Norwest Venture Partners, the venture capital firm backed by bank Wells Fargo, today invested $15m in Crossover Health, a US-based provider of on-site healthcare for large companies.
Founded in 2010, Crossover provides on-site healthcare management services for an estimated 40,000 employees working for technology and manufacturing companies.
Crossover, which raised $6.5m in 2010 from undisclosed investors, will use the cash to advance its technology, boosting its health analytics capabilities in the process, and will expand its workforce as it seeks to grow the company and its product offering.
Ryan Harris and Casper de Clercq, both partners at Norwest, will join Crossover’s board in conjunction with the funding.
“We have tracked this area for some time,” Harris said. “Crossover stood out not only for its exceptional approach to care and its impressive client list, but also for how it integrates new digital health technologies into the overall patient care experience.
“We see Crossover as both the leader in creating meaningful primary care relationships and also as an ideal platform for many of the health technology companies in our current portfolio.”