US-based health insurance client management software developer Zipari yesterday secured $22.5m in a series B round featuring health insurers Horizon Healthcare Services and CareFirst BlueCross BlueShield.
The round was led by venture capital firm Vertical Venture Partners and also included health software-focused investment partnership Health Velocity Capital.
CareFirst BlueCross BlueShield invested through Healthworx, its strategic investment and innovation unit.
Founded in 2014, Zipari provides health insurance firms with digital products that help them engage customers through tools such as self-service claims, employer billing and a directory of health professionals.
The series B cash will help beef up the product range and build out Zipari’s distribution framework through partnerships and other measures.
Vertical Venture Partners supplied Zipari with initial funding of undisclosed size in 2014, before returning to lead its $7m series A round in 2016.
Zipari subsequently raised $4m of a targeted $5m equity round from unnamed investors in 2017, according to a regulatory filing.