StartUp Health Insights: One Week, Three Unicorns | Week of Dec 9, 2020
By: Startup Health
Tags: Coronavirus, Innovation, Insights, Digital Health, Funding

StartUp Health Insights: One Week, Three Unicorns | Week of Dec 9, 2020

Virta — a StartUp Health portfolio company — and Olive are both newly-minted unicorns, each valued at over $1B. Calm, which reached unicorn status in early 2019, is now valued at $2B. StartUp Health Follow Dec 9, 2020 · 4 min read

Sami Inkinen, CEO & Founder of Virta Health

We saw over $739M in health innovation funding this week. With its $65M Series D raise, StartUp Health portfolio company Virta is now valued at more than $1.1B. Led by Sequoia Capital Global Equities, which was joined by Caffeinated Capital, the financing will support the growing demand for Virta’s reversal treatments for type 2 diabetes and other chronic metabolic conditions. <source>

Other recent deals included:

Olive, a Columbus, OH-based company that has developed an AI workforce for the healthcare industry, is the second unicorn of the week. The $225.5M financing round — led by Tiger Global, with participation from General Catalyst, Drive Capital, Silicon Valley Bank, GV, Sequoia Capital Global Equities, Dragoneer Investment Group, and Transformation Capital Partners — brought Olive’s valuation to $1.5B. <source>

Everlywell, an Austin, TX-based company that specializes in home healthcare tests supported by their digital platform, raised $175M from BlackRock, The Chernin Group (TCG), Foresite Capital, Greenspring Associates, Morningside Ventures, Portfolio, and Highland Capital Partners. <source>

Pear Therapeutics, a Boston, MA-based prescription digital therapeutics startup, raised $80M led by SoftBank Vision Fund 2, with participation from Forth Management, Pilot House, Sarissa Capital, Shanda Group, QUAD Investment Management, Temasek, 5AM Ventures, Arboretum Ventures, JAZZ Venture Partners, Novartis, CrimsoNox, and EDBI. <source>

Calm, a mental wellness startup now valued at $2B, raised $75M led by Lightspeed Venture Partners, with participation from TPG, Insight Venture Partners, Marc Benioff, and Goldman Sachs Asset Management. <source>

Centivo, a self-funded health plan with offices in Stamford, CT, Buffalo, NY, and New York, NY, raised $34M led by B Capital Group, with participation from Define Ventures, HarbourVest Partners, Nassau Street Ventures, Bain Capital Ventures, Company Ventures, F-Prime Capital, Ingleside Investors, Maverick Ventures, Rand Capital, and various individuals. <source>

Apprentice.io, a Jersey City, NJ-based life science manufacturing software company that is helping to increase the speed to market on a number of COVID-19 vaccines, raised $24M led by Insight Partners, with participation from Pacific Western Bank, Pritzker Group Venture Capital, GFR Fund. and The Venture Reality Fund. <source>

Proscia, a Philadelphia, PA-based provider of digital and computational pathology solutions, raised $23M led by Scale Venture Partners, with participation from Hitachi Ventures and existing investors. <source>

MedArrive, a New York, NY-based startup seeking to bridge the gap between telehealth and in-person care, raised $4.5M co-led by Kleiner Perkins and Define Ventures <source>

Coviu, a Sydney, NSW, Australia-based telehealth startup, raised A$6M ($4.4M) from Equity Venture Partners, the Giant Leap Fund from Impact Investments, the CSIRO’s VC fund, Main Sequence Ventures, and the Medical Angels investment group. <source>

Folx Health, a Boston, MA-based consumer-facing virtual health services program designed for the LGBTQIA+ population, raised $4.4M from Define Ventures, Bessemer Venture Partners, and Polaris Partners. <source>

Wellory, a New York, NY-based nutrition and wellness startup, raised $4.2M led by Story Ventures, with participation from Harlem Capital, Ground Up Ventures, Sean Rad, Justin Mateen, Wayne Ellington, Hannah Bronfman, and others. <source>

StartUp Health company Babyscripts, a Washington, DC-based maternal health company, raised $4M from a network of existing Babyscripts customers including Banner Health; WellSpan Health; the Froedtert & the Medical College of Wisconsin health network; and the CU Healthcare Innovation Fund, part of the University of Colorado’s Anschutz Medical Campus. <source>

AceAge, a Burlington, ON, Canada-based healthtech company with an innovative medication dispenser, raised C$5M ($3.9M) led by Longliv Ventures, with participation from Bloom Burton Investment Group. <source>

Quell, a London, England, UK-based fitness startup, raised $3M from TenCent, Khosla Ventures, Heartcore, Social Impact Capital, JamJar Investments, Kevin Lin, Emmett Shear, Naval Ravikant, and Josh Hannah. <source>

LemonBox, a startup that sells American health supplements to Chinese millennials via online channels, raised $2.5M led by Panda Capital, with participation from Y Combinator. <source>

Neuroglee, a Singapore-based startup developing a digital therapeutic platform to treat patients in the early stages of neurodegenerative diseases, raised $2.3M led by Eisai Co. and Kuldeep Singh Rajput. <source>

Loop Health, a Pune, India-based tech-driven health insurance startup, raised $2.3M led by Sierra Ventures, with participation from Y Combinator, Soma Capital, Daniel Burka, Kevin Lin, Shiva Rajaraman, and others. <source>

Segmed, a Stanford, CA-based cloud platform that curates medical data, raised $2M led by Blumberg Capital, with participation from Nina Capital and angel investors. <source>