US-based kidney care provider Cricket Health has closed a $24m series A round backed by healthcare services company Cigna.
The round was led by growth equity fund Oak HC/FT and also featured LifeForce Capital, iSeed Ventures, Liquid 2 Ventures, First Round Capital, Box Group, Nexus Ventures, Seven Peaks Ventures, Aberdare Management and assorted angel investors.
Founded in 2015, Cricket offers integrated nephrology and dialysis care for patients suffering from chronic kidney disease or end-stage renal disease. It identifies high-risk patients and offers remote, in-person and at-home care to avoid kidney failure for as long as possible.
Patients are educated about their condition and are provided with round-the-clock access to peer and clinical support and the option to undergo dialysis either at home or in a dedicated clinic.
The company will use the series A capital to expand its offering and clinical footprint. It will focus on the development of care management for end-stage renal disease patients and the creation of new home and in-centre dialysis programs.
Cricket raised $1.1m in funding in 2016, according to a regulatory filing, and First Round, Box Group, Nexus Ventures, Seven Peaks, Aberdare Management and private investor Jeff Weiner were identified as returning investors.
Arvind Rajan, chief executive of Cricket Health, said: “Kidney care in our country is broken: patients too often end up on very costly, life-altering, in-centre dialysis because upside-down incentives put them there.
“Our mission at Cricket is to reduce the burden of kidney disease and put patients back in control of their lives with care that is cost-effective, keeps them healthy, and gives them hope for the future. This funding will help us provide better care to millions of Americans facing kidney disease.”