Cigna Ventures is the strategic venture fund of Cigna Corporation, a leading global health service company with more than 190 million customer relationships in more than 30 countries. Cigna offers a wide range of insurance plans and products that focus on all aspects of customers’ well-being— both physical and emotional. Cigna Ventures seeks to be the strategic venture capital partner of choice and focuses on finding and partnering with healthcare startups as they look to become a catalyst for bold new opportunities to make healthcare more affordable, simple, and predictable. As Cigna Ventures aligns closely with the business leaders across the enterprise, it is able to understand and prioritize investment opportunities that alleviate pain points and accelerate inorganic growth for the benefit of our stakeholders. Not only Cigna Ventures provide direct money support to new start-up companies, but also they provide useful human resources and connections, which enables differentiated partnership opportunities.

Craig Cimini (Head of Cigna Ventures)

Craig leads Cigna Ventures and serves as Vice President of Strategy and Business Development at Cigna. He is responsible for identifying, investing in and partnering with entrepreneurs that are unlocking new growth possibilities in health care to further accelerate Cigna’s mission. He is a founding member of Cigna Ventures and brings more than 20 years of healthcare experience. Craig earned a bachelor’s degree from Gettysburg College and a MHA from Cornell University.

Tom Olenzak (Managing Director)

Tom leads all aspects of the investment process from deal sourcing through board management and is responsible for identifying, investing in and partnering with entrepreneurs that are unlocking new growth possibilities in health care to further accelerate Cigna’s mission. He brings over twenty years of digital health experience, including roles as digital health venture partner at Safeguard Scientifics and Managing Director of Innovation and Strategic Investing at Independence Blue Cross. He earned a bachelor’s degree from Princeton University.

Jasmi Shah (Managing Director)

Jasmi leads all aspects of the investment process from deal sourcing through board engagement. She is responsible for identifying, investing in, and partnering with entrepreneurs that are unlocking new growth possibilities in health care to further accelerate Cigna’s mission. Jasmi brings over 20 years of experience focused on the healthcare sector, across venture capital, private equity, operations management, strategy consulting, and investment banking. She earned a BBA from Schulich School of Business, York University, and an MBA from Kellogg School of Management, Northwestern University.

Rachel Anderson (Principal, Portfolio Partnerships)

Rachel leads all aspects of portfolio partnerships, including strategic alignment, partnership enablement, and portfolio company support to maximize the strategic value of each investment. She brings over 12 years of experience in client management, consulting, operations and strategic partnerships. She earned a bachelor’s degree from Baylor University.

Matthew Blum (Principal)

Matt leads all aspects of the investment process, including sourcing, due diligence, transaction execution and board participation. He brings over 10 years of experience in health care leading investments and organizing value-based partnerships. He earned a bachelor’s degree from Brigham Young University and an MBA from UNC Kenan-Flagler.

Raffi Boyajian (Principal)

Raffi leads all aspects of the investment process, including sourcing, due diligence, deal execution, and board participation. He brings over 10 years of experience in various healthcare verticals leading investments, M&A transactions, corporate development initiatives, strategic partnerships, and capital-raising efforts. He earned a bachelor’s degree, law degree and an MBA from Michigan State University.

Kyle Bryant (Senior Associate, Portfolio Partnerships)

Kyle works on all aspects of portfolio partnerships, including strategic alignment, partnership enablement, and portfolio company support to maximize the strategic value of each investment. Previously, Kyle worked in innovation and virtual solution roles at Evernorth. He earned a bachelor’s degree and MBA from the University of North Carolina.

Maddi Holman (Senior Associate)

Maddi works on all aspects of the investment process, including sourcing, due diligence, and transaction execution. Prior to Cigna Ventures, she was an Associate at Touchdown Ventures, a venture firm that partners with corporations to manage their CVC funds and worked across both enterprise and healthcare funds. Before that, Maddi worked at Optio Ventures, a startup consulting and advisory firm where she focused mainly on market research, fundraising strategy, and operational support. She earned a bachelor’s degree from Rice University and an MSc from Imperial College London.

Nikolas Koenning (Senior Associate)

Niko works on all aspects of the investment process, including sourcing, due diligence, and transaction execution. Prior to Cigna Ventures, he was an Associate at UHG Ventures, where he was responsible for supporting portfolio company operations and advancing the investment process in new business concepts. Niko began his career in Corporate Development

at UnitedHealth Group where he worked on mergers and acquisitions across healthcare services, technology, and insurance verticals. He earned a bachelor’s degree from the University of St. Thomas.

AJ Shimoga (Senior Associate)

AJ works on all aspects of the investment process, including sourcing, due diligence, and transaction execution. He was previously a senior associate at Oxeon Ventures, a venture studio focused on building and investing in healthcare services and digital health companies, and an analyst at Goldman Sachs, where he worked on healthcare services mergers and acquisitions. He earned a bachelor’s degree from UC Berkeley.

• Cigna Ventures has made 22 investments.
• Their most recent investment was on Jan 9, 2023, when Monogram Health raised $375M.
• Cigna Ventures has made 7 diversity investments. Their most recent diversity investment was on Oct 7, 2022, when Valera Health raised $45M.

Alma

Company Overview:

Alma is a membership-based network for mental health care providers that aims to improve access to high-quality, affordable mental health care. The founder of Alma company highly valued personal experience when dealing with mental health, as he said there is no one size fits all solution in this area. At Alma, the job is to support providers and champion their

expertise so they can focus on meeting clients where they are and partnering with them to achieve lasting results. Alma emphasizes its service at three different perspectives : the client experience, learning and development, and diversity inclusion. Alma has raised a total of

$220.5M in funding over 5 rounds. The lead investors are Insight Partners, First Round Capital, Tusk Venture Partners, Thoma Bravo followed by other eight investors.

Funding Timeline: 2018

Alma was founded by Harry Ritter in 2018.Oct 18, 2018

Alma raised a $4.5 M seed round from First Round Capital and other four investors. Jun 21,2019

Alma raised a $8 M series A round from Tusk Venture Parents and other five investors. Feb 2, 2021

Alma raised a $28 M series B round from Insight Partners and other six investors. Aug 31, 2021

Alma raised a $50 M series C round from Insight Partners and other six investors. Aug 23, 2022

Alma raised a $130 M series D round from Thoma Bravo and other six investors.

Arista MD

Company Overview

AristaMD is an eConsult platform designed to improve the specialty referral process, enabling physicians to make better referral decisions, resulting in lower costs and improved outcomes. It is a digital health company dedicated to innovation and a leading platform that facilitates patient care transitions and increases in-network referral volume. Designed to seamlessly integrate into clinical workflows, the platform allows payers and providers to

cost-effectively coordinate patient care. AristaMD has raised a total of $36.9M in funding over 5 rounds. The lead investors are Avalon Ventures, Cigna Ventures, MemorialCare Innovation Fund and followed by other five investors.

Funding Timeline:2013

AristaMD was founded by Rebecca Confinas in 2013. Dec 12, 2015

AristaMD raised a $1.4 M seed round in 2015. Jul 21, 2016

AristaMD raised an $11 M series A round from Avalon Ventures and Correlation Ventures. Jan 8, 2017

AristaMD raised a $500k venture round. Mar 31, 2020

AristaMD raised an $18 M series B round from Cigna Ventures and MemorialCare Innovation Fund and other three investors. Jul 14, 2020

AristaMD raised a $6 M series B round from Ascension Ventures and 406 Ventures.

Babyscripts

Company Overview:

Babyscripts offers stakeholders across the healthcare ecosystem improved prenatal and postpartum care for their patients through virtual maternity care and software solutions. As Babyscripts states, every pregnancy journey is unique across race, culture, education, geography, and income level; and Babyscripts is committed to an inclusive and accessible user experience that removes barriers to care and addresses disparities through diverse visual imagery, accessible audio content and equitable digital tools. Babyscripts has raised a total of

$39.8M in funding over 10 rounds. The lead investors are Ysios Capital, Koninklijke Philips, Cigna Ventures, MemorialCare Innovation Fund, Inova Health System and other 23 investors.

Funding Timeline: May 8, 2013

Babyscripts was founded by Anish Sebastian and Juan Pablo Segura in 2013. May 20, 2013 – Apr 10, 2015

Babyscripts raised a $2.1 M seed round from six investors. Sep 1, 2016

Babyscripts raised a venture round from three investors. Jul 20, 2017

Babyscripts raised a $7.7 M series A round from Ysios Capital and other six investors.Jan 7, 2019 – Mar 19, 2020

Babyscripts raised a $6.5 M corporate round from Koninklijke Philips and other four investors. Dec 8, 2020

Babyscripts raised a $4 M convertible note round from four investors.Sep 13, 2021 – Nov 30, 2021

Babyscripts raised a $19.5 M series B round from Cigna and other two investors.

Buoy Health

Company Overview:

Buoy utilizes AI technology to navigate people through the health care system intelligently, delivering triage at scale and connecting patients with the right care endpoints at the right time. This new offering of Buoy Health connects users with an ever-growing marketplace of digital health options. Buoy’s two million-plus monthly users can access its platform and marketplace partners while paying out of pocket or utilizing their insurance provider when applicable for any care they might receive. Buoy Health has raised a total of $63.2M in funding over 7 rounds. The lead investors are F-Prime Capital, Cigna Ventures, and Humanam and followed by other 11 investors.

Funding Timeline: Jan 1, 2014

Buoy Health was founded by Adam Lathram, Andrew Le, Eddie Reyes, and Nathanael Ren in 2014. Jul 10, 2014

Buoy raised $ 50k for a debt financing round. Dec 22, 2015

Buoy raised a $2.5 M angel round from private investor Jack Connors. Jan 1, 2016

Buoy raised a $1.5 M seed round in 2016. Aug 9, 2017

Buoy raised a $6.7 M series A round from F-Prime Capital and other two investors. Aug 16, 2019

Buoy raised a $15 M series B round from Humana and other five investors. Nov 10, 2020

Buoy raised a $162.5 M series C round from Humana and Cigna Ventures.