US-based home care management software provider Contessa Health secured $7m yesterday from investors including health insurer Blue Cross Blue Shield Association and care provider Marshfield Clinic Health System.
Venture capital firm Noro-Moseley Partners led the round, which was also backed by Martin Ventures, Sandbox Advantage Fund and Nashville Capital Network. Blue Cross Blue Shield invested through its corporate venturing arm, BlueCross BlueShield Venture Partners.
Contessa provides home care for conditions that would ordinarily require hospitalisation, with prospective bundled payments being adjudicated using its analytics and claims platform. It will use the funding to expand into new markets.
The company previously raised $3.5m in a December 2015 round featuring BlueCross BlueShield Venture Partners, Sandbox Advantage Fund and Martin Ventures.