US-based healthcare software developer Socially Determined has completed an $11.1m series A round featuring corporates 3M, CareFirst BlueCross BlueShield, Lafayette General Health, OSF Healthcare and ProMedica.
Health insurance provider CareFirst BlueCross BlueShield took part through investment vehicle Healthworx while manufacturing group 3M and healthcare providers Lafayette General Health, OSF and ProMedica invested directly.
The corporates were joined by Ziegler Link-Age Funds, the partnership between investment firms Link-Age and Ziegler, in addition to venture capital platform LRVHealth and undisclosed returning backers.
Socially Determined has created an analytics platform, SocialScape, that aggregates social factors such as housing and transportation reports with clinical and claims data to generate insights on social influences on health that businesses can leverage to improve medical intervention and economic health outcomes.
The funding will go toward recruitment efforts as the company looks to expand its sales and marketing teams and improve the SocialScape platform. 3M, LRVHealth, OSF Healthcare, ProMedica and Ziegler Link-Age Funds had provided $7.3m for the first close of the round in October 2019.