LifeMasters Supported SelfCare Inc., an Irvine, Calif.-based provider of health improvement programs and services, has raised $15 million in new VC funding. Return backers include VantagePoint Venture Partners Saints Capital and Opus Capital. The company had previously raised $44 million since 1996.
LifeMasters Supported SelfCare, Inc., a national leading provider of health improvement programs and services, today announced it has received $15 million in financing from existing investors including VantagePoint Venture Partners, one of its earliest investors, Saints Capital, and Opus Capital. The funding provides LifeMasters with additional financial flexibility to continue to execute on its strategic growth initiatives and expand on its disease management and health improvement programs.
With nearly 14 years of specialized experience, LifeMasters is committed to improving the health of its participants, as well as providing value to its clients. The company's disease management and health improvement programs improve quality of life for people with risk factors and chronic conditions, reduce healthcare cost trends for payors, and provide decision-support tools and information for physicians.
“We invest in companies with the potential to transform their industries and undergo significant growth. As one of the first companies to tackle disease management, LifeMasters has continued to bring to market innovative offerings that have positive impact on the health and quality of life of its participants,” said Annette Bianchi, managing director, VantagePoint Venture Partners.
“We are grateful for the continued support shown to LifeMasters by our existing investors,” said Christobel Selecky, CEO of LifeMasters. “This funding will allow us to continue to capitalize on our expertise and continue growing and deepening our programs to provide the greatest impact to our participants and value to our clients. It is very gratifying to have the continued confidence of our long term investors.”
“We were impressed with LifeMasters' clear strategy to address significant market needs,” said Lilian Shackelford Murray, Managing Director at Saints Capital. “LifeMasters has the added benefit of deep experience as an established thought leader in the health improvement industry.”
“When investing, we focus on companies with innovative technology that are committed to providing smart solutions to their clients,” said Gill Cogan, General Partner at Opus Capital. “Our Fund is the successor to the WPGVP Funds – the original investors in LifeMasters -which continue under our management at Opus Capital. We believe that LifeMasters is well positioned to provide a differentiated service in the rapidly-growing health improvement market.”.