Investing

As part of a global trend for health insurers, the cornerstone investment in XT Ventures will further HCF's "deep pedigree in helping innovative startups". 

The company said it would use the Series A to expand its team, build its provider network, and add partnerships with health systems and payers.

The startup also announced a new product called Clear Contracts that aims to improve the direct contracting process.

Also: Precision oncology platform OncoHost scores $35 million, home care startup Reverence emerges from stealth with $9.5 million and pediatric behavioral health startup Handspring Health completes a $6.2 million seed round.

The funding will also go toward attracting leadership talent and accelerating product development, marketing and sales.

The size of the healthcare industry is attractive to entrepreneurs, but the highly regulated field can be a challenge for startups.

The round included a strategic investment from pharma giant Gilead Sciences to expand their partnership for decentralized and hybrid trials.

The firm plans to expand its chronic disease treatments across more therapeutic areas.

Also: Imagene AI raises $21.5 million across two rounds for precision cancer care, and Capable Health scores $6 million in seed funding to help providers build healthcare apps.

The round comes nearly a year after the company announced it had raised $45 million in Series C financing.