Blue Venture Fund

Blue Venture Fund is a strategic investment entity based in Chicago, Illinois, founded in 2008. The organization focuses on fostering innovation within the healthcare sector by investing in emerging companies that have the potential to enhance the quality of care, improve patient experiences, and reduce costs. It specifically targets investments in healthcare technology, healthcare services, and clinical sciences. The fund aligns its investment strategy with the needs and priorities of Blue Cross Blue Shield member companies and their policyholders, ensuring that its initiatives support the broader goal of advancing healthcare solutions.

John Banta

Managing Director

John Banta

Vice President of Investments

Christian Horn

Associate

Kelsey Tsai

Vice President

Past deals in Health Insurance

Tuesday Health

Venture Round in 2024
Tuesday Health empowers lives through supportive care by easing the symptoms and stress of serious illness.

Sempre Health

Venture Round in 2023
Sempre Health, Inc. operates a behavior-based healthcare pricing platform that collaborates with health plans and pharmaceutical manufacturers to offer dynamic co-payment adjustments based on individual patient adherence and behavior. Founded in 2015 and based in San Francisco, the company analyzes prescription records to forecast the most appropriate price for medications based on a patient's timely adherence. Patients receive personalized SMS messages that inform them of potential discounts and encourage prompt prescription refills, such as alerts indicating that filling a prescription today may cost $10, while delaying could raise the price to $30. This innovative approach not only aims to improve patients' access to affordable care but also generates valuable real-world data on patient price sensitivities and cost behaviors.

Nest Health

Venture Round in 2023
Nest Health is a family healthcare platform that provides a range of medical services aimed at reducing the stress associated with traditional healthcare arrangements. The company specializes in delivering in-home and virtual visits for patients of all ages, including newborns, children, teens, and adults. Their offerings encompass preventive care, sick visits, behavioral health support, nutrition guidance, and chronic disease management. By enabling patients to receive care in the comfort of their homes, Nest Health seeks to enhance accessibility and convenience in healthcare delivery.

Limber

Series A in 2022
Limber Health operates a healthcare platform that integrates digital technology with in-clinic musculoskeletal (MSK) care. Designed by physical therapists and physicians, the platform provides tools for remote therapeutic monitoring, home exercise programs, outcomes collection, and care navigation, facilitating a hybrid model of care that combines in-person visits with digital support. Clinically validated through research at Mayo Clinic, Limber Health has been recognized for its impactful technology in the field of rehabilitation. The platform aims to enhance patient care by allowing providers to extend their services beyond the clinic, ensuring that patients receive comprehensive support tailored to their needs.

Upward Health

Series B in 2022
Upward Health Inc. is a specialty care coordination organization that focuses on home-based medical and behavioral care for individuals facing mental illness and substance abuse disorders. Established in 2017 and based in Providence, Rhode Island, the company collaborates with health plans and providers to ensure comprehensive support for patients with complex needs. By coordinating care among caregivers, primary care physicians, and various medical and behavioral health specialists, Upward Health aims to facilitate full recovery and safe transitions back to the community. The organization emphasizes hands-on, holistic care, which not only improves health outcomes for high-risk members but also reduces overall healthcare costs. Upward Health was previously known as BehaveCare Inc. before rebranding in July 2019.

First Dollar

Series A in 2022
First Dollar, Inc. is a healthcare savings platform that specializes in health savings accounts (HSAs) and aims to assist users, particularly millennials and Gen Z, in managing their healthcare and retirement planning. Established in 2019 and based in Austin, Texas, the company provides a range of services including health care products, health plans, prescriptions, primary care, urgent care, dental, vision, and wellness services. Its platform serves as an administrator for HSAs and flexible spending accounts (FSAs), addressing challenges related to low HSA utilization by educating employees on how to effectively fund, invest, and save on out-of-pocket healthcare expenses.

Workit Health

Series C in 2021
Workit Health, Inc. is a provider of online therapeutic content and professional counseling services focused on substance use recovery. Established in 2014 and based in Ann Arbor, Michigan, the company operates the Workit platform, which offers clinically proven telemedicine treatment for substance use disorder, including online therapy, medication-assisted treatment, psychiatric support, and primary care. Workit Health's services are designed to help individuals achieve long-term recovery from drugs and alcohol while minimizing disruption to their daily lives. The platform facilitates access to on-demand, in-person, and virtual medical and psychosocial support, catering to a wide range of clients including employers, educational institutions, healthcare facilities, and recovery communities. Additionally, Workit Health provides accredited opioid addiction treatment featuring buprenorphine, enhancing its commitment to harm reduction in addiction care. The company has locations in California, New Jersey, Alaska, and Washington.

Bluestone Physician Services

Private Equity Round in 2021
Bluestone Physician Services is a medical practice company specializing in geriatrics and integrated care solutions for chronic-care patients. Operating across Minnesota, Wisconsin, Florida, and Virginia, the company provides comprehensive geriatric primary care, care coordination, and behavioral health services. Utilizing a multi-dimensional home care model, Bluestone focuses on serving frail, chronically ill, and underserved patients in community homes and assisted living facilities. By delivering these tailored services, the company aims to enhance the quality of life for individuals managing chronic conditions.

Workit Health

Series B in 2020
Workit Health, Inc. is a provider of online therapeutic content and professional counseling services focused on substance use recovery. Established in 2014 and based in Ann Arbor, Michigan, the company operates the Workit platform, which offers clinically proven telemedicine treatment for substance use disorder, including online therapy, medication-assisted treatment, psychiatric support, and primary care. Workit Health's services are designed to help individuals achieve long-term recovery from drugs and alcohol while minimizing disruption to their daily lives. The platform facilitates access to on-demand, in-person, and virtual medical and psychosocial support, catering to a wide range of clients including employers, educational institutions, healthcare facilities, and recovery communities. Additionally, Workit Health provides accredited opioid addiction treatment featuring buprenorphine, enhancing its commitment to harm reduction in addiction care. The company has locations in California, New Jersey, Alaska, and Washington.

Contessa

Series D in 2019
Contessa, based in Nashville, specializes in Home Recovery Care, a model designed to deliver inpatient hospital care directly in patients' homes. Founded in 2015, the company offers a comprehensive range of services, including acute care, post-acute care, and surgical procedures, supported by its proprietary health informatics platform. This innovative approach allows health systems to enhance their care delivery by treating patients outside of traditional hospital settings, ultimately leading to improved patient outcomes and experiences. Contessa's solutions provide significant cost savings for health plans, enabling a more efficient and effective healthcare model.

Healthify

Series B in 2019
Healthify builds the infrastructure to support social determinants of health initiatives at scale. The company builds and manages accountable networks of community-based organizations and provides a technology platform that streamlines the closed-loop referral process, fosters collaboration across the network, and tracks results. Healthify works with community partners, health plans, and providers in all fifty states and is dedicated to community partner sustainability and demonstrating ROI for social service interventions to ensure that families receive the services they need to thrive.

Solera Health

Series C in 2019
Solera Health, Inc. is a preventive care benefits manager based in Phoenix, Arizona, that operates a technology platform designed to connect patients, payers, and physicians with community organizations and digital therapeutics companies. Founded in 2015, Solera's platform consolidates diverse healthcare programs into a single marketplace, facilitating increased consumer participation in health management. The company focuses on value-based health solutions, matching users with tailored programs that address a variety of health concerns, including hypertension, obesity, tobacco usage, diabetes prevention, mental health, and more. By linking members to appropriate health technologies and non-clinical healthcare providers, Solera aims to enhance the management and improvement of overall health outcomes for its users.

Verata Health (Now Part of Olive)

Series A in 2019
Verata Health, now part of Olive, was established in 2017 and is headquartered in Bloomington, Minnesota, with additional offices in Minneapolis, Boston, and Orlando. The company specializes in developing artificial intelligence-based software solutions aimed at improving the prior authorization process for healthcare providers and payers. Its platform synthesizes clinical documentation and medical necessity rules to provide real-time decision recommendations, thereby streamlining manual tasks and enhancing efficiency. By removing barriers associated with prior authorization, Verata Health's technology enables healthcare providers, private practices, and pharmacies to take control of their revenue cycles, reduce write-offs, and ensure that patients receive timely care. The company has gained trust from health systems and providers across the country for its innovative approach to modernizing the healthcare authorization process.

OncoHealth

Series B in 2018
OncoHealth specializes in oncology benefits management, offering a range of services designed to support health plans, employers, providers, patients, and life science researchers in managing the complexities of cancer care. Its offerings include prior authorization services, clinical decision support, physician education, expert peer review, and oncology network evaluation and optimization consulting. Additionally, OncoHealth provides MATIS, a clinical decision support software that employs evidence-based analytics for evaluating cancer treatment and benefits management in the United States and Puerto Rico. The company aims to alleviate the physical, mental, and financial burdens associated with cancer through technology-driven solutions and real-world data. Founded in 2009, OncoHealth is headquartered in Atlanta, Georgia, with an additional location in Plantation, Florida.

Patientco

Series B in 2018
Patientco is a payment technology company based in Atlanta, Georgia, that specializes in providing a cloud-based platform designed to enhance financial engagement between patients and healthcare providers. Since its founding in 2009, Patientco has developed an integrated suite of communication and payment tools that streamline the billing process, enabling patients to better understand and manage their healthcare expenses. The platform includes features such as digital-first billing, payment plans, automated pay-by-phone services, and staff-assisted payment options. Additionally, it offers analytics and reporting tools to help healthcare systems improve their revenue cycles and enhance patient financial care. With support from investors like BlueCross BlueShield Venture Partners and Sandbox Industries, Patientco aims to transform the patient billing experience for the benefit of both patients and providers.

Lumiata

Series B in 2018
Lumiata Inc. specializes in predictive health analytics tailored for risk-bearing organizations, including hospital networks and insurance carriers. Founded in 2013 and based in San Mateo, California, the company has developed a medical graph that organizes and analyzes diverse healthcare data, enabling real-time predictive analytics. Its flagship product, The Lumiata Risk Matrix, provides personalized predictions regarding individual health changes, supported by a chain of medical reasoning. By leveraging over 120 million patient records and proprietary clinical knowledge, Lumiata's machine learning tools empower healthcare providers and payers to enhance decision-making, manage costs, and improve patient care. The company serves a range of clients, including payers, population health organizations, and digital health companies, facilitating applications in underwriting and care management while prioritizing member privacy.

Contessa

Series C in 2018
Contessa, based in Nashville, specializes in Home Recovery Care, a model designed to deliver inpatient hospital care directly in patients' homes. Founded in 2015, the company offers a comprehensive range of services, including acute care, post-acute care, and surgical procedures, supported by its proprietary health informatics platform. This innovative approach allows health systems to enhance their care delivery by treating patients outside of traditional hospital settings, ultimately leading to improved patient outcomes and experiences. Contessa's solutions provide significant cost savings for health plans, enabling a more efficient and effective healthcare model.

Lumiata

Series A in 2017
Lumiata Inc. specializes in predictive health analytics tailored for risk-bearing organizations, including hospital networks and insurance carriers. Founded in 2013 and based in San Mateo, California, the company has developed a medical graph that organizes and analyzes diverse healthcare data, enabling real-time predictive analytics. Its flagship product, The Lumiata Risk Matrix, provides personalized predictions regarding individual health changes, supported by a chain of medical reasoning. By leveraging over 120 million patient records and proprietary clinical knowledge, Lumiata's machine learning tools empower healthcare providers and payers to enhance decision-making, manage costs, and improve patient care. The company serves a range of clients, including payers, population health organizations, and digital health companies, facilitating applications in underwriting and care management while prioritizing member privacy.

Solera Health

Series B in 2017
Solera Health, Inc. is a preventive care benefits manager based in Phoenix, Arizona, that operates a technology platform designed to connect patients, payers, and physicians with community organizations and digital therapeutics companies. Founded in 2015, Solera's platform consolidates diverse healthcare programs into a single marketplace, facilitating increased consumer participation in health management. The company focuses on value-based health solutions, matching users with tailored programs that address a variety of health concerns, including hypertension, obesity, tobacco usage, diabetes prevention, mental health, and more. By linking members to appropriate health technologies and non-clinical healthcare providers, Solera aims to enhance the management and improvement of overall health outcomes for its users.

Healthify

Series A in 2017
Healthify builds the infrastructure to support social determinants of health initiatives at scale. The company builds and manages accountable networks of community-based organizations and provides a technology platform that streamlines the closed-loop referral process, fosters collaboration across the network, and tracks results. Healthify works with community partners, health plans, and providers in all fifty states and is dedicated to community partner sustainability and demonstrating ROI for social service interventions to ensure that families receive the services they need to thrive.

Solera Health

Series A in 2017
Solera Health, Inc. is a preventive care benefits manager based in Phoenix, Arizona, that operates a technology platform designed to connect patients, payers, and physicians with community organizations and digital therapeutics companies. Founded in 2015, Solera's platform consolidates diverse healthcare programs into a single marketplace, facilitating increased consumer participation in health management. The company focuses on value-based health solutions, matching users with tailored programs that address a variety of health concerns, including hypertension, obesity, tobacco usage, diabetes prevention, mental health, and more. By linking members to appropriate health technologies and non-clinical healthcare providers, Solera aims to enhance the management and improvement of overall health outcomes for its users.

Contessa

Series B in 2016
Contessa, based in Nashville, specializes in Home Recovery Care, a model designed to deliver inpatient hospital care directly in patients' homes. Founded in 2015, the company offers a comprehensive range of services, including acute care, post-acute care, and surgical procedures, supported by its proprietary health informatics platform. This innovative approach allows health systems to enhance their care delivery by treating patients outside of traditional hospital settings, ultimately leading to improved patient outcomes and experiences. Contessa's solutions provide significant cost savings for health plans, enabling a more efficient and effective healthcare model.

IDX

Venture Round in 2016
IDX is a consumer privacy platform that empowers individuals to manage their privacy and identity effectively. The company provides a range of services, including data breach response, medical fraud monitoring, and identity theft protection. IDX's innovative technology monitors financial activities, the dark web, and medical transactions to detect potential fraud. It also offers unique health claims monitoring and a variety of insurance options to cover identity theft expenses and losses from electronic theft. Trusted by both government and enterprise clients, as well as partners in employee benefits and e-commerce, IDX is committed to safeguarding the identities of its customers and their employees.

Solera Health

Series A in 2016
Solera Health, Inc. is a preventive care benefits manager based in Phoenix, Arizona, that operates a technology platform designed to connect patients, payers, and physicians with community organizations and digital therapeutics companies. Founded in 2015, Solera's platform consolidates diverse healthcare programs into a single marketplace, facilitating increased consumer participation in health management. The company focuses on value-based health solutions, matching users with tailored programs that address a variety of health concerns, including hypertension, obesity, tobacco usage, diabetes prevention, mental health, and more. By linking members to appropriate health technologies and non-clinical healthcare providers, Solera aims to enhance the management and improvement of overall health outcomes for its users.

OncoHealth

Series A in 2016
OncoHealth specializes in oncology benefits management, offering a range of services designed to support health plans, employers, providers, patients, and life science researchers in managing the complexities of cancer care. Its offerings include prior authorization services, clinical decision support, physician education, expert peer review, and oncology network evaluation and optimization consulting. Additionally, OncoHealth provides MATIS, a clinical decision support software that employs evidence-based analytics for evaluating cancer treatment and benefits management in the United States and Puerto Rico. The company aims to alleviate the physical, mental, and financial burdens associated with cancer through technology-driven solutions and real-world data. Founded in 2009, OncoHealth is headquartered in Atlanta, Georgia, with an additional location in Plantation, Florida.

IDX

Series A in 2016
IDX is a consumer privacy platform that empowers individuals to manage their privacy and identity effectively. The company provides a range of services, including data breach response, medical fraud monitoring, and identity theft protection. IDX's innovative technology monitors financial activities, the dark web, and medical transactions to detect potential fraud. It also offers unique health claims monitoring and a variety of insurance options to cover identity theft expenses and losses from electronic theft. Trusted by both government and enterprise clients, as well as partners in employee benefits and e-commerce, IDX is committed to safeguarding the identities of its customers and their employees.

Lumiata

Series A in 2014
Lumiata Inc. specializes in predictive health analytics tailored for risk-bearing organizations, including hospital networks and insurance carriers. Founded in 2013 and based in San Mateo, California, the company has developed a medical graph that organizes and analyzes diverse healthcare data, enabling real-time predictive analytics. Its flagship product, The Lumiata Risk Matrix, provides personalized predictions regarding individual health changes, supported by a chain of medical reasoning. By leveraging over 120 million patient records and proprietary clinical knowledge, Lumiata's machine learning tools empower healthcare providers and payers to enhance decision-making, manage costs, and improve patient care. The company serves a range of clients, including payers, population health organizations, and digital health companies, facilitating applications in underwriting and care management while prioritizing member privacy.

Essence Group Holdings

Private Equity Round in 2014
Essence Group Holdings Corporation, through its subsidiaries, offers health insurance and software. The company was incorporated in 2007 and is based in Maryland Heights, Missouri.

MedSave USA

Venture Round in 2014
MedSave has been a leader in a wide range of healthcare services since 1985. They have applied innovative thinking, proprietary technology and a client-focused business model in order to serve their clients with a suite of services that include: Risk Adjustment, Managed Care Administration, Medical Record Retrieval & Coding Services, Third Party Administration for Employer Health Plans, International healthcare cost management services as well as Administrative Back-Office solutions for Hospice Organizations. They are a TPA (Third Party Administrator) for hospitals, healthcare systems and public entities.

Clarus Care

Seed Round in 2013
Clarus Care is the developer of enhanced physician /patient after-hour communication tools. Clarus develops Clarus OnCall, a platform that securely documents details of a patient’s after-hours emergency and transcribes the message directly to a physician’s smartphone, tablet or email. Physicians minimize time spent relaying information to third parties, and engages, privately and securely, directly with the patient. Clarus solutions reduce risk, improve revenue, and minimize third-party errors while providing better communication and better care. Clarus OnCall, and future Clarus products, will continue to provide better communication, better communication, better privacy, and better workflow. Through the process of streamlining after-hours call management, physician practices can focus on what they do best – caring for patients.

ZeOmega

Funding Round in 2013
ZeOmega, established in 2001, specializes in population health management by offering a comprehensive platform tailored for payers, providers, and value-based care organizations. The platform integrates workflow, analytics, content, and communication tools to address complex population health challenges. By facilitating collaboration among various stakeholders, ZeOmega enables clients to adopt diverse healthcare management strategies, enhancing the quality of care, provider performance, and patient satisfaction while achieving cost savings. The company's solutions include tools for commercial health plans, holistic assessments, and personalized care planning, all aimed at improving health outcomes and ensuring compliance. ZeOmega positions itself as a reliable technology partner for health plans, disease management organizations, patient-centered medical homes, and other entities involved in medical and care management services.

NaviHealth

Venture Round in 2013
naviHealth, Inc. specializes in managing post-acute healthcare services in the United States. The company develops software for post-acute care management and collaborates with health plans, hospitals, and providers to streamline care transitions. By employing evidence-based protocols and technology, naviHealth optimizes clinical and financial outcomes throughout the care continuum. Its services include clinical support, analytics, and decision support tools that help create customized patient-centric care plans and enhance provider networks. This approach not only improves patient outcomes and satisfaction but also reduces inpatient days and hospital readmissions. Founded in 2011 and headquartered in Brentwood, Tennessee, naviHealth also has offices in Newton, Massachusetts, and Conshohocken, Pennsylvania, and operates as a subsidiary of OptumHealth, Inc.

NaviHealth

Venture Round in 2013
naviHealth, Inc. specializes in managing post-acute healthcare services in the United States. The company develops software for post-acute care management and collaborates with health plans, hospitals, and providers to streamline care transitions. By employing evidence-based protocols and technology, naviHealth optimizes clinical and financial outcomes throughout the care continuum. Its services include clinical support, analytics, and decision support tools that help create customized patient-centric care plans and enhance provider networks. This approach not only improves patient outcomes and satisfaction but also reduces inpatient days and hospital readmissions. Founded in 2011 and headquartered in Brentwood, Tennessee, naviHealth also has offices in Newton, Massachusetts, and Conshohocken, Pennsylvania, and operates as a subsidiary of OptumHealth, Inc.

Patientco

Series A in 2012
Patientco is a payment technology company based in Atlanta, Georgia, that specializes in providing a cloud-based platform designed to enhance financial engagement between patients and healthcare providers. Since its founding in 2009, Patientco has developed an integrated suite of communication and payment tools that streamline the billing process, enabling patients to better understand and manage their healthcare expenses. The platform includes features such as digital-first billing, payment plans, automated pay-by-phone services, and staff-assisted payment options. Additionally, it offers analytics and reporting tools to help healthcare systems improve their revenue cycles and enhance patient financial care. With support from investors like BlueCross BlueShield Venture Partners and Sandbox Industries, Patientco aims to transform the patient billing experience for the benefit of both patients and providers.

Essence Group Holdings

Private Equity Round in 2011
Essence Group Holdings Corporation, through its subsidiaries, offers health insurance and software. The company was incorporated in 2007 and is based in Maryland Heights, Missouri.

Essence Group Holdings

Private Equity Round in 2011
Essence Group Holdings Corporation, through its subsidiaries, offers health insurance and software. The company was incorporated in 2007 and is based in Maryland Heights, Missouri.
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