July 12, 2017 / in Blog Posts / by admin
Today, we announced our latest round of funding – an $18.3 million Series B round led by Adams Street Partners, alongside existing investors Blue Cross Blue Shield Venture Partners, Sandbox Industries and SJF Ventures.
The support of our investors confirms the value of the model we are pioneering in the healthcare space. Solera has created the preventive care benefits manager category and for the first time, provides an efficient and effective way to connect patients, payers, and physicians to a network of non-medical community and digital providers proven to drive demonstrable results and high satisfaction. The need for our offering is clear — in the two years since we started, the company has grown to over 70 employees and contracted with health plans and employers representing more than 40 million covered lives. With this investment, Solera has the opportunity and responsibility to further scale our model to positively impact the enormous health and financial burdens of chronic disease.
Solera was founded on the vision of transforming the chronic disease prevention and management delivery model by leveraging non-medical providers to keep patients compliant with their care plan between doctor visits. We have executed on that vision by helping community organizations and digital therapeutics providers across the country integrate into the existing healthcare system — creating a network of a new class of providers partnered with traditional care. In doing so, we have given patients access to the personalized lifestyle modification programs that are helping them achieve their health goals to prevent and better manage chronic disease.
Our company’s mission is “changing lives by connecting people to healthcare solutions that work.” What have we learned so far? Behavior change is highly personal and people are more likely to take action to improve their health when it fits into their lifestyle and meets their unique needs and preferences. The opportunity to meet people where they are – in locations where they live, work, play and pray – can drive lasting lifestyle changes and improved health. We are excited to use this funding to continue to invest in our technology and team so we can expand access to critical prevention, coping and support services for those with chronic health conditions.
I am proud of all that Solera has accomplished – and even more optimistic about what we will be achieving in the months ahead.
– Brenda Schmidt, CEO, Solera Health