Cohere Health secures $50 million funding
Prior authorization software company Cohere Health closed a $50 million Series B extension.
Investment firm Deerfield Management led the round with support for venture capital firms Define Ventures, Flare Capital Partners, Longitude Capital and Polaris Partners. The company first announced its Series B in April 2021.
Read more: Andreessen Horowitz, AMA among digital health funders this week
In a news release, Cohere said it would use the funding to expand and further scale its prior authorization software, which digitalizes prior authorization requests into a single workflow and automates decisions using health plan-preferred policies.
The funding brings the company’s total raised to date to $106 million.
Read more: How CMS’ prior authorization rule will affect insurers
Accompany Health launches with $56M Series A
The company, which was founded in 2022, offers primary, behavioral and social care to low-income patients through at-home providers and virtual platforms. Read more.
Saudi Arabia oil company among ArteraAI investors
ArteraAI, a precision medicine company, received $20 million in funding.
Prosperity7 Ventures, a venture capital fund of Saudi Arabian oil company Aramco Ventures, was among the venture capital firms backing ArteraAI. Singapore-based investor EDBI, venture capital firms Walden Catalyst Ventures and Trium Ventures and law firm Wilson Sonsini Goodrich & Rosati also participated in the round.
ArteraAI sells and develops predictive and prognostic cancer tests. The company has developed an algorithm that assesses digital images from a patient’s biopsy and learns from a patient's clinical data.
ArteraAI launched publicly with an initial funding of $90 million in April 2023.
Intermountain, Memorial Hermann back Foodsmart
Foodsmart, a food-as-medicine startup, raised $10 million in a Series C funding extension.
The company said the funding came from health systems Advocate Health, Memorial Hermann, Intermountain Health, the American College of Cardiology and a venture fund led by Transcarent CEO Glen Tullman.
Foodsmart said the additional funding will be used to scale its program, which aims to help patients address nutrition-related chronic illnesses like obesity, high blood pressure and diabetes.
On Wednesday, the Health and Human Services Department said it was partnering with Instacart to bolster national food-as-medicine efforts by focusing on research, program design and strategies to educate consumers and roll out programs.
Radiology marketplace company raises $6M
CARPL, a software marketplace company focused on radiology, announced it secured $6 million in funding.
The round was led by venture capital firm Stellaris Venture Partners. Strategic and angel investors from insurer UnitedHealth, Novo Nordisk’s Novo Holdings, investment firm Leapfrog PE and consulting firms Bain & Co and Boston Consulting Group.
CARPL said its marketplace aims to help providers identify technology that they can implement in their workflows. The company, founded in 2021, said it will use the funding to help market its software to provider customers.
Read more: Mental health startups secure funding deals this week
