SonderMind Raises $150M to Expand Mission of Improving Behavioral Health

FCA Health Innovations I portfolio company, SonderMind, a national leader in improving mental health clinical outcomes and making behavioral health more accessible to all Americans, announced the successful completion of a $150 million Series C financing. The round was co-led by new investors Drive Capital and Premji Invest, with participation from General Catalyst, Partners Group, Smash Ventures, Kickstart Fund, and F-Prime Capital.

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Spiras Health Secures Five Year Value-Based Contract with Clover Health Direct Contracting Entity

Spiras Health today announced a five-year agreement with Clover Health, an innovative technology company improving health outcomes for America’s seniors, to provide complex care management services to Medicare members in Kansas and New Jersey. The value-based contract will provide Spiras Health’s personalized multi-modal approach to some of Clover’s most vulnerable patients.

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Investment Thesis Report: Prior Authorization

Prior authorization is a large burden on the healthcare system. While it was conceived as a way to cut unnecessary healthcare costs, the infrastructure of the prior authorization process has failed to innovate as rapidly as the rest of the healthcare industry, leaving providers and patients frustrated. Aside from the complexities surrounding the process as a whole, PA has been listed by physicians as the #1 cause of burnout. The volume of PAs are increasing by 20% per year due to the increasing number of medical treatments on the market.

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Andrew Bouldin
Vericred Raises $23M in Oversubscribed Series B Funding Round

NEW YORK, April 12, 2021 — Vericred, the innovative data services platform powering digital quote-to-card experiences in health insurance and benefits, today announced the completion of a Series B round of funding totaling $23 million and the addition of two new members to its board of directors. Aquiline Technology Growth led the oversubscribed funding round, which included participation from new investors Echo Health Ventures, MassMutual Ventures, Guardian Strategic Ventures, and existing investors Riverside Acceleration Capital, FCA Venture Partners and First Health Capital Partners.

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FCA Venture Partners Announces Investment in eBlu Solutions

LOUISVILLE, KY – April 7, 2021 – eBlu Solutions announced today that it has raised an $11.4M Series A round led by OCA Ventures (Chicago), with co-investors Mutual Capital Partners (Cleveland) and FCA Venture Partners’ Health Innovations II (Winston-Salem/Nashville).

Under the leadership of CEO Mark Murphy, eBlu Solutions is a digital health prior authorization software company – whose digital platform streamlines the prior authorization of expensive infusion-based specialty medications.

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