Collective Health, a San Francisco, CA-based health technology company, raised $205m in funding.
The round was led by the SoftBank Vision Fund.
The company intends to use the funds to accelerate adoption of its enterprise healthcare platform with employers across the U.S., deepen strategic partnerships across the industry and advance product development and technology capabilities.
Led by Ali Diab, Co-founder and CEO, Collective Health provides an integrated technology solution for employers to manage healthcare insurance. It has more than 200,000 members and over 45 enterprise clients, including Driscoll’s, Pinterest, Red Bull, Restoration Hardware, Zendesk and more. The company now plans to add new partnerships to its list of 80 integrated health partners on its open platform. These include new local and national medical PPO networks, provider systems serving the commercial market, and an increasing number of digital health solutions that allow integration for both employer reporting and member engagement.
Founded in 2013, the company has additional offices in Chicago, IL and Lehi, UT. Beyond the SoftBank Vision Fund, Collective Health is backed by DFJ Growth, PSP Investments, NEA, GV, G Squared, Founders Fund, Maverick Ventures, Mubadala Ventures, Sun Life, and other investors.