Aver, a Columbus company that bundles payment and value-based health care solutions, has closed a $27 million Series C capital round. This investment will allow Aver, which was founded in 2010, to scale operations and grow platform capabilities.
In addition to major investment from Cox Enterprises, the round included participation from current investors Drive Capital and NCT Ventures, both in Columbus, as well as Heritage Group and Hearst Ventures.
“Our goal in deploying this capital will be to help our large commercial payer customers execute the design, implementation and administration of bundled payment programs,” Aver President and CEO Bill Nordmark said, in a statement.
As a $21 billion innovative company, Cox will bring a critical lens for the innovation and adoption of value-based programs, which will allow Aver to bring more value to its customers, he added.
“It’s been exciting to watch Bill and his team innovate as they built Aver into the impactful company it is today,” Drive Capital co-founder and partner Mark Kvamme stated. “We believe Aver will continue to grow into the market-defining company for bundled payments.”
Headquartered in Atlanta, Cox is a global company with brands that include Autotrader, Kelley Blue Book and Cox Homelife. Founded in 1898 by Ohio Gov. James M. Cox, the company is a family-owned business.