Sempre Health Raises $8M Series A to Improve Access to Medications across the US
SAN FRANCISCO, Aug. 29, 2018 /PRNewswire/ -- Sempre Health, the leading solution for behavior-based healthcare pricing, today announced the closing of its $8M series A financing. The funding round was led by Rethink Impact with participation from Social Capital and others. Proceeds will be used to further build out Sempre's two-sided network of payers and pharma manufacturers. Unlike traditional coupons and vouchers, Sempre works with multiple healthcare stakeholders to dynamically adjust a patient's co-payment based on individual adherence and behavior, seamlessly at the point of fill.
Sempre Health's innovative and dynamic discount programs enable health plans to financially align members with broader clinical priorities, by allowing them to pay less when they take responsible actions, such as filling their prescriptions on time. Members are empowered to drive their own costs down over time using their behavior as a lever. Sempre allows health plans to select the medicines to make available. This means every Sempre program is consistent with formulary design and tied to reductions in the overall cost of care.
Earlier this year, Sempre announced its partnership with Novo Nordisk to bring dynamic discounts and engagement to diabetes patients across the country. Sempre will have more than 15 pharma manufacturer and payer partners by Q4'18.
"We aim to build a world where healthcare benefits are individualized and responsive. Everyone should be able to share in the savings they generate for the healthcare system," said Anurati Mathur, CEO Sempre Health. "Our goal is to provide improved adherence, increased engagement and an easy and effective intervention, fundamentally changing medication affordability and access."
"We are incredibly excited to invest in Sempre Health as it uses its core technology to tackle the nearly $300B in hospitalizations and excess healthcare spend stemming from medication nonadherence," said Jenny Abramson, Founder & Managing Partner of Rethink Impact, the largest US-based impact venture capital firm investing in female entrepreneurs. "Sempre's innovative approach to engagement, built upon multi-year pharmaceutical and health insurance partnerships, has already been shown to have a dramatic impact on drug adherence," added Rethink Impact Partner Heidi Patel.
"We're excited to continue to support Sempre in their mission to make essential medicine more affordable," said Ashley Carroll, Partner at Social Capital. "It's been amazing to watch this team evolve from two founders with a big idea to a fast-growing company with a product that's already improving the lives of thousands of patients."
About Sempre Health:
Founded in 2015, Sempre Health designs point-of-sale dynamic discounts and SMS-based engagement to incentivize healthy behaviors. Today, we work with health plans and pharma manufacturers to fundamentally change medication affordability and access across the US. For more information visit: www.semprehealth.com