Cigna, BCBS Arizona among backers of virtual mental healthcare startup

Virtual mental healthcare provider Valera Health received a $44.5 million investment, backed by Cigna Ventures and Blue Cross Blue Shield of Arizona venture fund Trinnovate Ventures. 

According to a news release published Oct. 31, the growth equity raise was led by Heritage Group, a venture fund that partners with several large hospital systems and local Blue Cross Blue Shield companies. 

Valera Health provides virtual mental healthcare to high-acuity patients in seven states, according to its website. 

"We remain excited about our relationship with Valera, and look forward to helping support the company's growth nationwide so that they can continue to provide the highest-quality clinical care to our most vulnerable customers," Tom Richards, Cigna's global leader for strategy and business development, said in a news release. 

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