Solace Secures Major Funding to Transform Healthcare Navigation

Healthcare advocates use innovative technology to assist patients.

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News Summary

Solace, a healthcare navigation platform, has successfully raised $60 million in Series B funding to expand its services and improve patient advocacy. With participation from investors like Menlo Ventures and SignalFire, Solace aims to enhance the accessibility of healthcare resources for millions across the nation. The funds will be used to increase the number of trained advocates and develop innovative technological solutions to better support patients in navigating their healthcare journeys.

Solace Secures Major Funding to Transform Healthcare Navigation

Great news is circling the healthcare world! Solace, a pioneering healthcare navigation platform, has just raised a whopping $60 million in Series B funding. This thrilling news is a big leap for the Redwood City-based startup, which is on a mission to make healthcare advocacy more accessible across the nation.

Funding Journey

The latest funding round was spearheaded by Menlo Ventures, with contributions from familiar faces like inspired Capital, Torch Capital, and Craft Ventures. Adding even more excitement to the mix is the entry of a fresh player in the investment world, SignalFire. With a total funding pot now at $21 million, Solace is gearing up for an expansion that could affect millions.

Finding Your Healthcare Advocate

So how does Solace work its magic? The platform matches patients with specially trained advocates who guide them through their healthcare journeys. Whether it’s dealing with a new diagnosis, tracking down the right doctors, or managing care coordination, these advocates are there to ensure that patients feel supported every step of the way.

A Network of Experts

What’s truly special about Solace is the caliber of its advocates. The team includes former doctors, nurses, and pharmacists, all equipped to provide personalized support for a wide range of health conditions. With their expertise, patients can benefit from a more tailored and empathetic approach to their healthcare needs.

Accessible to Millions

One of the best parts? The services offered by Solace are now available to approximately 65 million Americans enrolled in Medicare plans. This means that many individuals, regardless of their healthcare challenges, can tap into invaluable advocacy services to help navigate the often-complex healthcare terrain.

Innovation and Technology

To enhance the communication between advocates and patients, Solace has developed its own electronic health record (EHR) system. This cutting-edge technology allows advocates to seamlessly update and access patient medical records, ensuring that everyone involved is always on the same page.

Looking Ahead

With the fresh injection of funds, Solace plans to ramp up its number of healthcare advocates and develop its services further. The goal? To redefine what healthcare advocacy looks like and make it a structural necessity within the industry. In fact, the company is also eyeing future opportunities to reach individuals on Medicaid and those with private insurance plans, broadening its impact even further.

Satisfaction Guaranteed

Feedback from patients has been overwhelmingly positive. With an eye-popping Net Promoter Score (NPS) of 96, it’s clear that Solace’s matching algorithm is doing something right! Patients appreciate the assistance they’re receiving as they face an array of health issues, from managing chronic conditions to navigating care transitions.

Making Advocacy Accessible

One key area Solace recognizes is the need to bridge gaps in health literacy, especially among lower-income populations. By focusing on accessibility and understanding, the aim is to make sure that more people can benefit from advocacy services without feeling overwhelmed by the healthcare system’s complexities.

The Road Ahead

As Solace forges its path in the healthcare landscape, it remains steadfast in its commitment to improving health outcomes and tackling the challenges that arise in healthcare navigation. Patients can look forward to an even brighter future in healthcare advocacy, thanks to the hard work and dedication of the team at Solace.

So, whether you’re facing a new health issue or simply want to navigate the healthcare system more smoothly, keep an eye on what Solace has to offer. With its passionate advocates and innovative approach, healthcare just got a little easier!