, which also invested. No public record shows whether the seat moved with him.
  6. A third officer who is no longer visible.Lauren Sullivan appears in the Form D as an executive officer and director alongside the two founders. She is not named on the company’s current team page or in any press release found for this profile.
  7. Nothing has been filed for three years.No amendment, no Series B, no SPV naming Float. For a company that says it has grown visit volume more than fivefold since the round, the absence of a new notice is the most informative fact on this page.

Commercial signals

Signal Detail Source type
Customers More than 100 specialty pharmacy partnerships, including Optum, CVS, Option Care, Alliance RX (Walgreens), Kroger, Kabafusion, Soleo Health, NuFactor and CA Specialty Pharmacy. No pharmacy has confirmed in public. Company-stated
Volume 19,000 visits at the Series A (Mar 2024), 45,000 plus (Mar 2025), 55,000 plus (Jun 2025), 86,000 plus on the website, and a post marking the 100,000th visit. Company-stated
Unit economics Nurses are 1099 contractors paid per visit, $50 to $100 an hour on the job posting and $70 to $105 in California per the FAQ, with no pay for drive time. Float bills the pharmacy, which bills the payer. Company-stated
Footprint Ten states listed: AZ, CA, GA, IN, MI, NV, OH, PA, TX, WA. Florida, promised for the second quarter of 2025, is still shown as coming. Behind plan
Compliance SOC 2 Type 2 announced Nov 2025. Electronic visit verification built into the nurse app, against the Cures Act section 12006 requirement that runs through state Medicaid programs. Public record
Headcount LinkedIn lists 11 to 50 employees. Y Combinator lists a team size of 3. The company is remote-first. Records disagree

What to watch

  • A Form D for any new round. It is due within fifteen days of first sale, and the last one came nearly nine months before the round was made public.
  • Whether Ghaffary’s board seat followed him from Canvas Ventures to Burst Capital.
  • Any disclosure of revenue, take rate per visit, or gross margin. None exists today.
  • Florida, and whether the ten-state footprint grows toward the stated goal of twenty-five.

The Float Health story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Pine Park Health: Shared investor: Canvas Ventures. A primary care practice that puts clinicians inside senior living communities instead of asking residents to travel out
  • Alfie: Shared investor: Coo Fund. A New York telehealth clinic that used an AI model called ObesityRx to match patients with weight loss medications and behavior changes
  • Collectly: Shared investor: Burst Capital. A patient billing platform that sits between the electronic health record and the patient’s phone
  • CareRev: Similar focus. A per diem shift marketplace that let hospitals book local nurses by the day

Sources

  1. Public recordForm D, Float Health Inc., CIK 0001987169SEC · Aug 1, 2023
  2. Public recordEDGAR submissions index, CIK 0001987169SEC · Sep 23, 2026
  3. Public recordElectronic Visit Verification, Cures Act section 12006Medicaid.gov
  4. IndependentExclusive: Nurse staffing marketplace Float raises $10M Series AAxios Pro · Mar 28, 2024
  5. IndependentHome-Based Care Staffing Startup Float Health Raises $10 MillionHome Health Care News · Mar 28, 2024
  6. IndependentFloat hits $15M in fundingHME News · Apr 15, 2024
  7. IndependentFloat receives $10 million for on-demand home infusion nursesStaffing Industry Analysts · Apr 10, 2024
  8. IndependentVC Mike Ghaffary leaves Canvas for Burst CapitalTechCrunch · Feb 7, 2025
  9. InvestorCanvas Ventures portfolio pageCanvas Ventures · 2026
  10. CompanyFloat Raises $10 Million Series AFloat Health, PRWeb · Mar 28, 2024
  11. Company45K+ Home Visits Completed, 100+ PartnershipsFloat Health · Mar 27, 2025
  12. CompanyFloat Health Achieves SOC 2Float Health · Nov 21, 2025
  13. CompanyHome Infusion Registered Nurse posting and FAQfloathealth.com · Sep 2026
  14. CompanyFloat Health company page and postsLinkedIn · Sep 2026

Compiled from SEC and other public records and published reports as of September 22, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in Float Health. This page is not an offer to sell or a recommendation to buy any security.