Solace, a healthcare navigation platform, introduced it scored $60 million in Sequence B funding.
Menlo Ventures led the spherical with participation from current traders Impressed Capital, Torch Capital and Craft Ventures, and new investor SignalFire.
WHAT IT DOES
Solace matches sufferers with advocates who assist them navigate their healthcare journey, whether or not by navigating a brand new analysis, discovering a physician, coordinating care, or taking management of a persistent sickness.
The advocates are coated by Medicare, most Medicare Benefit plans, and a few medical insurance carriers.
The corporate additionally permits suppliers to refer their sufferers to Solace well being advocates and presents its personal EHR for advocates to replace and entry affected person medical information to assist with the navigation course of.
The California-based firm will use the funds to extend its variety of healthcare advocates nationwide and speed up firm growth.
“The healthcare business is at a tipping level. Payers more and more acknowledge that affected person advocacy is not a assist perform. It is structurally mandatory,” Jeremy Gurewitz, CEO and cofounder of Solace, stated in an announcement. “This funding validates our momentum and the crucial function advocacy performs in reshaping the healthcare panorama.”
MARKET SNAPSHOT
Solace garnered $14 million in Sequence A funding final 12 months, bringing its complete increase to $21 million.
One other firm within the healthcare navigation house is Sharecare, a digital healthcare navigation platform for people, employers, authorities organizations, communities, well being plans and suppliers.
Final 12 months, publicly traded Sharecare entered right into a definitive settlement to be bought by healthcare funding agency Altaris in a $518 million deal, which might see the corporate go non-public.
Different firms within the house embrace Glen Tullman’s firm Transcarent and advantages navigation platform Healthee.
