Personalized member engagement platform provider Insightin Health has raised $12 million in a Series A funding round, which it plans to use to scale the platform, bring on new clients, and cater to existing customers’ unique needs. The company said the round was co-led by the Blue Venture Fund – a unique collaboration between Blue Cross Blue Shield (BCBS) companies, the Blue Cross Blue Shield Association, and Sandbox – and Blue Heron Capital, an operationally focused healthcare growth equity fund.
- Founded in 2016, the company is now a leading provider of data-driven decision-making technology for healthcare member acquisition, retention, and engagement, through its proprietary platform, inGAGE. By applying natural language processing (NLP) to clinical information and social determinants of health, the platform generates Next Best Action (NBA) algorithm for care management and retention for each member.
- “Blue Venture Fund sits at an intersection of venture capital and healthcare plans, which makes us feel uniquely qualified to support brands like Insightin Health,” said Binoy Bhansali, Managing Director of the Blue Venture Fund. “We’re committed as an organization to improve the health system, and we feel a solution like Insightin Health takes great strides in getting us there. Their ability to leverage data strategically elevates Medicare Advantage and Managed Medicaid Plans’ abilities to improve quality, reduce costs, and drive growth and retention by better engaging members.”
- According to the company, it delivers the industry’s only single platform which provides complete personalized member engagement for each step of the health care journey. The core platform inGAGE combines medical, clinical, cognitive, and social determinants of health to recommend the Next Best Action (NBA) for each person. The platform has aggregated data for over 5 million people.
- Enam Noor, CEO and Founder of Insightin Health, said they intend to use this “inflow of capital to bring our offerings to even more clients and customers”. Existing investors also investing in the round include Health Catalyst Capital, Revolution’s Rise of the Rest fund, and SaaS Ventures.