Fast-growing health tech startup Aledade Inc., which helps physician practices cut costs and build accountable care organizations, has raised another $23 million, according to public filings.
The fresh capital includes $15 million from Meritech Capital Partners, a Palto Alto, California-based venture capital firm that invests in late-stage tech companies leading their categories, like Facebook and Salesforce.
“Excited to welcome Meritech Capital to the Aledade family,” Aledade founder and CEO Dr. Farzad Mostashari said in a statement. “Their $15M investment (a continuation of our round earlier this year), knowledge, and expertise will help us build on the successes of our Aledade ACOs in lowering costs and improving patient health.”
Mostashari shared the news in a tweet Wednesday. He was not immediately available for an interview, according to a spokesman.
The latest infusion is just a portion of substantial funding secured by the 4-year-old Bethesda company, and follows…Read the full story from the Washington Business Journal.