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UpStream Healthcare, which presents expertise and assist companies for value-based major care practices, raised $140 million in Collection B funding.
The spherical was co-led by Coatue and Dragoneer with participation from buyers together with Avidity Companions, Outline Ventures and Mubadala.
The Collection B brings the startup’s complete funding pot to almost $185 million. UpStream had beforehand introduced a $45 million Series A round in November 2021.
WHAT THEY DO
UpStream presents a tech platform and scientific assist to practices that work with sufferers on Medicare and Medicare Benefit plans.
The startup gives embedded scientific assist groups that may help major care practices, like pharmacists or care coordination nurses. There are additionally off-site groups that may help practices or sufferers throughout off-hours.
UpStream’s instruments embrace a tech platform that makes use of EHR knowledge, claims from payers and data sufferers mentioned with their care groups to determine sufferers who want assist and enhance scientific workflows. The startup additionally touts a mannequin that gives funds for high quality in the course of the efficiency 12 months, versus fee acquired as soon as the 12 months has ended.
“Main care physicians are an integral a part of the U.S. healthcare system, and all share a mission to see their senior sufferers stay wholesome, impartial lives free from the burden of power illness. Nevertheless, they usually lack the sources and expertise to realize their targets whereas additionally struggling to thrive financially within the value-based care period. That is what UpStream brings to the desk and is why we’re seeing unprecedented adoption amongst main doctor teams,” Dr. Sanjay Doddamani, cofounder and CEO of UpStream, stated in an announcement. “We’re honored to have attracted such a various and stellar mixture of high buyers – every of whom carry distinctive high quality and expertise that’ll be invaluable for us to proceed rising.”
MARKET SNAPSHOT
Although digital well being funding has slowed significantly this 12 months in contrast with 2021, a number of different startups pitching observe assist and software program have raised giant rounds this 12 months.
Alma, which focuses on psychological well being professionals, announced it had raised $130 million in Collection D funding in August. Tebra, a startup that provides affected person engagement and observe progress instruments, scooped up $72 million over the summer time. Psychological well being observe administration firm Develop Remedy announced a $75 million Series B in September.
In June, Aledade, which gives knowledge analytics and assist to assist major care suppliers construct accountable care organizations, raised $123 million in a Collection E funding spherical. According to Insider, the funding boosted the corporate’s valuation to $3.1 billion.
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