SafeRide Health Continues Growth in Improving Access to Life-Sustaining Care with Series C Funding
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SAN ANTONIO, October 5, 2023-- SafeRide Health— the leading technology-first platform connecting patients of the nation’s largest Medicaid, Medicare Advantage, and provider programs to life sustaining care— announced today Series C funding to further scale its non-emergency medical transportation (NEMT) technology and services, led by Sands Capital.
Additional investors include healthcare leaders like Healthworx, the investment and innovation arm of CareFirst BlueCross BlueShield (CareFirst), and SCAN Group, a diversified healthcare company tackling some of the biggest healthcare challenges facing older adults today. They join other industry leaders and early investors in SafeRide Health, including Transform Capital, Seminal Capital (SEMCAP), Hill City Capital, Fry’s Path Capital, Primetime Partners, Fresenius Medical Ventures, Bonfire Ventures, and Meridian Street Capital. Silicon Valley Bank, a division of First Citizens Bank, is expanding their existing credit-relationship alongside this equity raise.
SafeRide’s successful Series C demonstrates strong support for the firm’s vision, technology, and team to disrupt the $10+ billion non-emergency medical transportation (NEMT) market. This investment strengthens SafeRide’s national network, and advances AI and other self-service tools to improve the member experience at every touch point for over 120 million individuals enrolled in Medicare Advantage and Medicaid today.
SafeRide closes a material healthcare gap. Last year, more than one in five adults without access to transportation reported missing necessary, often life sustaining, medical care. Transportation barriers, which disproportionately affect individuals and families with low incomes, can be detrimental to long-term health.
“We are the last mile of healthcare. We believe every patient, everywhere, should have access to critical and life-sustaining care. We serve urban and rural markets from coast to coast and span solutions from gas cards through rideshare, NEMT, and even stretcher vehicles with the sole goal of meeting a member on their terms and going on the care journey with them,” said Robbins Schrader, CEO and Co-founder of SafeRide Health. “In partnership with the nation’s leading healthcare organizations, we can ensure members can get to the right care, at the right time.”
“SafeRide represents the rare combination of both a compassionate and cutting-edge technology provider. They’re at the forefront of transforming access to care for our nation’s most vulnerable populations,” said Michael Graninger, Managing Partner, at Sands Capital. “Every stakeholder within the NEMT ecosystem gains from their partnership with SafeRide, which continues to improve care in our communities by reducing barriers to transportation.”
“SafeRide’s platform meets the needs of CareFirst members on an individual-basis rather than a one-size-fits-all approach,” said Emily Durfee, Investor at Healthworx. “Thoughtfully meeting social needs, like transportation, means members are more likely to engage with their care plan and may achieve better health outcomes.”
About SafeRide Health
SafeRide Health is a technology and services company dedicated to reducing barriers to care by improving the delivery of non-emergency medical transportation (NEMT) to people nationwide. SafeRide Health leverages proprietary technology and a nationwide network of vetted transportation providers to elevate human dimensions of care and close the gap between need and access for the nation’s most vulnerable populations. SafeRide’s scalable and intuitive platform gives payers and health systems a more intelligent way to deliver cost-effective, on-demand transportation that connects health plan members to critical healthcare services. SafeRide serves the country’s largest Medicare Advantage, Medicaid, and provider programs.
About Sands Capital
Sands Capital is an active, long-term investor in leading innovative businesses globally. Their approach combines analytical rigor and creative thinking to identify high-quality growth businesses that are creating the future. Through an integrated investment platform spanning venture capital, private growth equity and public growth equity, they provide growth capital solutions to institutions and fund sponsors in more than 40 countries. Sands Capital is an independent, staff-owned firm founded in 1992 with offices in the Washington, D.C. area, San Francisco, London, and Singapore.
Healthworx operates at the intersection of healthcare and innovation by creating, co-creating and investing in companies that are improving healthcare quality, accessibility, affordability and equity. As the innovation and investment arm of CareFirst BlueCross BlueShield, Healthworx envisions a healthier future for all people by changing the way health works.