Cricket Health – a tech-enabled provider of integrated kidney care that connects advanced-stage chronic kidney disease patients to engaging content and a network of healthcare professionals, peers, and mentors – closed an $83.5 million Series B funding round led by Valtruis.
The round also includes investment from Oak HC/FT, Cigna Ventures, K2 HealthVentures, and a strategic investment from Blue Shield of California.
Cricket Health provides technology-enabled membership-based value-based kidney care with a clinically proven approach to managing chronic kidney disease and end-stage kidney disease.
The company’s members have access to educational resources, peer support, and a multidisciplinary care team in person, by telephone, and virtually.
“Kidney disease has been a tremendous problem for our health care system due to its complexity, high cost of care, and the lack of early diagnosis intervention. Cricket Health’s approach of marrying cutting edge analytics with dedicated care teams supported by a digital health platform is achieving outstanding clinical outcomes,” said Tracy Bahl, Managing Partner at Valtruis, which is focused on investing in companies with value-based and health-at-home models. “We are excited to help Cricket Health continue to expand its reach and positively impact the lives of even more Americans with kidney disease.”
With the new funding, Cricket Health has raised a total of more than $120 million in equity and debt financing to date. Cricket Health said: the latest funding round will enable its expansion to support the growing demand for its proven care model for people with kidney disease across the U.S.
“In the year that we have been working with Cricket Health, our members with chronic kidney disease have received comprehensive care from the comfort of their homes, resulting in better health outcomes,” said Dr. Susan Fleischman, interim Chief Medical Officer of Blue Shield of California. “Cricket Health’s virtual platform has helped connect patients with clinical and peer support, making them feel more educated about their health and involved in their care plans, allowing them to live their best lives.”
Digital Health companies raised $15 billion in the first half (1H) of 2021. Funding activity increased by 138% during 1H 2021, compared to $6.3 billion raised in 1H 2020.