West Conshohocken, Pennsylvania-based chronic care app developer CareCam Health Systems received a strategic investment from Independence Blue Cross Center for Health Care Innovation. CareCam has already raised at least $12.4 million to date.
CareCam raised $2.4 million late last year, according to a filing with the SEC in November. Given the timing, it is likely the Independence Blue Cross investment made up all or part of that round, which the filing notes had one investor. We’ll update with more information once the company responds to our request for additional details.
Update: CareCam confirmed to MobiHealthNews that the $2.4 million funding in November was from Independence Blue Cross.
Independence Blue Cross launched its Center for Health Care Innovation in February 2014. The Center for Health Care Innovation’s initiatives include investing in startups and partnering with universities.
Independence Blue Cross plans to work with CareCam to develop programs that aim to improve the care of people with chronic health conditions. CareCam’s initial rollout with Independence is focused on supporting members with diabetes and asthma. Keep reading>>