Wider Circle, a community health startup based in Redwood City, has raised $38 million in Series B funding to connect neighbors for better health.
The round was led by AmeriHealth Caritas with the participation of existing investors like Blue Venture Fund and Chicago Ventures. The new capital will allow the startup to improve its national infrastructure and technology to support its expansion plans, which include the hiring of new team members. Paul A. Tufano, Chairman and CEO of AmeriHealth Caritas, said about the round:
“We are very excited to partner with Wider Circle. Our two companies know the power and impact that social networks can have not only on health, but to elevate life outcomes and create mobility out of poverty. AmeriHealth Caritas was an early pioneer in addressing the health outcomes of people who are challenged by poverty and disability. Today we know the future must focus on moving from wellness to resilience, and that neighborhood-level social support is a key foundation.”
Wider Circle was founded in 2015 to integrate support and services at the community level, creating a more effective system that enables people of all ages to improve their health and independence. Ever since, the startup has seen more than 320 communities access the United States integrate the program. Darin Buxbaum, president and chief operating officer of Wider Circle, said about this communal approach to health:
“Empowering peer-to-peer social support networks can overcome systemic economic and health inequities. With the support of AmeriHealth Caritas’s new Social Determinants of Life, Blue Venture Fund and others Wider Circle is well positioned to extend our proven hyper-local engagement model to improve health outcomes in communities nationwide.”
While these peer-to-peer networks have traditionally been associated with individuals of old age, reports show that less than 20% of a person’s health is related to factors that can be affected by clinical care. With more than 80% depending on social determinants, the community health startup believes it can revolutionize the healthcare industry by focusing on the social aspect.