Accolade raises $71 million to advance personalized health concierge software
Seattle-based Accolade, an on-demand healthcare concierge offering for employers, health plans and health systems, has raised $71.1 million to ramp up its technology platform.
Accolade’s model combines personalized service with clinical support and consumer engagement technologies to uncover inefficient healthcare utilization and its impact on healthcare costs and outcomes. Cost savings range from 5-15 percent, Accolade said.
Driving the Accolade model is a data science strategy that combines deep datasets with personal insights gleaned from relationships between Accolade health assistants and the individuals and families they support.
Accolade’s relationship-based approach, mobile offerings, analytics tools, and clinical models present a data-centric view of the whole person, not just one condition, to create a level of personalization and engagement that is not seen elsewhere in healthcare, Accolade CEO Rajeev Singh said in a statement.
Singh added that a personalized model for the consumer that blends human touch with clinical expertise, and state-of-the-art engagement technology is critical for next-generation healthcare.
Including the $71.1 million, which is part of Accolade’s Series E funding, the startup has raised a total of $92.5 million, beginning in July 2015 with $22.5 million invested by a subsidiary of Independence Health Group, and McKesson Ventures, led by Andreessen Horowitz and with participation from Madrona Venture Group, and others.
As part of this most recent investment, Accolade will add Andreessen Horowitz General Partner and Former CEO of OpenTable Jeff Jordan to its board of directors.