Welcome back to E&O Mondays, the free newsletter from Exits & Outcomes that features the world’s most complete weekly health tech funding round-up.
In this issue:
- I found around $250 million in (announced and unannounced) health tech funding deals (equity and debt). Why so low?
- The long-awaited answer to last week’s trivia question is also below along with the three sharp-as-a-tack E&O readers who answered correctly.
Why not become a paying subscriber today? Here’s where to click –> right over here.
This week’s health tech funding deals
Wow, this is the first week in a while where there was no financing deal north of $100 million. Still, I ended up finding 26 funding deals this week. As always, the raises listed below that I didn’t see reported anywhere else have a * next to them to indicate this news is first in Exits & Outcomes.
OK, here’s what I found for Issue 014:
In Issue 010 of E&O Mondays, I reported on Capital Rx‘s $32 million raised before the company made the announcement. It turns out the full amount was a $50 million Series B. Capital Rx, a small PBM that touts its “cloud-native” platform as its differentiator, partnered with Wal-Mart back in July. Site
Bengaluru, India-based MediBuddy raised a $40 million Series B for its virtual visits, pharmacy delivery, and lab test appointment booking site.
Alma, a membership-based network for mental health providers, raised a $28 million Series B. Alma offers a member directory, client-matching service, scheduling and billing functions to make offering virtual mental health services easier. Crunchbase
FOLX Health, a virtual care provider “designed by and for the medical needs of the LGBTQIA+ community,” raised a $25 million round. This is surprisingly quick — FOLX just announced its $4.4 million seed round in December.
Infinitus, which is using voice robotic process automation (RPA) to make it easier for various healthcare entities to authorize payments and other procedures, raised a $21.4 million Series A. TechCrunch explained it well: “Infinitus uses ‘voice RPA’ to become the machine-generated voice that makes calls from, say, healthcare providers or pharmacies to insurance companies to go through a series of questions (directed at humans at the other end) that typically need to be answered before payments are authorized and other procedures can take place. Those conversations are then ingested into Infinitus’s platform to parse them for relevant information that is input into the right fields to trigger whatever actions need to happen as a result of the calls.”
This one is fascinating: Casana, formerly known as Heart Health Intelligence, raised a $14 million Series A for its first product, The Heart Seat, which “is a cloud-connected, self-contained toilet seat-based cardiovascular monitoring system.” Casana plans to submit its toilet seat to the FDA soon. Investors in the round include big-name VC General Catalyst and the world’s largest manufacturer of toilet seats, Bemis Manufacturing Company.
Plume, a health tech company built for the transgender community, raised a $14 million Series A. The company is focused on “increasing access to gender-affirming care, medication, and products for the trans community.”
Garner Health, which incentivizes employees to choose doctors its platforms rate as higher quality and lower cost, raised a $12.5 million Series A.
Bangalore, India-based Phable raised a $12 million Series A for its chronic conditions-focused virtual care offerings, which include virtual visits with physicians, connected health device data collection, and online stores stocked with medical supplies.
Bold raised a $7 million Series A for its digital health and wellness programs for seniors. The company plans to make its virtual exercise programs free to seniors in an effort to prevent falls and the onset of chronic conditions. Bold aims to partner with Medicare Advantage plans and other risk-bearing entities to keep the offering free to end-users.
* BlinkTBI, a medical device company that wants to improve the detection and management of neurological disease via non-invasive collection of data from the eyes, raised another $3 million to bump its latest raise to $6 million. Site
Poland-based Telemedico raised $6.6 million for its virtual visits offering. Telemedico is mostly B2B and its services include appointment booking for in-person visits and blood draws too.
India-based InnerHour raised $5.2 million for its virtual mental health care offering.
Singapore’s Bot MD raised $5 million for its clinical decision support chatbot for physicians.
A similar company, HealthTensor, announced it had also raised $5 million for its AI-powered clinical decision support software.
Paradromics, which is a brain-computer interface company that is mostly focused on using that kind of technology to help people with brain issues, quietly raised $4.1 million. “In order to enable new, effective therapies for brain-related disorders, we need to build technologies that can communicate effectively with the brain. This means developing a specialized data interface that will translate between bioelectric and digital signals.” Site
Valera Health, a virtual mental health services provider, raised $3.8 million.
* eFamilyCare, which pairs family caregivers with care coaches to help them look after their aging relatives, quietly raised $3.1 million. Site
Cutback Coach, which offers a program to help people drink healthier habits around alcohol consumption, raised a $3.1 million Seed round.
C. Light Technologies, which is developing health assessment tools that use a 10-second retinal eye-tracking scan for neurological disease, raised a $2.5 million Seed round.
* Digitail, which offers a telemedicine platform and practice management software to veterinarians, quietly raised a $2.5 million round. Site
Matchwell, an online job marketplace for healthcare professionals, raised $2.4 million. Site
* Avation Medical, a pre-FDA medical device company developing wearable nerve stimulation devices with remote patient monitoring capabilities, quietly added another $1.6 million to its latest round, which now stands at $12 million. The company has an initial focus on overactive bladder syndrome. Site
* Health Rhythms, which is developing a “the world’s largest mental health API” to enable standardized, personalized mental health assessments, quietly raised $800,000 in debt and other options. Site
* Here’s an interesting one: Nudge Coach, which offers a no-code, build-your-own health coaching app service for individual health coaches, quietly raised $525,000. Site
* FamHis, which offers a family health history gathering app, quietly raised $200,000. Site
Health Tech Trivia Answer
OK, we have our winners! Congratulations to these three sharp E&O readers:
- Liz Rockett, Director, Kaiser Permanente Ventures (Twitter: @liz_rockett)
- Eugene Borukhovich, Chairman & COO, YourCoach.Health
- Geoff Matous, President, Wellinks (Twitter: @geoffmatous)
ICYMI, the Question: Some digital health companies have a legal name that most of us don’t know, and they use a D/B/A (doing business as) brand that we do know. So, here’s the question: Can you name both of the D/B/A (doing-business-as) brands of these two legal names: 1. Reciprocal Labs Corp. 2. Informed Data Systems Inc. (Hint: The first one was acquired in recent years and the second one is mentioned in this very newsletter issue.)
Answer: The first one is, of course, Propeller Health, which Resmed acquired in recent years. The second one is OneDrop. Most of the people who wrote in were only able to get one of the two. Just the three readers listed above could get both. Impressive work, friends.
Next Monday: A new question… let me know if you have a good one that I can use?