Buoy Health, makers of an AI-powered chatbot app that allows users to check health symptoms, announced the completion of a $37.5 million Series C funding round.
Cigna Ventures and Humana led the funding round with participation from Optum Ventures, WR Hambrecht + Co, and Trustbridge Partners.
Founded in 2014, Buoy Health has raised $66.5 million to date. The latest funding announcement comes more than ten months after a $20 million Series B funding round competition in January 2020.
Buoy Health plans to use the latest proceeds to build out its IP for artificial intelligence and other technologies and grow its team. The funds also advance clinical and insurance-based navigation capabilities to help move the individual to a more consumer-friendly healthcare journey, the company said.
“Buoy has proven that AI can help better connect the health system to enable a more consumer-friendly healthcare experience for patients. We are excited to support Buoy as it continues to build out its differentiated AI-powered navigation platform,” said Laura Veroneau, healthcare investor, Optum Ventures.
Buoy Health also launched Back With Care, an employer platform that provides health resource navigation, risk assessment, and personalized guidance to transition back into the workplace for employers and employees across the country.
“Buoy’s ‘first-step’ digital actions that triage symptoms and provide the next steps for care do just that. Since the start of COVID-19, we have been able to support up to 140,000 COVID assessments and look forward to continuing our partnership to help employers manage safe returns to the office,” said Tom Richards, global lead, strategy, and business development at Cigna.
Digital Health Apps have raised almost $1 billion in the first nine months of 2020, according to the latest Mercom funding report. Recently, Nordic AI-powered digital therapeutics app Sidekick Health raised $20 million in a Series A financing round. Learn More