Health engagement platform for large employers and insurers Accolade has secured $22.5 million in strategic funding from a subsidiary of Independence Health Group, the parent company of Independence Blue Cross (Independence), and McKesson Ventures.
The company will use the new funds to further strengthen its technology and analytics capabilities while capitalizing on a strong customer pipeline and growing market demand for healthcare solutions that are proven to save money, drive the right utilization and improve how consumers navigate the healthcare system.
Accolade will use the new funds to further strengthen its technology and analytics capabilities.“It’s hugely gratifying to receive this latest round of funding from two innovation-driven companies that know healthcare and know Accolade and the kind of results we deliver,” says Accolade CEO Tom Spann. “With this capital, we’ll invest in growing the business and enhancing our technology & analytics platform — while continuing to make a huge difference in the lives of the individuals and families we serve.”
Accolade currently works with some of the nation’s largest self-insured employers, health systems and health plans, including Independence. Its consumer engagement and influence solution helps consumers more effectively use their benefits and access the right care the first time. Accolade’s cloud-based platform integrates longitudinal consumer insights and proprietary algorithms to identify individualized care needs, match intervention types, optimize plans of action and personalize consumer outreach and messaging strategies across digital, mobile and personal channels.
Independence and McKesson Ventures join previous investors Accretive LLC, Carrick Capital Partners, Oak Hill Capital Partners and Comcast Ventures.