Collective Health, a San Francisco-based health technology company, has raised $205m in Series E funding round as it seeks to expand in the $1.2tn employer health insurance industry.
Led by SoftBank Vision Fund, the funding round also witnessed the participation of PSP Investments, DFJ Growth, and G Squared.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Additionally, existing health investors including Founders Fund, GV, Maverick Ventures, Mubadala Ventures, NEA, Sun Life, and other leading investors also participated in the round.
Collective Health said that the fund will be invested to speed up adoption of its enterprise healthcare platform with employers across the US.
Furthermore, the fund will be spent on providing improved technology capabilities to deal with fundamental health insurance service problems in the US.
The fund will also be invested to improve claims and payments technology to provide more transparency for cost of care, quicker payments, better member navigation, and fraud detection.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe healthcare company, which currently has 80 integrated health partners, is considering adding new partners on its open platform.
These include new local and national medical PPO networks, provider systems serving the commercial market, and digital health solutions.
Collective Health co-founder and CEO Ali Diab said: “We’re appreciative of our investors, both new and returning, in their commitment to supporting our mission to fix the deepest rooted problems in healthcare today.
“We’re excited to have the SoftBank Vision Fund lead the round given their proven track record of supporting category-defining companies, and they share our vision for a better healthcare experience.
“Whether working with more networks or helping facilitate direct relationships between employers and provider systems, we will continue to set the standard for the industry with a focus on the customer, providing the healthcare experience we all deserve.”
