Cigna Ventures Invests in Buoy Health and RecoveryOne

Buoy Health, makers of an algorithm-powered chatbot app that allows users to check health symptoms, announced an additional $5 million investment from Cigna Ventures, a corporate venture arm of Cigna Corporation, bringing its Series B funding round to $20 million.

Buoy Health has raised a total of $27 million in VC funding since 2017.

The AI-powered Buoy Health chatbot provides users with real-time intelligent care recommendations and accurate analysis of their symptoms.

“Our capabilities, powered by advanced machine learning and granular data, resemble exchanges an individual would have with a clinician,” said Dr. Andrew Le, CEO and Co-Founder of Buoy Health, in a company press release. “Our first-step virtual option greatly aligns with Cigna’s focus on creating peace of mind – improving diagnoses of symptoms from the moment individuals get sick and helping facilitate more informed discussions with their clinicians.”

Cigna Ventures also led a new $12 million funding round in RecoveryOne, which provides personalized digital therapy programs and live coaching to accelerate recovery from musculoskeletal conditions.

“Musculoskeletal conditions are both common and costly,” said Mark Luck Olson, CEO of RecoveryOne, in a company press release. “We are excited to work with Cigna, one of the largest and most forward-thinking global health services companies, to leverage our digital solutions in ways that will drive greater adherence, accelerate recovery, improve productivity and reduce costs for individuals.”

Cigna has invested over $250 million in several digital health companies, including Omada Health, MDLIVE, Cricket Health, GNS Healthcare, Prognos (formerly Medivo), Arcadia, Contessa Health, and MDLIVE.

“Cigna is squarely focused on bringing the highest value solutions to our customers, which includes optimizing how they connect to and receive quality care, in a convenient way that meets their lifestyles,” said Tom Richards, global lead, strategy and business development at Cigna, in a company press release. “Our deep partnerships with digital health companies like Buoy Health and RecoveryOne accelerate how we deliver on that promise. They, like us, are relentlessly pursuing bold new opportunities to make health care anywhere and everywhere a reality for our customers.”