Arcadia, an artificial intelligence analytics firm, announced on Jan. 13 that it closed a $29.5 million growth equity investment led by Cigna Ventures in the fourth quarter of fiscal year 2019.
Three things to know:
1. Cigna Ventures is the health insurer's venture capital fund that partners with healthcare organizations to accelerate innovation and growth.
2. Arcadia focuses on population health management and specializes in data aggregation, analytics and workflow software for value-based care.
3. Cigna Ventures' investment will support Arcadia's analytics technology and software, which helps healthcare organizations use their data for value-based care models.
"Cigna has a long history of partnering with innovative companies who, like us, are focused on making healthcare affordable, predictable and simple and improving health and well-being outcomes," said Tom Richards, global lead of strategy and business development at Cigna Ventures. "Arcadia not only shares that vision, but with our investment and partnership, can bring even more resources and tools to healthcare professionals – enhancing patient care and furthering the adoption of value-based care models."