Blue Venture Fund, the investment partnership funded by 36 Blue Cross Blue Shield health insurers, co-led a $12m series A round for US-based healthcare engagement platform developer Insightin Health on Wednesday.
The round was co-led by healthcare-focused growth equity fund Blue Heron Capital and also featured Health Catalyst Capital, Revolution’s Rise of the Rest fund and SaaS Ventures.
Insightin Health has built a software platform that allows patients to engage with the healthcare process across each stage of treatment, pooling medical, clinical, cognitive and social data to recommend positive actions.
Binoy Bhansali, Blue Venture Fund’s managing director, said: “We are committed as an organisation to improve the health system, and we feel a solution like Insightin Health takes great strides in getting us there.
“Their ability to leverage data strategically elevates Medicare Advantage and Managed Medicaid Plans’ abilities to improve quality, reduce costs and drive growth and retention by better engaging members.”
The company had previously received $2m in seed financing in 2018 from Revolution Rise of the Rest Seed Fund, SaaS Ventures, Tedco, TCP Ventures and unnamed angel investors.
