Zaffre Investments, an investment vehicle for health insurer Blue Cross Blue Shield of Massachusetts, participated in an $18m series B1 round for nutrition management technology provider Zipongo on Monday.
The round, which was led by venture capital firm Seventure Partners with a $9m investment, included VC firm Mayfield and increased Zipongo’s overall funding to more than $50m.
Founded in 2011, Zipongo has created a platform called FoodScripts that helps sufferers of chronic diseases improve their nutrition by providing information that assists them in making healthy choices when it comes to buying, cooking or ordering food in restaurants.
The technology is supplied to patients through partnerships with employers, healthcare providers and health insurance firms. The funds will support an expansion of the platform from wellness to functioning as part of a treatment plan for specific diseases.
Tuoyo Louis, chief operating officer of Zaffre Investments, said: “We see a huge market for solutions like Zipongo FoodScripts that reduce reliance on medications by using food as a first-line therapy for chronic health conditions.
“Zipongo has a proven track record of improving how people eat, along with deep expertise in nutrition and technology and a unique vision for the future. We are excited to help their growth.”
Mayfield had previously led the company’s $18m series B round in November 2016, participating alongside investors including Excel Venture Management. In addition to Excel, Zipongo’s earlier backers include Rock Health and Great Oaks Venture Capital.