Bethesda, Md.-based Aledade announced Monday it raised a $30 million Series B funding round, led by ARCH Venture Partners.
Series A investor Venrock made an additional investment in the company, which was launched in 2014 by Farzad Mostashari, MD, former National Coordinator for Health IT at HHS, to help independent primary care physicians form accountable care organizations. "There is a revolution happening in healthcare, and we are finding that doctors across the country are ready to embrace this change, but need a partner to help them get there. Aledade is that partner," Dr. Mostashari said in a statement.
The new funding will support Aledade's mission to help physicians launch ACOs, expand existing ACOs, develop prevention-focused applications and practice-centered software, and expand staff to help practices improve care delivery for a lower cost.
"We're helping independent physicians achieve better outcomes for their patients — and be compensated for it. The demand for our services has been overwhelming. This funding will help us reach more doctors, and continue to provide them an expanding array of services to better run their business and care for their patients," Dr. Mostashari said.
After a year in business, Aledade has expanded across nine states and is on target to more than triple its patient-base from 25,000 last year to cover more than 75,000 Medicare beneficiaries by Dec. 31.
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