Socially Determined Closes Series A Round, Raises Over $11M
January 21, 2020
WASHINGTON (January 21, 2020) – Washington, DC-based healthcare technology startup Socially Determined announced today that it has closed its Series A investment round, raising a total of $11.1M. Healthworx, the corporate investment and innovation arm of CareFirst BlueCross BlueShield, and Lafayette General Health, joined Ziegler Link-Age Funds, ProMedica, 3M, OSF HealthCare, LRVHealth and existing investors to support the company’s growth.
Socially Determined is a healthcare analytics company focused entirely on the science and measurement of the impact of social determinants of health (SDOH). SocialScape, the company’s flagship analytics platform, quantifies social risk and delivers unprecedented insights into how SDOH impact utilization, cost, and outcomes.
“It was important to us that our initial institutional round represented strategic investors and leaders across the healthcare industry,” stated Trenor Williams, MD, CEO and co-founder of Socially Determined. “We are pleased that CareFirst BlueCross BlueShield, a leading healthcare organization, and Lafayette General Health, an innovative provider system, joined the round to support our work to improve the health of our communities.”
“Our investment in Socially Determined will help advance our mission to improve healthcare quality and increase access to care for our members,” added Ricardo Johnson, Vice President of Healthworx. “The company’s focus on measuring the impact of social determinants of health will play a significant role in transforming our healthcare landscape.”
The capital will be used to further develop and scale the SocialScape platform, invest in top talent, and build out sector-specific sales and marketing programs to support Socially Determined’s position in the market as a leading SDOH analytics provider.
Along with Williams, Ryan Bosch, MD, and Anthony Beverina founded Socially Determined in 2017.
About Socially Determined
Socially Determined is a Washington, DC-based healthcare technology and analytics startup focused on measuring the impact of the social determinants of health. SocialScape is the industry’s first analytics platform to quantify and visualize social risk using the largest curated repository of SDOH data in the nation. The technology is supported by a team of experts who provide SDOH program evaluation and measurement, offer deep cohort analysis, and guide clients through analytic insights to grow their lines of business into new geographies and risk arrangements.
Socially Determined is headquartered in Washington, DC and operates a second office in Blacksburg, VA. Learn more at www.SociallyDetermined.com.
Read the full press release here: https://www.prnewswire.com/news-releases/socially-determined-closes-series-a-round-raises-over-11m-300990703.html