Soda Health, a Bentonville, AR-based health tech company enhancing the use of benefit dollars to improve health outcomes and reduce inequities, raised $50M in Series B funding.
The round was led by General Catalyst, with additional capital from Humana CEO, Bruce Broussard, and participation from existing investors Lightspeed Venture Partners, Define Ventures, Qiming Venture Partners USA, and SVB Capital. Caitlin Donovan of General Catalyst has joined Soda Health’s board of directors.
The company intends to use the funds to broaden its offering of data products and services, and expand its support to new benefit categories.
Led by CEO Robby Knight, Soda Health provides a smart benefits technology platform, which connects people to products and services they need, when they need them, so they can live healthier lives. It partners nationwide with health plans and retailers to deliver expansive benefits for essentials such as healthy foods, OTC medications, or transportation.
The platform delivers benefits for all through efficient and personalized offerings, including:
- Members receive a simplified benefits experience with Smart Benefits and a consumer-grade member experience.
- Health plans can design, launch, and scale benefit programs supported by a vast retail network and analytics tools to enhance member experience, and optimize utilization.
- Retailers become a vital part of health care delivery by leveraging their weekly touch-points with members to drive high ROI benefit spend and motivate the right behaviors via their integrated pharmacies and registered dieticians.
FinSMEs
04/12/2024