US-based disease prevention platform developr Solera Health has collected $42m in a series C round led by HCSC Ventures, the corporate venturing unit owned by insurance provider Health Care Service Corporation (HCSC).
Blue Cross Blue Shield Venture Partners, the strategic investment arm of health insurer Blue Cross and Blue Shield Association, also participated in the round, as did Sandbox Industries, Adams Street Partners and SJF Ventures.
Founded in 2015, Solera has created a platform that matches doctors, patients and physicians with community organisations and digital chronic disease prevention schemes for conditions such as diabetes management, stress, tobacco cessation and weight management.
The series C funding will enable Solera to expand into behavioural health and social determinants of health (SDOH), including programs focusing on food insecurity and social isolation. It recently partnered Blue Cross Blue Shield Institute to launch a SDOH-based initiative nationwide.
Sahil Choudhry, assistant vice-president of corporate development and venture investments at HCSC Ventures, has joined Solera’s board of directors in connection with the round. It increased the company’s overall funding to $72m, it said.
Adams Street Partners led a $18.3m series B round for the company in July 2017, investing alongside Blue Cross Blue Shield Venture Partners, SJF Ventures and Sandbox Industries. A regulatory filing revealed the company had raised another $5m in funding six months earlier.
BlueCross BlueShield Venture Partners, Sandbox Industries and SJF Ventures also backed Solera’s $4m series A1 round in 2016, which added to the $3m in series A funding Blue Cross BlueShield and Sandbox had invested the previous year.
Sahil Choudhry said: “Solera Health’s mission of improving people’s health by connecting them with a network of health care solutions is something that truly resonates with us.
“The company’s innovative network model has already helped millions of individuals change their habits and reduce their risk of developing chronic disease.”