Total amount raised
$25.5 Millions
Latest funding date
11/01/2019
Location
Healthify has successfully raised funds through multiple rounds, with the last funding round being a Series B on November 4, 2019. The company has garnered support from a total of 10 investors, including The Blue Venture Fund and SV Health Investors.
Acquired by WellSky on July 29, 2021, Healthify continues to focus on building infrastructure to support social determinants of health initiatives at scale. Keep reading to explore the intricacies of Healthify's fundraising journey and the investors backing this innovative platform.
What Is Healthify?
Founded on September 11, 2013, Healthify operates in the healthcare, mHealth, software, and wellness industries. The company is headquartered in New York, New York, and was established by Alex Villa, Dan Levenson, Eric Conner, James Corines, and Manik Bhat.
Healthify employs between 501 and 1000 people and focuses on building infrastructure to support social determinants of health initiatives. The company manages accountable networks of community-based organizations and provides a technology platform that streamlines the closed-loop referral process, fosters collaboration, and tracks results.
How Much Funding Has Healthify Raised?
- Pre-Seed Round
- Amount Raised: $20K
- Date: September 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their platform and initial operations.
- Seed Round
- Amount Raised: $500K
- Date: May 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their technology and expand their team.
- Seed Round
- Amount Raised: $2.5M
- Date: May 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations and enhance their platform's capabilities.
- Series A
- Amount Raised: $6.5M
- Date: July 2017
- Lead Investors: The Blue Venture Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and improve client relationships.
- Series B
- Amount Raised: $16M
- Date: November 2019
- Lead Investors: SV Health Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To deepen relationships with current clients and expand into new locations.
Total Amount Raised: $25.52M. Current Valuation: Not publicly disclosed.
Key Investors
- SV Health Investors
- Details: SV Health Investors is a venture capital firm that focuses on investing in healthcare companies. Michael Balmuth, Managing Partner, and Carl Culicchia, Vice President, are representatives from SV Health Investors who have joined Healthify's board of directors.
- Investment Focus Areas: Healthcare, biotechnology, medical devices.
- Notable Investments: Not publicly disclosed.
- The Blue Venture Fund
- Details: The Blue Venture Fund is an investment arm of BlueCross BlueShield that invests in innovative healthcare companies. They aim to improve healthcare delivery and outcomes through their investments.
- Investment Focus Areas: Healthcare, health technology, wellness.
- Notable Investments: Not publicly disclosed.
- BlueCross BlueShield Venture Partners (BCBSVP)
- Details: BlueCross BlueShield Venture Partners is an investment arm of BlueCross BlueShield that focuses on investing in innovative healthcare companies. They aim to improve healthcare delivery and outcomes.
- Investment Focus Areas: Healthcare, health technology, wellness.
- Notable Investments: Not publicly disclosed.
What's Next for Healthify?
Healthify is poised to capitalize on significant opportunities by deepening relationships with current clients and expanding into new locations such as Kansas City, Phoenix, and Cincinnati. The company’s platform, which integrates social determinants of health into value-based healthcare, is already utilized by over 40 enterprise healthcare organizations and thousands of social service organizations, indicating a substantial market presence and potential for further growth.
Future fundraising opportunities appear promising, given the successful Series B round and the involvement of prominent investors like SV Health Investors and BlueCross BlueShield Venture Partners. As Healthify continues to grow, additional funding rounds could support further expansion and technological development.
However, challenges remain. Ensuring the interoperability of its platform with various healthcare and social service systems, managing expansion while maintaining service quality, and navigating the complexities of formalizing contracts with diverse social service organizations are potential hurdles. Staying ahead of industry trends and technological advancements will be crucial for Healthify’s continued success.
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