Healthworx Ventures

Healthworx Ventures is the innovation and investment arm of CareFirst BlueCross BlueShield, focusing on integrating behavioral and physical health to improve health outcomes. The firm invests in early-stage companies that address critical challenges in the healthcare sector, aiming to enhance the quality, accessibility, affordability, and equity of healthcare services. By leveraging CareFirst's extensive network and resources, Healthworx Ventures provides strategic support to its portfolio companies, facilitating their growth and impact in the market.

The firm's investment strategy encompasses a wide range of healthcare sectors, including digital health, behavioral health, health IT, MedTech, and health services. Healthworx Ventures typically invests in seed to growth-stage companies, with investment sizes ranging from $1 million to $50 million. This approach allows the firm to support startups at various stages of development, from initial market entry to scaling operations.

Healthworx Ventures has a track record of strategic investments aimed at addressing pressing healthcare issues. For instance, in June 2023, the firm participated in a $14 million Series A-Prime funding round for evolvedMD, a company that integrates behavioral health specialists into primary care practices to enhance patient outcomes and reduce provider burnout. This investment underscores Healthworx Ventures' commitment to supporting innovative solutions that bridge the gap between behavioral and physical health, contributing to improved healthcare delivery and patient well-being.