The series B round was led by Navigy Holdings, and included Dan Rose, Facebook’s vice president of partnerships, and Audax Board member Jack Rowe, who was also Aetna’s former chief executive and chairman.
Audax’s main product, called Zensey, is a digital app allowing patients to track their health progress, participate in wellness programs, and compete with each other to meet health goals. Users might, for instance, use the app to count the number of steps they take in a day, charting their progress on Zensey’s virtual track.
“[W]e are seeing an escalating demand for a platform that not only rewards members but also inspires them to lead healthier lives,” Grant Verstandig, Audax’s founder and chief executive, said in a statement.
The start-up’s partners include healthcare providers and insurers, such as Cigna and ValueOptions.
The new funding will be directed toward expanding Audax’s mobile and engineering teams — both in Washington and San Francisco — as well as product development and strategic partnerships with health insurers and providers.
Audax, which has raised more than $35 million in funding from corporate partners such as Cigna, is backed by New Leaf
Date: August 29, 2013