US-based healthcare management software provider Valence Health has raised $15m in growth funding from investors including GE Ventures, the corporate venturing arm of industrial conglomerate General Electric.
The round was led by healthcare-oriented venture capital firm Heritage Group, and also included VC firms Foundation Medical Partners and North Bridge Growth Equity. North Bridge Growth Equity led a $30m round for Valence in 2012.
Valence’s revenue has grown by 51% over the past 12 months, with 150 new staff added. It plans to move to new headquarters in Chicago by the end of 2014, and to hire a further 500 staff over the next five years.
Rock Morphis, managing director at Heritage Group, said: “Valence Health is unique among organisations assisting healthcare providers in implementing and managing various forms of value-based care.
“They have been helping providers with clinical integration, risk-arrangements and provider-sponsored plans for nearly two decades. We were attracted to Valence Health because of its proven experience, deep expertise, and mission-driven orientation to help providers.”