Having barely opened its doors, Solera Health Inc. has received $3 million in funding from Blue Cross Blue Shield Venture Partners Fund II.
The Phoenix-based health care startup will use the money to scale operations and advance its technology platform, which connects a national network of local community organizations and digital solutions for chronic disease prevention programs, including diabetes.
Brenda Schmidt, founder and CEO of Solera, said her goal is to change the way diabetes prevention programs are delivered.
With eight employees, Schmidt said she’ll hire another 22 within the year, mainly in operations and technology.
“But we can scale our model without scaling the organization,” she said. “The delivery network can grow. We contract with organizations. We don’t hire people to deliver the program.”
Renee Hunt, spokeswoman for Blue Cross Blue Shield of Arizona, said the nonprofit BCBS plan is always looking for new opportunities, ideas and partnerships aligned with its strategy.
“This includes potential investments with companies promoting efficiency, lowering costs and providing more consumer options in healthcare,” she said.
As a licensee of the Blue Cross Blue Shield Association, BCBS of Arizona joined 21 other Blue Plans in the BCBS venture fund in 2011, investing in emerging companies and fostering their strategies to transform the health care industry, Hunt said.
Solera is moving into Carline Center, an adaptive reuse project on the northeast corner of Roosevelt Street and 11th Avenue west of downtown Phoenix. The building, which was built in the late 1920s, pays homage to the streetcar line that once ran through the neighborhood.
The 5,000-square-foot property has been vacant for more than five years. An open house and ribbon cutting is set for Nov. 5 from 5 to 8 p.m. at Carline Center, 1018 W. Roosevelt St.
The project — which encompasses two houses — was redeveloped by Ashley Harder, president of Harder Development.
Date: November 4, 2015