Digital network management and coordination solutions to help health plans and providers improve access to home-centric care
CHICAGO – Feb. 13, 2024 – First Analysis, a leading venture capital investor, has made a new investment in Dina, provider of digital network management and coordination solutions for the Medicare Advantage and managed Medicaid markets, with a particular 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 continued execution of the product roadmap. First Analysis led the $7 million Series B round.
Dina automates 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. Its two-sided network connects the highly fragmented and varied ecosystem of care providers with payers and members, with a focus on a uniform and efficient member experience.
“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, co-founder and 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.”
“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 toward achieving its goals."
"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."
Andrew Walsh has joined the Dina board.
About First Analysis
First Analysis is a leading venture capital investor focused on B2B technology businesses. We have one of the longest records in venture capital, having invested more than $825 million across multiple highly diversified funds over four decades. First Analysis invests mainly in North America with a focus on our sectors of expertise, including cybersecurity, e-commerce optimization, enterprise productivity, future of work, go-to-market tech, healthcare IT, infrastructure tech, Internet of Things, learning tech, pharma IT and vertical SaaS. We help established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Our flexible approach targets investing $3-10 million as lead investor or as a syndicate partner bringing valuable perspective.
About Dina
Dina provides digital network management and coordination solutions to help health plans and providers improve access to in-home care, long-term services and supports, and supplemental benefits. Customers use Dina’s platform to digitize their provider networks, transform coordination workflows, manage compliance reporting requirements, and collect valuable insights from the home and community. As a result, coordinators can spend more time helping people stay home safely and less time with phone calls, emails and faxes. The Dina platform has earned certified status by HITRUST for information security. In 2022, Dina was named to the Inc. 5000 list of fastest-growing companies, and CB Insights Digital Health 150 list of companies transforming healthcare with digital technology. For more information, visit www.dinacare.com.
For more information, please contact:
Andrew Walsh
Managing Director
312-258-7110
awalsh@firstanalysis.com
Corey Greendale
Managing Director
312-258-7139
cgreendale@firstanalysis.com
Media contact:
David Leshuk
Managing Director
312-258-7131
dleshuk@firstanalysis.com
To download a pdf version of this announcement, please follow the link below:
First Analysis invests in Dina, provider of home-centered care coordination solutions - February 2024