McKesson Ventures, the corporate venturing arm of pharmaceuticals distributor McKesson, yesterday returned to co-lead a $50m funding round in US-based healthcare concierge platform Accolade.
The round was co-led by Andreessen Horowitz, Carrick Capital Partners and Madrona Venture Group, with participation from Cross Creek Advisors and Madera Technology Partners.
Founded in 2007 by the principals of investment firm Accretive Health, Accolade operates an on-demand service that combines technologies such as machine learning and big data analytics with human advisors and clinical experts.
The platform provides guidance through health and benefits resources, helping both individuals and employers to identify the best care from a single access point.
The money will enable Accolade to take advantage of new market opportunities, increase its headcount and further expand its platform, which it claims is already used by more than 1.1 million employees and their families in the US today.
Accolade previously obtained $70m in series E funding in 2016 led by Andreessen Horowitz, with contributions from Madrona and unnamed investors. McKesson Ventures and a subsidiary of health insurance provider Independence Health had already supplied $22.5m in 2015.
The company had previously raised a total of approximately $54m in debt and equity financing, according to press releases and securities filings. Its other shareholders include Accretive Health, mass media group Comcast, which first invested in it through its earlier corporate venturing unit Comcast Interactive Capital, and Oak Hill Capital Partners.