US-based healthcare provider Cityblock Health has secured $53.5m in a series B-plus round featuring internet and technology conglomerate Alphabet and health insurance provider EmblemHealth.
The round was led by investment firm Kinnevik and included Echo Health Ventures, which is backed by care provider Cambia Health Solutions, in addition to investment bank Goldman Sachs’ Asset Management division, Maverick Ventures, Redpoint Ventures, Town Hall Ventures, Thrive Capital and 8VC.
Founded by Alphabet subsidiary Sidewalk Labs in 2017, Cityblock uses technology to facilitate healthcare provision in the US states of New York, Connecticut and Massachusetts in partnership with local community organisations.
Care is provided through neighbourhood hubs and patients can engage with care providers through a communication software platform the company has created called Commons.
Cityblock said in a blog post announcing the round: “This investment demonstrates conviction in the potential of integrated, value-based care to fundamentally transform health across the nation.
“It will help us continue to deliver strong clinical programs for our members, further develop our technology capabilities, including Commons and our virtual-first service modalities, as well as begin to serve new communities we serve.”
Sidewalk Labs joined Maverick Ventures, Thrive Capital and unnamed angel and strategic investors to provide $20.8m in series A funding for the company in early 2018.
Cityblock added $65m in an April 2019 series B round led by Redpoint Ventures and backed by the series A investors as well as EmblemHealth, Echo Health Ventures, 8VC, Town Hall Ventures and StartUp Health.
