US-based healthcare marketplace Accolade raised $22.5m yesterday from McKesson Ventures, the corporate venturing arm of healthcare IT company McKesson, and health insurance provider Independence Health Group.
Accolade has developed an analytics platform that enables employers and insurers to compare healthcare service providers and benefits. It will use the money to further develop the system.
According to regulatory filings, Accolade secured $16.9m in a 2010 equity round featuring Comcast International Capital, the corporate venturing unit owned by cable service Comcast, and an additional $2.8m in May 2014, as well as $4m in debt financing in 2010.
Private equity firm Carrick Capital Partners provided $30m of equity funding for Accolade in 2013. The company’s other investors include investment firm Accretive and PE firm Oak Hill Capital Partners.
Tom Spann, chief executive of Accolade, said: “It is hugely gratifying to receive this latest round of funding from two innovation-driven companies that know healthcare and know Accolade and the kind of results we deliver.”