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January 14, 2020

Cigna’s $250M venture fund seeds two new startups

Photo | Cigna Cigna's headquarters in Bloomfield.
By Matt Pilon

Cigna’s $250 million venture fund has invested in two digital health companies headquartered in Massachusetts and California, respectively.

Cigna Ventures, an investment fund of Bloomfield health insurer Cigna Corp. that launched in 2018, said it participated in a $20-million Series B funding round for Boston-based Buoy Health and led a recent $12-million funding round for RecoveryOne of Walnut Creek, Calif.

The exact size of Cigna’s stake in the two deals was not disclosed.

Buoy Health uses artificial intelligence to mimic exchanges a patient has with his or her physician. Its technology facilitates personalized care recommendations based on a patient’s symptoms, and follows up as necessary to close any gaps in care, according to Cigna.

RecoveryOne’s app connects patients with musculoskeletal conditions to remote recovery coaches, aiming to improve treatment outcomes.

Cigna Ventures also recently led a $29.5 million funding round for Burlington, Mass.-based Arcadia, which offers a population health management technology platform. 

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