TMC Venture Fund’s Post

Following our recent Seed+ funding round closure, our CEO Tatiana Fofanova, Ph.D. Fofanova had an insightful dialogue with Jim Parker from Hospice News, shedding light on what lies ahead for us. 🌟 Reflecting on our next steps, Dr. Fofanova shared, "We actually have a contract signed for the second product line as a proof of concept already, and it’s going to be synergistic to the #AdvanceCarePlanning product and set us up quite nicely for the series A." It's a testament to our continuous effort to innovate and provide comprehensive care solutions that truly make a difference. The completion of this significant funding round, led by Ecliptic Capital with pivotal contributions from Memorial Hermann Health System, AARP, and TMC Venture Fund, marks the next chapter in our journey. This capital injection will not only fuel our expansion but also enhance the depth and reach of our impactful #patientengagement solutions. This conversation also touched on the strategic utilization of the new funds, including further technological development, team expansion, and the exploration of new markets. By building on our unique approach to Advance Care Planning, we're setting the stage for even greater achievements in personalized patient care. 🔍 Focused on the future, our goal is clear: to #empowerpatients with the tools they need to make informed healthcare decisions, supported by a platform that bridges, digital convenience with compassionate care. https://lnkd.in/gqC-ZS9f

🎉 BIG NEWS: We've successfully closed Koda Health's Seed+ round! 🎉 This round was led by Ecliptic Capital, with strategic investments from healthcare giants Memorial Hermann Health System, AARP, and TMC Venture Fund. This is a critical inflection point for our company, so it was crucial for us to fill our #fundinground with strategic investors who deeply understood the healthcare market and our end users. Our solutions serve over 700,000 individuals and are backed by endorsements from industry leaders. But as that number continues to grow, our future plans include expanding partnerships, building new tech, and setting new standards in patient care. This influx of support will drive innovations in scale and pave the way for our second product line 🤫 . Stay tuned for updates or get in touch for a sneak peak! 📖 Want to read more? Check out this article in the Associated Press: https://lnkd.in/gvfqtBzN 🙏 Special thanks to Adam Lipman, Amelia Hay, Feby Abraham, William McKeon, David Wong, MD, Amar Rai, Juan Diego Briceño, Samuel White, MD, Matthew Miller, PhD, Jennifer Cunningham, Christopher Kopczynski, Winston Gilpin, Andreas R. Galliker, CFA, Sweksha Jha, MPH, Dr. Toby Hamilton, David Bradshaw, and many more. 🐘 And if you're new here...Desh Mohan, MD, Katelin Cherry, and I started Koda Health in March 2020 out of the Texas Medical Center. Koda Health is a tech-enabled care coordination platform to improve serious illness care planning that has equal rates of engagement across race, gender, and socioeconomic status. In short, we're solving the $100B problem of inappropriate care delivery. Our flagship Advance Care Planning (ACP) solution pairs a cloud-based ACP platform with an in-house 1:1 longitudinal ACP support and navigation. This allows healthcare organizations to provide scalable, personalized ACP without an increased organizational lift. It works, and it's amazing. I wonder we'll build next... 🤔 #funding #healthcareindustry #innovation #ACPforALL #strategiccapital

Cercle Raises $6M to Advance Women’s Healthcare Using Data-driven Insights Cercle Health, a California-based health tech company focusing on transforming women’s healthcare data at scale into critical insights for optimal patient service and business operations, has raised $6 million in seed funding. The funding round was spearheaded by Outsiders Fund, with contributions from CGHealth Ventures, Rogue Women's Fund, and FemHealth Ventures. Existing investors Sheryl Sandberg and Tom Bernthal’s SBVP fund also joined the financing round alongside other angel investors. Co-founded in 2020 by Juan Carlos Riveiro, Andreas Melder, Liya Sharif Lancia, the company developed an AI-driven healthcare insight platform, Cercle Biomedical Graph™, specifically designed to unlock women’s healthcare data at scale for use by healthcare providers to deliver personalized care and optimize business operations. Read more: https://lnkd.in/g8y3Nv5u #fundingnews #FundingOpportunity #StartupFunding #StartupSuccess #HealthcareNews #HealthcareFunding #nextdigitalhealth #Wi4 #vineetagrawal

RxDiet Secures $3m Seed Funding to Improve Healthcare Outcomes Using AI-driven Food Plans A New York-based health tech company leveraging the power of AI to create medically formulated food plans, RxDiet, has raised $3 million in seed funding to address poor diet, the leading cause of many chronic conditions. Co-founded by Roman Kalista, MD, and Jan Škvařil, the company has received significant support in the seed round to expand its grocery network, strengthen its team, and extend services to diverse payers. The round was spearheaded by Giant Ventures, with contributions from other investors such as FORM Life and Better Ventures, alongside many angel investors including Immad Akhund from Mercury Bank. Read more: https://lnkd.in/gGx9Hg6R #fundingnews #FundingOpportunity #StartupFunding #StartupSuccess #HealthcareNews #HealthcareFunding #nextdigitalhealth #Wi4 #vineetagrawal

Is this the worlds first VC-Backed Hospital? General Catalyst have recently announced plans to acquire a hospital in Ohio, USA. The acquisition is reportedly set to cost between $1-3Billion. This is a letter of intent so the deal is yet to go through however could be interesting for their portfolio companies 👉🏾Does a VC backed hospital allow a health system for startups that have achieved product market fit to get into hospitals quicker? 👉🏾Does a VC backed hospital allow for new startups to spawn and access higher quality data? Early plans suggest they want to bring in a Value Based Care model to the 60,000 members of the hospital group. 😢Private equity in healthcare has been criticised and studies have found “Hospital patients are more likely to fall or acquire infections inside of private equity-owned facilities than in peer facilities”. GC has no plans to sell and state they’re in it for the long run. Let’s see what happens! 👇🏾What impact do you think a VC backed hospital will bring to the ecosystem? #venturecapital #privateequity #healthcare

🚨 🆕 Emergency medical response company RED.Health is in talks to raise around $27 million in its Series B round from a host of investors, DealStreetAsia has learnt. While new investors such as Jungle Ventures and Alteria Capital are expected to join the startup’s cap table in the proposed funding round, its existing backers HealthQuad and HealthXCapital are also expected to top up, said multiple sources privy to the development. Founded in 2006, the company provides quick medical assistance including ambulance services and telemedicine. RED.Health has a fleet of over 274 ambulances and a presence in more than 16 cities. The company saw its business boom during the COVID-19 pandemic but has since experienced a downturn. According to Indian media reports, the Kalaari Capital-backed company was said to be struggling to clear staff salaries earlier this year. Its losses also ballooned 18.4x in the twelve months ended March 31, 2023, even as its revenue grew 41% during the same period. Full story: https://lnkd.in/gA7TVxeu

To end the week on a more positive note PitchBook recently published a list of digital health companies that are likely to IPO this year. During the Covid19 induced mad valuation hype several digital health companies went public, but this ended badly for many of them (Babylon Health, Pear Therapeutics, Better Therapeutics and now Akili). Allowing early investors in digital health companies to gain liquidity via a listing on the capital markets helps the sector grow by allowing capital to be recycled in the space and by providing a pathway for investors to cash out of their investment. I would argue that several of the initial batch of digital health companies that went public were not in suitable shape to do so. Most had little to no revenues, promised massive growth that was never delivered and none of them were profitable. The current batch of IPO contenders includes companies that can be considered digital therapeutics companies (Noom & Hinge). Several also have businesses that reply on telemedicine to enable their service delivery (Noom, Ro, Lyra and Hinge) but do not rely on telemedicine as the core differentiator of their business model. Many of these companies also have built sizable revenue bases showing they can scale their commercial models (noting that I didn't say 'scale profitably'!). The big question on my mind is will the companies that raised capital at high valuations several years ago be able to hold onto these valuations when going public. Based on the info provided by Pitchbook it's estimate that Hinge, Ro and Lyra last raised capital in the $6 billon valuation range. Sense checking this; Hinge's revenues are estimated to be around $300mil, so their current valuation would price them at around 20x revenue which is high. At the end of the day the sector would benefit from a couple of digital health companies being successful when going public, and hopefully the next batch of companies taking this route become the success stories we need. #digitalhealth #digitaltherapeutics #digitalhealthcare

🚀 The key contributor to my chart on Tuesday focused on #YTD venture funding in Digital Health across Europe was the significant Flo Health Inc. deal disclosed at the very end of July. Flo Health, a pioneering #DigitalHealth venture focused on #womenshealth, announced a substantial USD 200 million Series C #funding round led by General Atlantic, a #US investor. This round has elevated Flo Health to a #valuation of USD 1 billion, a figure that surprised many industry observers. Founded in 2016 in the #UK by Dmitry Gurski and Yuri Gurski, Flo Health has rapidly become a prominent player in the women's health sector. Our #AlphaForecaster positions Flo Health significantly ahead of its peers (see slide 6 for further details). For those keen on delving deeper, a detailed #profile of Flo Health is being shared to provide further context. Despite the impressive #valuation, it is worth noting that this aligns with current market trends observed by Galen Growth | Insights You Can Trust. We do not regard this announcement as a potential return to a frothy investment environment. Stay informed. Stay ahead. Together, let's shape the future of healthcare. 🌟

Interesting use case for AI: scouting for new tech companies. And great to see a new venture outfit in Europe. Being tech-agnostic is great, but I wonder whether spreading to thin is a risk for Earlybird Health. I am excited to see this and will surely follow the next investments and their rationale! #venturecapital #vcfunding #europe #healthech

✅Our healthcare report and market map are finally live✅ Over the past several months, I have shared with anyone who would listen that Michael Cardamone and I were in conversation with innovation executives across four of the top healthcare systems in the U.S. including Mayo Clinic Ventures, Hackensack Meridian Health, Cone Health Ventures, and University Hospitals Ventures to understand current strategies and priorities in order to hone in on our investment thesis. The goal was to arm healthtech founders with the inside perspective on the critical investment areas for US hospitals to help establish product-market fit and solve the industry's most pressing challenges. Links to download the report, check out the market map, and submit your company are all in the comments. Thank you to our contributing experts Shai Ran Sapir, Technology Development Manager at Mayo Clinic Ventures, Sandra Powell-Elliott, Chief Innovation and Commercialization Officer at Hackensack Meridian Health, David Heenan, Managing Director at Cone Health Ventures, and Matthew Zenker, Director of Deal Flow and Investments at University Hospitals Ventures. #healthcare #innovation #healthtech #earlystage #healthtechfounders #healthcarestartups