Recession? Not in Agetech!
Venture investments have slowed to the lowest rate since the pre-vaccine Covid lockdown; inflation is still above 7.5%; public markets are down double digits; crypto just imploded; last month over $1B was plowed into Agetech companies. Wait...what!?
Despite turmoil in what seems like every other investment sector, Agetech is booming. Perhaps it's because when the economy tumbles, care needs increase. Maybe it's that when exciting, speculative, get-rich-quick fads falter, somewhat "boring" but obvious investments look more attractive. Or it could be that there's still so much whitespace in Agetech that even macro pressures have little effect.
It's likely due to all these reasons and more that November saw so much activity, both here in the US and around the world. In the immortal words of the Geto Boys, "Damn, it feels good to be in Agetech".
DispatchHealth, a hospital at home medical company, raised more than $330M to bring a full range of capabilities to all of its US markets (Home Health Care News)
UpStream Healthcare, which offers technology and support services for value-based primary care practices, raised $140M in Series B funding (Mobi Health News)
connectRN, a healthcare workforce platform, received a $65M loan package from Bridge Bank to support its rapid growth and expansion (Business Wire)
care.ai, a provider of an AI-powered ambient monitoring platform in healthcare, raised $27M in funding to accelerate growth and scale deployments of its smart care facility platform throughout the U.S. (FinSMEs)
PayZen, which provides health care providers with lower medical bills before attempting to collect the full amount from clients over a longer period of time, raised $20M in Series B funding as well as a $200M warehouse credit facility (Silicon Valley Journals)
Virtual care startup Wheel is set to acquire GoodRx’s virtual care tech backbone for $19.M in cash (AXIOS)
Nymbl Science, a company providing digital balance training for older adults, raised $12M in Series B funding to expand operations and improve its platform (FinSMEs)
Validic, a digital health company focused on remote patient monitoring, scored $12M in funding to further improve its platform (Becker’s Hospital Review)
Neurotrack, a company developing digital cognitive health tools, raised $10M and launched a three-minute digital assessment tool to screen for cognitive impairment during wellness appointments (Mobi Health News)
Hearing technology and audiology care company Yes Hearing, which provides an online platform and at-home treatment for the hearing impaired, scored $10M in Series A funding which will be used to expand its team and product offerings (Mobi Health News)
Carallel, which provides personalized guidance and digital health tools to identify caregivers and empower them to confidently manage the twists and turns of caregiving, raised $8.22M in recent funding (SEC)
Exer Labs, which helps healthcare providers achieve better outcomes with FDA-registered mobile apps that accurately measure motion using smartphone cameras, emerged from semi-stealth with a $6.5M funding round (Exer)
Tech-enabled hospice startup, Guaranteed, debuts with $6.5M in Seed financing (Axios)
Menopause company Joylux closed on $5.5M in new commitments, bringing their total Series A round to $13M (FemTech Insider)
Eargo, which makes tech-enabled hearing aids, recently announced that healthcare investment firm Patient Square Capital is the new majority owner with a 76.3% share purchased for about $32.3M (Mobi Health News)
Lifespark, a complete senior health company, is acquiring Livio Health, a wholly owned subsidiary of the parent company of Blue Cross and Blue Shield of Minnesota (Blue Cross) that provides in-home health services to people with chronic and complex illness (Blue Cross Blue Shield Minnesota)
Northwell Health and Aegis Ventures signed an agreement to launch Upliv, a virtual menopause care company (Mobi Health News)
Around the World
Montréal based WorkJam, a frontline workforce management startup, secured $50M in a Series D round to expand its footprint in Europe, Southeast Asia, Latin America, and the United States (Betakit)
Turkey-based virtual psychological therapy startup Hiwell received $11M in funding to expand global operations and implement new services to offer to their users in Turkey (Webrazzi)
Belgium’s IntelliProve, a platform that enables doctors and mental health practitioners to enrich patient consultations by using a conventional smart phone camera to determine their conditions, raised €1M in Seed funding to fuel its launch (tech.eu)
London headquartered remote health platform Aide Health has secured $1.2M in Pre-Seed capital, which it plans to use to expand its services to include hypertension and chronic pain (UKTN)
Agetech News is excited to participate in the upcoming Medicarians conference! Medicarians is the home of the product creators, distributors, provider networks, plan administrators, venture investors, and innovators helping people live longer and better lives: physically, financially, and mentally.
If you know of any startups, investors or industry leaders who might be interested in speaking at this conference, reach out to us at email@example.com!