Drips Receives Growth Investment from the Blue Venture Fund
Drips continues to focus on accelerated growth in the healthcare market with this investment.
AKRON, Ohio–(BUSINESS WIRE)–Drips, the founders of Conversational Texting®, today announced it has secured a growth investment from the Blue Venture Fund to support the company’s vision of enabling healthcare organizations to connect with their members and patients during critical moments through its conversational AI platform. This investment follows the previously announced investment from leading software investor Accel-KKR and its credit facility with Wells Fargo Capital Finance’s Technology Finance group.
The Blue Venture Fund is a unique collaboration among Blue Cross Blue Shield (BCBS) companies, the Blue Cross Blue Shield Association (BCBSA), and Sandbox to which thirty-five BCBS companies have committed over $890 million across four funds. The Blue Venture Fund invests in promising emerging companies of strategic relevance to Blue Cross and/or Blue Shield Plans and provides the portfolio with access to BCBS companies to deploy innovation at scale. Sandbox is an independent venture capital firm that provides healthcare-related investment management exclusively for the Blue Venture Fund.
Drips continues to drive value in the healthcare industry with its conversational AI platform. Clients in the healthcare vertical have a critical need to communicate with their members and patients in an automated, humanized way regarding health insurance policies, care coordination, Medicare options and more. The company’s Conversational Texting® technology enables these organizations to engage with their audience in a way that better aligns with their members’ preferences.
“The Blue Venture Fund is committed to connecting high growth companies with Blue Cross Blue Shield entities to reduce costs, enable better member experiences, and improve care delivery in the changing healthcare marketplace,” said Bo Shi, Vice President at the Blue Venture Fund. “Drips is an excellent addition to our portfolio, and we are thrilled to partner with the Drips team to improve how consumers engage with the healthcare system.”
“We are honored to be partnering with the Blue Venture Fund as this prestigious investment is a testament to Drip’s industry-leading technology for the healthcare vertical, and the incredible people behind our solutions,” said Aaron Christopher (A.C.) Evans, Drips’ CEO. “This investment will accelerate Drips’ product innovation, ultimately enabling healthcare organizations to continuously improve the way in which they communicate pertinent information to their members and patients. Just as important, this investment gives us potential access to deploy Drips’ innovative messaging technology at scale within the BCBS companies, potentially serving members for various important insurance, medical and care moments.”
The Drips platform is backed by a proprietary natural language processing model that simulates two-way, humanized conversations. More than half a billion conversations have been handled by the platform and the breadth of data will continue to drive value for Drips clients, especially as the company expands within the healthcare market.
About Drips
The Drips AI-powered platform enables brands to engage with their audiences through Conversational Texting® and scheduled calling. Backed by a proprietary natural language processing model, Drips leverages human-like messaging to break through the noise, capture intent and drive meaningful outcomes. With more than half a billion conversations handled to-date, our AI is constantly improving. More than 3.5 billion touch points have gone through the Drips platform. The platform offers an open API allowing clients to integrate with any CRM, marketing automation system, dialer or call center platform. Learn more at www.drips.com or connect via LinkedIn, Twitter, Instagram or the Drips blog.
Contacts
Elise Andersen
+1 (952) 237-0773
[email protected]
