Solera Health, a Phoenix, AZ-based preventive care benefits platform, has nabbed USD42 million in Series C funding round which will enable the company to scale integrated benefit network for chronic disease prevention. The funding round was led by HCSC Ventures, along with current investors BlueCross BlueShield Venture Partners/Sandbox Advantage Fund, Adams Street Partners and SJF Ventures. With this funding, the company’s total funding has reached USD72 million so far.
Solera Health, which was founded in the year 2015, serves as an integrated benefit network which connects patients, payers, and physicians with community organizations and digital therapeutics providers with simple and secure manner. The company also assists combine highly segmented programs and services into a single marketplace and empowering health plans and caregivers to boost consumer participation while lessening associated costs. Solera Health’s network, over the past 1-year, has evolved as a supporting character into a wider range of lifestyle modification programs, such as diabetes management, anxiety, hypertension, sleep, tobacco cessation, and weight management. Recently, the company had established a strategic partnership with Blue Cross Blue Shield Institute for a nationwide program to address SDOH at the community level.
With this collaboration, health plans have access to document health improvement and cost savings through Solera’s curated network of providers and payment infrastructure to tackle SDOH in a sustainable and scalable method. As part of the latest funding round, the will utilize this fresh capital to scale beyond its proven payment innovation model for chronic disease prevention and management to address behavioral health and social determinants of health (SDoH) including food insecurity, medically tailored meals, transportation falls prevention and social isolation, as reports noted.