First Analysis, a leading venture capital investor, has made a new investment in Dina.
First Analysis led the $7 million Series B round, with participation from existing investors Osage Venture Partners and First Trust Capital Partners, LLC.
In December, SCAN Group, a mission-driven organization whose holdings include SCAN Health Plan, one of the nation’s largest not-for-profit Medicare Advantage Plans, made a strategic investment in Dina. SCAN is also a Dina customer.
The consistent coordination and delivery of newer, non-medical services has been a growing challenge for health plans, and Dina provides a novel way to unlock the true value of these benefits for members at scale.
Dina provides digital network management and coordination solutions for the Medicare Advantage and Managed Medicaid markets, with a focus on coordinating supplemental benefits and long-term services and supports (LTSS). The investment will support Dina’s go-to-market strategy as well as the continued execution of the product roadmap.
“As our population gets older and more people choose to age in place, Dina remains committed to powering the infrastructure to make that a safe, cost-effective and delightful experience,” said Ashish V. Shah, CEO at Dina. “We are thrilled to partner with the First Analysis team. They have a deep understanding of our market and extensive experience working with healthcare IT companies, making them a valuable partner as we embark on the next phase of our growth journey.”
Dina automates the benefits workflows for maximum efficiency and makes it easy to coordinate medical and non-medical home-centered benefits and services. Dina’s modern SaaS platform is built to support unique needs and opportunities across the Medicare and Medicaid segments of the U.S. healthcare market.
“We continue to see the home as an increasing nexus of care, along with the growing importance of supplemental benefits and services to health plan members,” said First Analysis Managing Director Andrew Walsh.
“The consistent coordination and delivery of these newer, non-medical services has been a growing challenge for health plans, and Dina’s platform provides a novel way to unlock the true value of these benefits for members at scale. Dina is one of the early innovators actively capitalizing on this market opportunity, and I am excited to work with the Dina team and to contribute my expertise in population health towards achieving its goals.”
Walsh has joined the Dina board.
“First Analysis’ long history of research and investing in healthcare IT helped us understand Dina’s potential. Dina is at the forefront of a significant market, tackling a crucial challenge in today’s healthcare ecosystem,” commented First Analysis Managing Director Corey Greendale. “I am thrilled that First Analysis will have the opportunity to assist Dina as it continues to expand its innovative solution.”