Venture Capital News: Covera Health Raises $8.5M Series A
NEW YORK, NY, Covera Health announced today that it has closed $8.5 million in Series A funding.
Covera Health, the country's leading provider of analytics-based programs to reduce medical misdiagnoses and improve quality of care, announced today that it has closed $8.5 million in Series A funding.
The financing was led by Equity Group Investments (EGI), the private investment firm led by Sam Zell. "EGI, with their flexible capital base and strong sense of engagement, is an ideal partner for us," said Ron Vianu, CEO, Covera Health.
The round also included select strategic and individual investors.
Covera Health plans to use the proceeds to deepen existing clinical partnerships, invest heavily in its research and development efforts around quality analytics, as well as establish new relationships with various clinical and data partners. In addition, the Company also intends to use the capital to support several growth initiatives, accelerate product development, and further build out its data science, engineering, and sales teams.
"An accurate diagnosis is fundamentally important for formulating the right treatment plan. That is why we started in radiology. All too often, patients are misdiagnosed at this pivotal juncture in their care, hindering their ability to get better," said Ron Vianu. "Our approach to improving outcomes is premised upon partnering with providers to better understand how to measure and deliver quality care, ensuring each and every patient has the best opportunity for recovery," added Vianu.
About Covera Health
Covera Health is on a mission to improve patient care by partnering with doctors to advance how quality care is defined, measured, and delivered. Starting in radiology, Covera Health leverages advanced data analytics to build Radiology Centers of Excellence Programs for employers, health plans, and other healthcare entities to reduce misdiagnoses, improve patient outcomes, and reduce medical costs. Covera Health's solution is deployed in almost every state across the U.S. and leveraged by over one million covered lives. For more information, please visit www.coverahealth.com.
About Equity Group Investments
Equity Group Investments (EGI) is the private investment firm founded by Sam Zell 50 years ago. Based in Chicago, EGI invests opportunistically across industries and geographies and throughout the capital structure. Current portfolio investments are in energy, waste, manufacturing, transportation and logistics, media, healthcare, insurance, and real estate. EGI provides flexible capital and employs an engaged ownership approach to maximize the potential of its investments. For more information, visit egizell.com.
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