Total amount raised
$112.3 Million
Latest funding date
01/01/2025
Location
Solera Health has participated in 7 funding rounds, with the most recent being a Series E round involving 4 investors, including Health Care Service Corporation. The company is backed by 9 investors, with Horizon Mutual Holdings and Adams Street Partners among the latest to join.
Solera Health's value-based digital platform connects members and employees to curated health solutions, aiming to streamline operations, reduce the total cost of care, and improve health outcomes. Keep reading to explore the intricacies of Solera Health's fundraising journey and the investors backing this innovative platform.
What Is Solera Health?
Solera Health is a value-based digital platform that connects members and employees to curated health solutions. The company operates in the health care, hospital, SaaS, and wellness industries. Based in Phoenix, Arizona, Solera Health has between 101-250 employees.
Founded as a private company, Solera Health has raised funding over 7 rounds, with the latest being a Series E round. The company offers a range of digital health management programs tailored to various conditions such as digestive health, hypertension, mental health, musculoskeletal issues, tobacco cessation, women's health, weight management, and diabetes management.
How Much Funding Has Solera Health Raised?
- Series A (November 3, 2015)
- Amount Raised: USD 3,000,000
- Date: November 2015
- Lead Investors: Sandbox Industries, The Blue Venture Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of their digital health platform.
- Series A (June 17, 2016)
- Amount Raised: USD 4,000,000
- Date: June 2016
- Lead Investors: Sandbox Industries
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase market reach.
- Series A (January 4, 2017)
- Amount Raised: USD 4,999,997
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform and support initial customer acquisition.
- Series B (July 12, 2017)
- Amount Raised: USD 18,300,000
- Date: July 2017
- Lead Investors: Adams Street Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the customer base.
- Series C (May 15, 2019)
- Amount Raised: USD 42,000,000
- Date: May 2019
- Lead Investors: HCSC Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's technology and expand into new markets.
- Series D (March 1, 2022)
- Amount Raised: Not publicly disclosed
- Date: March 2022
- Lead Investors: Walgreens Boots Alliance
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate with retail health services and expand consumer reach.
- Series E (January 14, 2025)
- Amount Raised: USD 40,000,000
- Date: January 2025
- Lead Investors: Health Care Service Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development of the Solera HALO Cloud and expand access to digital healthcare.
Total Amount Raised: USD 112,299,997
Current Valuation: Not publicly disclosed
Key Investors
- Health Care Service Corporation (HCSC)
- Details: Health Care Service Corporation is a major health insurance company serving over 23 million individuals nationwide. It co-led Solera Health's Series E funding round.
- Investment Focus Areas: Health insurance, healthcare services.
- Notable Investments: Various health tech startups, insurance-related technologies.
- Adams Street Partners
- Details: Adams Street Partners is a private equity firm that invests in various sectors, including healthcare. It participated in Solera Health's Series E funding round.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Private equity funds, direct investments in healthcare companies.
- Cobalt Ventures
- Details: Cobalt Ventures is the investment arm of Blue Cross and Blue Shield of Kansas City. It focuses on healthcare and technology investments.
- Investment Focus Areas: Healthcare, health technology.
- Notable Investments: Health technology companies.
- Horizon Mutual Holdings, Inc.
- Details: Horizon Mutual Holdings, Inc. is a mutual holding company with investments in healthcare. It participated in Solera Health's Series E funding round.
- Investment Focus Areas: Health insurance, healthcare services.
- Notable Investments: Healthcare service providers, technology platforms.
- Sandbox Industries
- Details: Sandbox Industries is a venture capital firm that invests in early-stage companies. It was a lead investor in Solera Health's initial Series A funding round.
- Investment Focus Areas: Healthcare, technology, consumer products.
- Notable Investments: Early-stage healthcare startups, technology companies.
What's Next for Solera Health?
Solera Health stands at the cusp of significant growth, driven by the expansion of its HALO Cloud and the integration of numerous digital health applications. This opportunity is bolstered by strategic partnerships and a $40 million funding round, positioning the company to enhance its technology and broaden its market reach.
Future fundraising appears promising, with the potential for additional rounds to support ongoing innovation and expansion. However, challenges such as integrating diverse digital health solutions and maintaining seamless operations could pose hurdles. Navigating these complexities will be crucial as Solera Health continues to scale and innovate in the digital healthcare landscape.
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