Optum Ventures, the strategic investment arm of healthcare services provider Optum, co-led a $64m series C round for US-based kidney care provider Somatus on Tuesday.
Longitude Capital and Deerfield Management co-led the round, which included Blue Venture Fund, the investment vehicle for health insurance group BlueCross BlueShield Association, in addition to Flare Capital and Town Hall Ventures.
Somatus provides vertically integrated care services to patients who are dealing with, or at risk of developing, kidney disease. It is currently active across six US states and is responsible for more than 20,000 patients.
The cash will support further domestic expansion and an increase in headcount, as well as supporting technology and product development.
New products on the slate includes a patient-facing mobile app that monitors users’ condition, tracks transplant progress and connects them with physicians. Somatus said it has now raised more than $105m since it was founded in 2016.
Blue Venture Fund (then known as BlueCross BlueShield Venture Partners) took part in an $11m series B round for the company in April 2018 that was co-led by Flare Capital and included an unnamed innovation firm. It had raised $5m the year before, according to a securities filing.
Ikenna Okezie, co-founder and chief executive of Somatus, said: “Fueled by the tenacity of our team, the trust of our patients, and the support of our partners and investors, we have made great strides in the pursuit of our mission and helped spur needed transformation in the kidney care sector.
“This investment allows us to accelerate those efforts while solidifying ourselves as a preferred partner for health plans and a trusted advocate for patients.”
