Healthify, a NYC-based company integrating the social determinants of health (SDoH) in the era of value-based healthcare, raised $16m in Series B financing.
The round, which has raised over $28m through investments, grants, and awards to date, was led by SV Health Investors and existing investors like BlueCross BlueShield Venture Partners (BCBSVP). In conjunction with the funding, SV Health Investors Managing Partner Michael Balmuth joined the Healthify board of directors along with SV Health Investors Vice President Carl Culicchia.
The company intends to use the funds to deepen relationships with current clients and drive new growth in additional locales, like Kansas City, Phoenix, Cincinnati, and more.
Led by CEO Manik Bhat, Healthify offers access to constructed accountable networks of social service organizations. Each network is geo-targeted and intervention-focused to ensure that the needs of each community are addressed. To support its networks, the company provides a SDoH referral platform that enables collaboration between network partners. With its interoperable platform, healthcare and social service organizations can track social needs, coordinate referrals, and measure the success of interventions all within one central system.
Healthify also works directly with social service organizations to develop and formalize contracts, ensuring accountability across its networks.
To date, the company has worked with over 40 enterprise healthcare organizations and thousands of social service organizations.