New York-based Unite Us raised its largest funding to date, a $150 million Series C round, to value the technology company at more than $1.6 billion.
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The company that creates coordinated health care networks, was founded in 2013 by military veterans Dan Brillman and Taylor Justice to interconnect providers around each patient, integrating the social determinants of health, or how a person’s environment affects their health, into patient care. Providers can receive and send external referrals, as well as report all tangible outcomes, to measure impact, improve health and track outcomes at scale.
“When I met Taylor, we were tackling the same problem from different angles, me from the health and social service side, and Taylor was doing this on a spreadsheet,” Brillman told Crunchbase News. “Our goal was to make sure people got the services they needed.”
ICONIQ Capital led the Series C funding and was joined by Emerson Collective , Optum Ventures and Transformation Capital and existing investors, Define Ventures, Salesforce Ventures 1 and Town Hall Ventures, as well as several health care partners. The new capital gives Unite Us $195.3 million in total funding, according to Crunchbase data. The company last raised $35 million in Series B funding in 2019, led by Oak HC/FT.
Claudine Emeott, senior director of impact investing at Salesforce Ventures, said in an interview that social determinants of health care is a growing problem that everyone recognizes, but the industry itself continues to operate with paper-based tools and resources. This led her to do a deep dive into the sector.
“We invest in companies solving big problems that can also become market opportunities,” Emeott said. “Knowing these are critical to patient care, but have traditionally been poorly managed, Unite Us’ solution in addressing gaps in health equity keeps patients at the center and provides feedback, effectively closing the loop with all of the people involved.”
At the time of the Series B, Unite Us was deploying software in approximately 16 states and has grown to operate now in 42 states, Brillman said.
“That is a testament to the software and solution,” he added. “We now have more than 16 new statewide contracts, and used to be just in New York City, but now we are across the state.”
Unite Us intends to invest the new capital into community-based organizations to bring social care to the same priority level as medical care, expand into more areas by 2023, as well as further develop its Unite Us Insights and Unite Us Payments tools.
In addition, the new round enables the company to stay years ahead of the fast-moving market, Brillman said. U.S. health care spending grew 4.6 percent in 2019, reaching $3.8 trillion or $11,582 per person, according to the Centers for Medicare & Medicaid Services.
As health care in this country shifts to value-based care, Unite Us is looking to treat the whole person, he added.
“Given our previous growth, impact and testimonials, we felt it was the right time to accelerate our growth,” Brillman said. “We should be everywhere in the next two years, and we are investing in new products, such as insights and in the community, so we can support the gaps in care and provide the right data.”
Illustration: Dom Guzman
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