Digital health company Praia Health has secured $20m in a Series A financing round, led by venture capital company Frist Cressey Ventures.
Leveraging the latest funding, Praia Health aims to enhance the at-scale delivery of personalised health solutions and enable digital transformation within health systems.
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The oversubscribed funding round also saw participation from Epsilon Health Investors, SignalFire, and Providence Ventures.
Praia Health is led by Justin Dearborn, who has been an executive-in-residence at the Providence Digital Innovation Group since September 2023.
The platform is the fourth technology incubated under the leadership of Providence’s chief strategy and digital officer Sara Vaezy.
Following the latest investment round, Sara Vaezy, Frist Cressey partner Navid Farzad, and SignalFire partner Yuanling Yuan have joined Dearborn on Praia Health’s board of directors.
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By GlobalDataVaezy said: “The Providence incubation model has some incredible advantages—enabling us to prove out the technology in a real-world setting and work alongside other health systems and technology partners during the incubation process.”
Praia Health offers a platform that specialises in low-code ecosystem enablement and allows for the integration of third-party consumer solutions into health systems’ digital experiences.
This platform is known for its secure data management capabilities, which connect solutions to electronic medical records and other data sources within health systems.
Its ecosystem includes 17 digital health partners, such as Atlas Health, Cedar, and clinical integration partner Xealth, which brings an additional 50 digital health partners into the fold.
The Praia Health Consumer Platform has recently been licenced by Community Health Network, an Indiana-based health system, which is planning to implement it in 2024.
The platform’s identity and personalisation technology have enhanced Providence’s digital experiences since January 2022, supporting more than 3.5 million user accounts.
