Cohere Health raises additional $10 Million in Series A funding to provide better healthcare quality and improve patients’ experience and outcomes

A recent JAMA article estimated that 25% of healthcare spending is waste due to administrative complexity, failure of care coordination, and low-value care. According to JAMA, the estimated total annual costs of waste were $760 billion to $935 billion, and savings from interventions that address waste were $191 billion to $286 billion.

Enter Cohere Health, a Boston-based emerging digital health startup focused not only on addressing these issues but also on significantly improving the experience of patients, providers, and health plans. Cohere Health is already changing the way patients, physicians, and health plans work together. Its mission is to increase the quality of care delivered; lower the total cost of care, and increase transparency across the patient care journey.

Today, Cohere Health announced it has closed an additional $10 million in funding led by Flare Capital Partners and Define Ventures, bringing the company’s total funding to $20 million. The funding will be used to enhance the company’s scalable CohereNext platform that is built on next-generation cloud and data technologies and provides interoperability to existing healthcare infrastructure as well as the emerging digital health economy.

This Series A extension comes just two months after Cohere Health’s initial $10 million Series A funding, which was also led by Flare Capital Partners with Define Ventures contributing as an investor and partner, as well as participation from a leading national strategic partner.

Founded just a year ago by Siva Namasivayam, Cohere’s digital healthcare collaboration platform and supporting services align patients, physicians, and health plans at the point of diagnosis to expedite physician-approved, evidence-based treatment plans.

“The tragedy of COVID-19 has reinforced that the basic infrastructure supporting healthcare innovation is fundamentally broken. The shift from fee-for-service to value-based-care requires enabling interoperable capabilities to facilitate care around the interests of patients, and as a result, Cohere Health continues to rapidly grow and attract additional investments,” said Siva Namasivayam, CEO and founder of Cohere Health.

“The additional funding will enable us to expand the CohereNext platform to impact more failure points across patient journeys so that physicians can deliver better outcomes and we can continue building our team, which has grown by more than 95 people this year,” Namasivayam added.