Henrico County-based health care management company AllyAlign Health announced Tuesday that it has completed a $10 million capital raise led by McKesson Ventures.
The new funding should accelerate growth in new markets, the company said.
Existing investors in the company, Heritage Healthcare Innovation Fund, Health Enterprise Partners and the Ziegler LinkAge Fund II, also participated in the financing.
The latest investment brings the total capital raised to more than $41 million, the company said.
AllyAlign Health, which manages health plans in 17 states with more than 10,000 members, was founded by CEO Will Saunders. The company launched its first health plan in 2016.
“Partnering with McKesson Ventures will speed up investment in our technology platform and infrastructure and will help us expand partnerships with valued long-term care providers in multiple markets,” Saunders said in a statement.
The funding will support the company’s growth into assisted living facilities, memory care facilities and independent living facilities, the announcement said.
“We are excited to support (AllyAlign Health’s) rapid growth as they pioneer a better model for senior care that aligns the incentives of long-term care providers, patients, their families and Medicare,” said Dave Schulte, managing director of McKesson Ventures, in a statement.
AllyAlign Health’s main offices are located at 10900 Nuckols Road in western Henrico.