Aledade, a US-based healthcare management software developer backed by internet and technology conglomerate Alphabet, raised $10m in an extension on Friday to close its latest round at approximately $56.2m.
The company has not disclosed the investors in the final tranche, which followed a $23m commitment led by venture capital firm Meritech Capital Partners in October 2018 and an initial $23m in late 2017 featuring Venrock and Biomatics Capital.
Founded in 2014, Aledade partners practices, health centers and clinics to build and manage accountable care organisations (ACOs), which aim to reduce the overall costs of running an independent practice while improving the care of patients.
The company provides physicians with services such as regulatory expertise, data and analytic tools, business transformation services and upfront capital.
Biomatics Capital led the company’s $20m series B round in January 2017, investing alongside GV, one of the corporate venturing units of Alphabet, Maryland Venture Fund, Venrock and Arch Venture Partners.
Aledade had previously raised $30m in a 2015 series B round that was led by Arch Venture Partners and included Venrock, which had initially backed a $4.5m series A closed in 2014.
Utimco, the investment management arm of University of Texas, and an affiliate of investment holding firm Henry Crown & Company are also existing investors, according to the Washington Business Journal, though it is unclear when either purchased shares.