AbilTo, a US-based provider of therapeutic programmes aiding behaviour change, has closed $6m in financing in a series B round co-led by BlueCross BlueShield Venture Partners, the corporate venturing fund launched by health insurance group Blue Cross and Blue Shield Association.
Sandbox Industries, the venture capital firm that manages a VC fund for BlueCross BlueShield, co-led the round, which also featured VC firm .406 Ventures, which led AbilTo’s $3m series A round in May 2013. Founded in 2008, AbilTo runs programmes that help people overcome emotional issues caused by major medical or life events, which in turn reduces healthcare costs for employers and insurers.
“Over the past year, health plans have increasingly recognized AbilTo’s success identifying, engaging and delivering behavioural interventions that measurably improve a patient’s health while materially reducing the cost of care,” said AbilTo chief executive Michael Laskoff. “This has created exciting new opportunities, which the additional capital will allow us to pursue. Stay tuned for some exciting announcements over the coming months.”