Aledade scores $123M for value-based care and more digital health fundings

Also: Drug discovery platform Insilico Medicine raises $60 million, Women's virtual care startup Visana Health brings in $2.6 million and digital reproductive care clinic Choix scoops up $1 million.
By Emily Olsen
01:21 pm

Photo: 10'000 Hours/Getty Images

Aledade, which works with primary care providers to build tech-enabled accountable care organizations, raised $123 million in a Series E funding round led by OMERS Growth Equity.

Other participants in the round include Fidelity Management and Research Company and other current investors. The raise brings the startup's valuation to $3.1 billion, according to reporting by Insider

Aledade said it plans to use the funding to focus on offering more value-based care arrangements for seniors covered by Medicare Advantage and to expand offerings under its new health services subsidiary Aledade Care Solutions. 

The company announced a $100 million Series D in January 2021 and a $64 million Series C in April 2020. 

"When we started Aledade nearly a decade ago, we made a bet that if we empowered primary care doctors with the right insights, technology and contracts that paid for value, we could improve patient outcomes, cut wasteful spending and create a scalable business model for these practices and Aledade to thrive," CEO and cofounder Dr. Farzad Mostashari said in a statement. 

"With this financing, Aledade is extremely well positioned in this market environment to accelerate our work to meet patients where they are, especially in Medicare Advantage, and seize new opportunities to expand wraparound patient care services. Difficult market conditions can create exceptional opportunities for strong businesses to get stronger and that is our plan."

Drug discovery platform Insilico Medicine scored $60 million in Series D funding.

The round included participation from BHR Partners as well as previous investors Warburg Pincus, B Capital Group, Qiming Venture Partners, BOLD Capital Partners and Pavilion Capital. The company's founder and CEO Alex Zhavoronkov also invested in the Series D.

Insilico will use the funds to advance its product pipeline, develop its Pharma.AI drug discovery engine and expand globally. The company announced a $225 million Series C funding round in June last year. 

Women's health-focused virtual care startup Visana Health wrapped up a $2.6 million seed round, according to reporting by Minne Inno

The seed included participation from Flare Capital Partners, Pixel Perfect Ventures, InHealth Ventures, SWL Healthcare Ventures and angel investors. The startup will use the funding to add additional women's health services and launch a pilot with a national health plan to study the efficacy of its tools.

Choix, a telemedicine clinic for reproductive care, raised $1 million in seed funding led by Elevate Capital.

The startup, which offers medication abortions, emergency contraception, birth control, genital herpes care, cold sore treatment and UTI treatment, said it plans to raise an additional $500,000 to $1 million in the coming months.

"We're incredibly grateful to Elevate for believing in our mission to improve access to safe abortion care from home," CEO and cofounder Cindy Adam said in a statement. "We're passionate about the ability to grow our clinician team and expand operations in other states during a critical time, when reproductive access is increasingly at risk."