Ooda Health, a San Francisco, CA- and Salt Lake City, UT-based company focused on removing waste and inefficiency from healthcare administration, completed a $40.5m Series A funding round.
The round was led by Oak HC/FT and DFJ.
The company will use the capital to further develop its product platform, expand its team, and grow its payer and provider relationships.
Led by Giovanni Colella, MD – Co-founder and CEO, Seth Cohen – Co-founder, President, and COO, and Usama Fayyad, PhD – Co-founder and CTO, Ooda Health aims to transform the healthcare payment system by enabling collaborative, real-time interactions between providers (physicians, hospitals), payers (insurance companies), and members (patients).
The company’s strategic partners include Anthem, Blue Cross Blue Shield of Arizona, Blue Shield of California, Zaffre Investments, a subsidiary of Blue Cross Blue Shield of Massachusetts, Dignity Health, and Hill Physicians.