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United States : Sharecare Closes New Investment, Brings Total Funding to More Than $300 Million.

Sharecare, the award-winning digital health company founded by industry pioneer Jeff Arnold and Dr. Mehmet Oz, announced that it has received an investment from global alternative investment firm, Summit Partners. Sharecare will use the debt capital to fund new capabilities and acquire talent to support the aggressive growth trajectory of both the company and its platform, where people can manage all their health in one place.

With 11 acquisitions in six years, we have been thoughtful and opportunistic in scaling our rapid growth while adapting to changing market dynamics and needs and we couldnt have done that without the support of our incredible investors, said Justin Ferrero, president of Sharecare. With this latest investment, we are ideally positioned to pursue the opportunities and acquisitions that will fuel the next phase of Sharecares growth.

Founded in 2010, Sharecares comprehensive platform leverages the power and ubiquity of the smartphone to provide people with access to the care they need, when they need it. Whether someones path to Sharecare originates as an employee, health plan member, patient, self-motivated individual or caregiver, the Sharecare platform simultaneously focuses on an individuals holistic health needs to drive meaningful daily engagement, while aggregating a critical mass of behavioral data. Artificial intelligence is applied to that data in real-time to more accurately personalize recommendations, and predict and influence positive outcomes for each individual, which enables anyone to simplify, engage with and manage their health, all in one place.

The reach of Sharecares investors extends from the living room to doctors exam rooms and into the workplace, alike. Including the debt capital raised in this most recent round, Sharecares strategic investors include hospitals, health care investment firms and health plans, in particular, HCA (NYSE:HCA), Trinity Health, the Heritage Healthcare Innovation Fund and Hawaii Medical Service Association (HMSA); media companies Discovery Communications, Harpo Productions and Sony Pictures Television; high growth technology investment firms such as Claritas Capital; noted crossover fund Wellington Management; Wells Fargo; and Swiss Re, one of the worlds largest reinsurance providers. In 2017 alone, Sharecare has raised more than $100 million in new funding; and more than $300 million in total capital since its founding in 2010.

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Publication:Mena Report
Date:Jun 3, 2017
Words:374
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