Cityblock Health, a Brooklyn, N.Y.-based healthcare provider for lower-income communities, closed a $160m in Series C funding round at a valuation of over $1 billion.
The round, which brings total equity funding to $300m, was led by new investor General Catalyst, with participation from crossover investor Wellington Management and support from major existing investors, including Kinnevik AB, Maverick Ventures, Thrive Capital, Redpoint Ventures, and more.
The company intends to use the funds for national expansion in caring for Medicaid and dually-eligible communities, to attract and onboard talent across its product, engineering, data science, clinical, and business operations, to launch new service lines, and to continue investing in its proprietary technology platform, Commons.
Launched in 2017 out of Alphabet’s Sidewalk Labs and anchored in a first partnership with EmblemHealth and led by Iyah Romm, CEO, and Dr. Toyin Ajayi, Chief Health Officer, Cityblock is a value-based healthcare provider focused on improving healthcare outcomes for marginalized communities. They provide members with primary care, behavioral health, and services to address the social determinants of health, virtually and in-person.
Integrated care teams include doctors, nurses, advanced practice clinicians, behavioral health specialists, licensed clinical social workers, and community health partners, and leverage close partnerships with existing healthcare providers and community-based social services organizations.
They provide care to 70,000 members in New York, Connecticut, Massachusetts, and Washington, DC.
FinSMEs
10/12/2020