Dealflow | May 25, 2018

CareZone secures $50 million for chronic health condition management

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, May 25 – Half of American adults have at least one chronic health condition, and a quarter suffer from two or more. The founders of CareZone have developed an app that helps patients manage multiple-medication regimens that includes reminders, product suggestions and other services.

  • Series D… The company raised $50 million from NEA, McKesson Ventures and Salesforce CEO Marc Benioff. Total funding for CareZone is now $150 million.
  • Smartphone… Users scan medication labels and receive prompts to take their pills and refill prescriptions. The app can recommend insurance and offers free delivery.

Company officials say they started CareZone because family members were having trouble managing their health conditions. “It is easy to buy things online or reserve a scooter or watch a movie, it is a lot more complicated to take care of yourself or a loved one,” said founder Jonathan Schwartz. Chronic diseases will account for 57% of the global disease burden by 2020, according to the World Health Organization.