Agetech News: No. 11

The rise of virtual care management, a medical home-visit arms race, and the other 40 Agetech deals this quarter...

Hi again,

This newsletter was a tough one to get out. Not because of COVID-19, which it finally seems the U.S. is getting under control, but because there were an all-time high of 47 deals this quarter. As you can see below, deal volume has been increasing rapidly over the past year with a growth rate of over 160% year-over-year.

Read on to dive into the exciting deals we saw this quarter, and if you were forwarded this newsletter from an obviously incredibly intelligent friend, make sure to…


Highlights

We’re doing something different for this edition’s highlights section. I was asked to summarize this quarter’s Agetech deals for the Longevity, Health & Innovation conference, so we’re going video! Check out the recording below:

Unfortunately we had to record at the beginning of March so while it highlights most of the major trends it misses out on some big deals that came after. Don’t fret though, all 47 deals this quarter are chronicled below. Read on…


In other news…

🎉 Medical home-visit startup Ambulnz went public via $1.1bn SPAC (link)

Instead of going getting SPAC’d like its competitor HIMS, Ro raised a $500m series D (link)

Fraction Technologies, creator of a new financial product which gives homeowners partial access to their home’s equity, raised C$289m in a combination of equity & debt to launch in Canada and start preparing for the US (link)

DispatchHealth, another medical home-visit provider, raised a $200m series D less than a year after its $135.8m series C to continue its rapid expansion into 100 markets (link)

Cityblock Health, a platform which helps payers surface medical and social care issues before they spiral out of control, raised a $192m series C extension to expand into North Carolina and Ohio (link)

Unite Us, which similarly to Cityblock links medical care with social services to provide holistic healthcare, became a unicorn after raising a $150m series C (link)

🎉 Telehealth provider Doctor On Demand merged with employer health plan navigator Grand Rounds merged to form a multibillion-dollar company that can tackle the issue of uncoordinated care from all angles (link)

Innovaccer, which collects disparate patient data into a unified patient record, raised a $70m series C to continue working towards its goal of creating 100 million records in the next fe years (link)

Health Recovery Solutions, a post-discharge remote patient monitoring solution, raised a $70m series C to achieve its goal of $52m in revenue by the end of this year (link)

Circulo raised a $50m series A out of the gate to use Olive.AI’s RPA system to build the Medicaid insurance company of the future (link)

🎉 Care-coordination service PatientPing was acquired by rival Appriss Health for an undisclosed amount (link)

Tyto Care, the telemedicine-powered home diagnostic device, raised a $50m series D to both build and buy new tools that expand its offerings (link)

MedMinder Systems, an online pharmacy and connected medication adherence device, raised a $40M series B to open additional automated pharmacy locations across the country (link)

Medisafe, the medication management app, raised a $30m series C to double the company's workforce and continue expanding into pharma (link)

100plus, a RPM solution started by ex-Practice Fusion execs, which is marred by scandal due to its involvement in the opioid epidemic , raised a $25m seed round (link)

🎉 Insurance giant Anthem has agreed to acquire myNEXUS, a platform which helps payers ensure that members’ home care is efficient and effective, for an undisclosed amount (link)

SteadyMD, a fully managed telehealth and pharmacy platform for individuals, employers, and healthcare systems looking to get into telehealth, raised a $25m series B (link)

Foodsmart, a food-as-medicine platform for payers which addresses food insecurity, inequity, and specialized diets, raised a $25m series C to build upon its already impressive 1.25m members (link)

Conversa, an automated virtual care platform, raised a $20m series B to support and build on the sixfold growth it experienced last year (link)

Apricus Health, which helps physicians extend their treatment of medicare patients beyond their walls, raised $20m to meet demand following its CMS approval as a direct contracting entity (link)

Health Gorilla, the API developer that makes it easy for products to integrate clinical data, raised a $15m series B to add new endpoints for consumers, payers, and data quality assessments (link)

Casana, formerly Heart Health Intelligence, raised a $14m series A to continue working on FDA clearance for its heart monitoring smart toilet seat (link)

🎉 GPM, maker of senior facility SaaS products GEHRIMED and CareTeam, was acquired by Netsmart for an undisclosed amount (link)

Insightin Health, which uses AI to help insurers engage with and retain their members, raised a $12m series A to try to maintain its 170% year-over-year growth (link)

Cohort, another virtual care management service, raised a $11m series B to grow its team and expand the capabilities of its clinical AI/NLP platform (link)

Harmonize, a remote patient monitoring service specialized for hypertension and other specific conditions, raised a $10m series A to capitalize on recent studies linking its use to a 30% decrease in ER visits (link)

Apploi, a platform for care providers which simplifies the process of recruiting, credentialing, and onboarding employees, raised a $8m series A to shift into sales & marketing mode (link)

Bold, an online workout video program designed for older adults, raised a $7m seed from Andreessen Horowitz to start scaling its platform (link)

Dina Care, which helps healthcare providers identify which organization a patient should be discharged to, raised a $7m series A to expand on its product (link)

MemoryWell, the journalist powered life story writing service that improves caregiving, raised a $2.5m seed round to expand into new products (link)

Project Well, which partners with health plans to provide food-as-medicine, raised a $2m seed round to convince more Medicare Advantage plans to come on board (link)

Socially Determined, a data analytics platform which helps organizations measure social determinants of health (SDoH) risks, quietly raised a $3.15m bridge (link)

NextStep, which offers an online training program for Certified Nursing Assistants, extended its initial fundraise of $2.5m to a total of $6.75m to accelerate beyond Colorado (link)

CircleLink Health, which performs chronic care and behavioral health management for physicians, quietly raised a $2.35m bridge (link)

Kevala, a staffing coordination and compliance platform for senior living facilities, raised $4m to grow the team and expand into more states (link)

Matchwell, an on-demand nurse staffing marketplace, quietly raised $4.1m (link)

eCare21, a combination telehealth / remote patient monitoring / chronic care management platform, raised a $2.7m seed round to fund its “ambitious expansion” into senior care, hospitals, and cardiologists (link)

Better Health Supplies, an online platform which helps individuals navigate their insurance and obtain needed medical supplies, has officially launched following the closing of a $3.5m seed round (link)


Around the world…

Pocketpills, self reportedly the “largest and fastest-growing Canadian online pharmacy”, raised a $30m series B to sustain its 5x growth last year (link)

Manual, a UK-based copycat of HIMS / Ro, raised a $30m series A to further its expansion throughout Europe and Latin America (link)

Glooko, a half-American / half-Swedish remote patient monitoring provider, raised a $30m series D to add new therapy areas and expand beyond the 7,500 clinics it already serves (link)

Oxehealth, a UK-based creator of vision-based patient monitoring, raised £10m to expand into the rest of Europe and beyond (link)

Sensi.ai, an Israeli AI-powered remote care quality assurance product co-founded by industry thought leader Keren the Gerontechnologist, raised $3.5m to expand into more US homecare agencies (link)

Lilli, a UK-based remote monitoring solution for home care, raised a £4.5M seed round to continue its pivot from hardware to software (link)

Kranus Health, a German men’s digital therapeutics developer, raised $1.2m to start scaling its ED therapy product (link)

Kenbi, a German startup that’s pioneering a new technology-based home care model, raised €7M (link)


That’s all for this newsletter. We’ll be back in a few months with more exciting Agetech News.

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