General Catalyst and T. Rowe Price led the funding round, with significant contributions from Viking Global Investors.
The funding round brought Color’s total financing to $278 million. It also created a valuation of $1.5 billion, which earned the seven-year-old company unicorn status.
Color plans to use the funding to strengthen its work establishing public health infrastructure and technology for governments, employers and other organizations that serve large populations.
“The opportunity to design the future of public health through technology cannot be overstated,” General Catalyst Managing Director Hemant Taneja said in a news release. “Color understands that often, challenges in healthcare aren’t scientific or medical in nature, but rather due to access barriers.”
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