Aledade, a US-based healthcare management software provider backed by internet and technology conglomerate Alphabet, has received $23m in funding, Washington Business Journal has reported.
Venture capital firm Meritech Capital Partners supplied $15m of the funding, which doubled the size of the company’s latest round to $46m. It closed the first $23m in December 2017 having secured the money from investors including Venrock and Biomatics Capital.
Aledade forms partnerships with physicians who can then form accountable care organisations (ACOs) that can share resources to cut costs, at the same time utilising Aledade’s data analytics technology.
The company runs ACOs in 18 US states and has partnerships in place with more than 300 healthcare practices.
The round took Aledade’s funding to approximately $100m since it was founded in 2014, $20m of which came in a January 2017 series B round led by Biomatics Capital that included Alphabet subsidiary GV, Maryland Venture Fund, Venrock and Arch Venture Partners.
The 2017 round followed a $30m series B round in 2015 that was led by Arch Venture Partners and backed by Venrock, which had supplied the $4.5m Aledade raised for its 2014 series A round.
Aledade’s other existing investors include Utimco, the University of Texas’ investment manager, and an affiliate of investment holding company Henry Crown & Company, according to Washington Business Journal.
