SafeRide Health— a leading technology-first platform connecting patients of the nation’s largest Medicaid, Medicare Advantage, and provider programs to life-sustaining care— recently announced a Series C funding round to scale further its non-emergency medical transportation (NEMT) technology and services, led by Sands Capital.
The 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. And 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 its existing credit relationship alongside this equity raise.
SafeRide’s successful Series C demonstrated strong support for the firm’s vision, technology, and team to disrupt over a $10 billion non-emergency medical transportation (NEMT) market. This funding round strengthens SafeRide’s national network and advances AI and other self-service tools to improve the member experience at every touch point for more than 120 million individuals enrolled in Medicare Advantage and Medicaid today.
SafeRide closes a material healthcare gap. More than one in five adults without access to transportation reported missing necessary and often life sustaining medical care last year. Plus, transportation barriers – which disproportionately affect individuals and families with low incomes – can be detrimental to long-term health.
KEY QUOTES:
“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. In partnership with the nation’s leading healthcare organizations, we can ensure members can get to the right care, at the right time.”
- Robbins Schrader, CEO and Co-founder of SafeRide Health
“SafeRide represents the 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. 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.”
- Michael Graninger, Managing Partner, at Sands Capital
“SafeRide’s platform meets the needs of CareFirst members on an individual-basis rather than a one-size-fits-all approach. Thoughtfully meeting social needs, like transportation, means members are more likely to engage with their care plan and may achieve better health outcomes.”
- Emily Durfee, Investor at Healthworx
