Ribbon Health Health Data API Raises $ 43.5 Million Series B

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Ribbon health, which offers a healthcare data API platform, scored $ 43.5 million in a Series B funding round led by General Catalyst.

Other investors participating in the round include Andreessen Horowitz (a16z), BoxGroup, Rock Health and the CEO of the group and SCAN health plan, Sachin Jain.

Ribbon said Series B brings its total raise to $ 55 million.

WHAT HE DOES

Ribbon provides an API layer that customers can use for vendor directories, patient referrals that include information about accepted assurance and quality metrics, navigation of care, purchasing insurance, and comparing insurance. plans.

“While consumers can easily find the address of a local restaurant, the same cannot be said for patients who look for a phone number to make an appointment for a critical MRI or to confirm they are seeing. a networked clinician. and of high quality, so there are no unexpected costs associated with their care visit, ”CEO and co-founder Nate Maslak said in a statement.

“This medical data problem hurts patients because it often leads people to delay care, withdraw from treatment, or face unnecessary and burdensome financial impact.”

WHY IT’S FOR

The company plans to use the capital to expand its team and invest in its technology platform.

Holly Maloney, Managing Director of General Catalyst, will also join Ribbon’s Board of Directors as part of Series B.

MARKET OVERVIEW

Founded in 2016, Ruban raised $ 10.25 million in Series A funding in February 2020. Last June, it partnered with direct-to-consumer virtual care company Ro to help users and their virtual providers find local services in anybody.

Another company that aims to use data for better healthcare management is Innovaccer, which earlier this year, it raised $ 105 million in Series D funding, bringing its valuation to $ 1.3 billion.

Other players in the health data space include Health Catalyst and Lightbeam Health Solutions.

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