The healthcare management software producer received $74m in a series C round backed by China Pacific Insurance and will use the cash for product development.

Insurance provider China Pacific participated in a $74m series C round for China-based healthcare management and analysis software developer More yesterday.

The round included both China Pacific and its Pacific Medical and Healthcare Management subsidiary in addition to an investment firm known as Yanran Capital.

Founded in 2015, More provides big data and artificial intelligence (AI)-equipped software that facilitates the management of healthcare services. Its lead product is a platform that helps insurance firms track healthcare provision and payments for their users.

The company has also developed technology that utilises AI to identify the most beneficial points to make health interventions, and a system that gamifies healthy behaviour. It intends to put the series C funding into product development and customer acquisition.

The latest round comes after a $36.3m series B round in April 2017 that was co-led by investment manager Citic Capital and a private equity fund co-founded by financial services firm Agricultural Bank of China that took More’s total funding to $67m, the company said.

Photo courtesy of More Health.

Robert Lavine

Robert Lavine is special features editor for Global Venturing.