Last Week in Digital Health Funding: Oct 7 – Oct 13
The following companies raised funds during the past 7 days: Natalist, FeetMe, BrainCheck, RapidSOS, Allerguard, Papa, Chronometriq, SEngine Precision Medicine, Omada Health, Sentio Solutions, and Parsley Health.
Femtech startup Natalist raised $5M in Seed financing. The company launched in August with a beautifully branded offering of doctor-approved products and resources, including The Get Pregnant Bundle. Evidence, education and usability are at the core of Natalist’s product selection. The team started Natalist with a mission to reduce the shame, misinformation, and outdated product offerings they experienced while trying to conceive, as well as the narrative around conception’s unique challenges. They offer evidence-based education and a judgement-free community, alongside redesigned fertility essentials. The startup plans to both expand its product offerings and accelerate the growth of its customer base. The funding has brought together diverse, industry-renowned investors, including angel investors Katrina Lake, Julia Cheek, Christine Lemke, John Doerr, Malay Gandhi, David Vivero, and R. Martin Chavez, among investor groups Collaborative Fund, Fuel Capital, Rock Health, xFund and Cowboy Ventures, who is leading this round. • read more.
Smart medical wearables maker FeetMe raised €9.4M Series A. The Paris, France-based company has developed an innovative technology that allows gait and posture analysis in real-time and real-life conditions. Said technology combines pressure sensors, motion sensors and learning algorithms to analyze patients’ functional capacity, as well as empower rehabilitation among sufferers of gait disorders. The fundraising will enable acceleration of the company’s commercial activities in clinical trials for the pharmaceutical industry and healthcare services for hospitals and rehabilitation facilities worldwide. The investment round was led by LBO France, with additional investment from existing investors Kurma Diagnostics, the fund Paris Saclay seed fund, Idinvest Partners, Seventure and SOSV. • read more.
Cognitive health solution provider BrainCheck raised $8M Series A. The Houston-based startup has developed a HIPAA-compliant cognitive healthcare product that helps physicians assess and track the mental health of their patients. An assessment is all done on an iPad and takes about 10 minutes. BrainCheck plans to combine its assessments with digital biomarkers like changing voice patterns and a test of eye movements. It has developed an eye-tracking technology and voice algorithms, but those are still in clinical development. The company is trying to get an FDA approval for them. The round was co-led by S3 Ventures and Tensility Venture Partners. • read more.
Emergency platform provider RapidSOS raised an additional $25M in Series B financing. The company has developed an emergency platform that provides a rich data link from connected devices to public safety — sending life-saving data to improve emergency response. The new funds, which add to an initial close of $30M, accelerates RapidSOS’s work partnering with thousands of public safety agencies, most major public safety software providers, and connected device companies to transform emergency response and disaster management. The latest investment was led by Energy Impact Partners (EIP), the largest energy technology investment firm backed by a coalition of leading global utilities. • read more.
Food allergy detection startup Allerguard raised $1.5M. The Israel-based company develops a handheld device that scans and analyzes the vapors coming out of prepared food to determine the presence of allergens, such as peanuts. Allerguard has offices in both Tel Aviv and Bethesda, Maryland. The round was led by CoShare, with participation from eHealth Ventures and the Israel Innovation Authority, the government’s tech investment arm. • read more.
Papa raised $10M Series A for its “Grandkids on Demand” service. Founded in 2016, Papa connects college and nursing students — known as “Papa Pals” — to older adults who need assistance with transportation, house chores, technology lessons, and other services. By providing companionship to seniors who lack access to social networks, the company seeks to curb social isolation and loneliness, which researchers have shown has the same impact on health as smoking 15 cigarettes per day. Papa will use the proceeds from the financing to expand its services to a broader population of older adults, via partnerships with insurance plans and employee benefit providers. The round was led by Canaan, with Pivotal Ventures, Initialized Capital, Y Combinator and Sound Ventures also participating. • read more.
Provider of access-to-care and patient engagement tools Chronometriq raised CA$20M Series B. Founded in 2012, the Montreal-based company is a leader in digital healthcare management through its suite of products enabling full-cycle appointment management for clinics and patients alike. In the past year alone, Chronometriq served 12 million users through its network of clinics across North America. This financing will help further Chronometriq’s leadership position in Canada and give them significant opening traction in the United States. New York growth investor Full In Partners led the round with additional participation from existing investors. • read more.
SEngine Precision Medicine raised $5.1M Series A to advance its oncology drug discovery platform. The company is an oncology pioneer accelerating cancer drug discovery through its CLIA certified, proprietary diagnostic platform PARIS. SEngine’s high-throughput screening technology simultaneously tests dozens of targeted anti-cancer agents against a patient’s unique cancer cells outside the body via patient-derived 3D tumor organoids. The results decode the most effective and least toxic treatment options in just weeks, which DNA sequencing alone cannot reveal. The AI-optimized platform leverages the aggregated, anonymized test results to develop new cancer-fighting drugs. The funds raised will be used to fuel the company’s AI integration and accelerate development of proprietary 3D tumor organoid diagnostic and drug discovery platform. The round has been led by the Bangarang Group with participation from various family offices and returning investors. • read more.
Intermountain Ventures invests in Omada Health. The investment expands a relationship between the two organizations that began five years ago. In 2016, Intermountain Healthcare and Omada launched an innovative partnership in conjunction with the American Medical Association to deliver digital diabetes prevention services via physician referral. In addition to producing strong clinical outcomes for enrolled individuals across Utah, the collaboration has provided a roadmap for large healthcare organizations adopting proven digital health solutions. The Omada Program became a covered benefit for Intermountain employees and their adult dependents in 2019. Earlier this year, Omada announced a $73 million round of investment led by Wellington Management, bringing the company’s total investment to more than $200 million. • read more.
Developer of biomarkers and digital therapeutics for mental health Sentio raised $4.5M in Seed funding. The company, which is also known for its Feel brand, combines its proprietary emotion sensing technology with Cognitive Behavioral Therapy (CBT) to bring a data-driven approach to the field of mental health for the very first time, while providing real-time interventions and care to those in need of emotional and mental health support. The latest investment, which brings the total raised to date to $6.3 million, will enable Sentio to expand access to its Feel program through partnerships with health plans, life insurance providers, employers, and health systems. The round was led by Felicis Ventures, with participation from Anthemis Exponential Ventures and SOSV. • read more.
Parsley Health raised $26M Series B to launch telemedicine products. Founded in 2016, Parsley Health offers a membership service that allows users to work with doctors to find the root of their issues and create lifestyle changes to resolve them. One year of membership includes five annual visits with doctors (approximately four hours of doctor-patient time), along with five sessions with their health coach, who help patients stay on their plan with advice on how to get more sleep, eat better or get more physical exercise. On the heels of the new funding, the company is launching a new telemedicine product, which is meant to give people across the country the same access to Parsley’s service as those who visit their brick-and-mortar locations. This includes diagnostic testing, personalized medical care from doctors who practice functional medicine, health coaching and 365-days-a-year access to their care team. White Star Capital led the round with participation from FirstMark Capital, Amplo, Alpha Edison, Arkitekt Ventures and Galaxy Digital; as well as Flatiron Health founder Nat Turner and One Medical founder Tom Lee. • read more.
Please note that this list represents only the digital health deals that caught our eye in the past 7 days. There may be other deals we are not aware of or those which we don’t think fit the “digital health” category.