US-based disease prevention technology developer Solera Health received $18.3m on Wednesday in a series B round featuring Blue Cross Blue Shield Venture Partners, the strategic investment arm of health insurer Blue Cross and Blue Shield Association.
Investment firm Adams Street Partners led the round, which included social impact fund SJF Ventures and Sandbox Industries, the VC firm that provides investment management services for Blue Cross Blue Shield Venture Partners.
Solera operates a platform that seeks to help prevent chronic diseases by integrating services provided by physicians, community organisations and digital therapeutics providers into a single platform, in a bid to increase participation by patients and health insurance plan members.
Brenda Schmidt, chief executive of Solera Health, said: “Solera Health has created the preventive care benefits manager category and for the first time is now enabling non-clinical providers to be integrated into healthcare.
“This investment allows us to further scale our model to positively impact the enormous health and financial burdens of chronic disease.”
The round increased Solera’s overall funding to $30.3m and came after a regulatory filing in January this year indicated it had raised $5m in funding.
BlueCross BlueShield Venture Partners and Sandbox had initially provided $3m in series A funding for the company in late-2015 before adding $4m in a June 2016 series A1 round that included SJF Ventures.