Participated · Series A · Sep 2018

Founded in 2015 and based in San Francisco, CA and Cambridge, MA, Cricket Health delivers value-based care for patients with chronic kidney disease and ESKD. Its StageSmart™ predictive analytics model identifies patients in stage 3b and beyond with 96 percent accuracy, enabling risk stratification for plans and providers. The company provides stage-specific care through MyCricket™, a comprehensive patient support service that includes a multidisciplinary care team, peer support, and virtual, telephone, or in-person resources. Cricket Health reports that its evidence-based approach increases transplant referrals, raises utilization of home dialysis, and reduces unnecessary hospitalizations for patients who progress to ESKD. The company intends to use the new funding for rapid expansion to meet demand for its care model across the United States. With the Series B, Cricket has raised more than $120 million in equity and debt financing to date. Cricket Health provides personalized, evidence-based care for chronic kidney disease (CKD) and end-stage renal disease (ESRD) through a multidisciplinary care team. The company partners with payers and providers to identify at-risk patients, intervene early to slow disease progression, and educate patients about treatment options. If patients progress to ESRD, Cricket supports transplant, home dialysis, conservative care, or in-center dialysis. Cricket has signed payer deals in California with Blue Shield of California and Cigna and says it serves patients in current markets including California and Texas, with plans to expand to other states. In October 2020 the company received $15 million in debt financing from K2 HealthVentures to support growth, add payer customers, and support more nephrology practices. Founded in 2015 and based in San Francisco and Cambridge, Cricket's leadership includes experts in nephrology, health care, and technology. Cricket Health provides tech-enabled integrated nephrology and dialysis care to CKD and ESRD patients, working with risk-bearing payers and health systems to identify high-risk patients before kidney failure. Founded in 2015 and based in San Francisco, the company focuses on preserving kidney function and delaying progression to dialysis. Its care model combines a nephrology practice (remote, in-person, and at-home care), a multidisciplinary care team, patient education and 24/7 peer and clinical support technology, and dialysis delivered at home or in redesigned centers. Treatment priorities include slowing kidney-failure progression, keeping patients out of the hospital, ensuring prepared transitions, and supporting patients on any ESRD treatment path. Cricket plans to use new funding to expand tech-enabled programs and its clinical presence, further develop care management for ESRD patients to delay dialysis, and create new home dialysis and in-center programs. Recent leadership additions include Chief Medical Officer Carmen A. Peralta, MD, MAS, and Chief Business Officer Danny Shapiro; medical advisors include Glenn Chertow, Michael Shlipak, and Joel Glickman. Cricket Health provides scalable solutions for patients managing advanced-stage CKD and ESRD, including patient education and clinical support. Its first product, Health Options Patient Education (HOPE), connects advanced-stage CKD patients to content, clinical expertise and a network of healthcare professionals, peers and mentors. The company is also developing machine-learning algorithms to identify persons with CKD within hospitals' electronic health record data. In addition, Cricket is building knowledge-rich decision-support systems to improve CKD management across the patient journey. Leadership includes co-founder and CEO Arvind Rajan and co-founder Vince Kim. The company completed a $2.5M seed funding round reported in October 2016.

Participated · Series C · Jul 2017

Gravie is a Minneapolis-based health benefits company on a mission to make healthcare more affordable and accessible for employers and their employees. The company offers both level-funded group health plans and Individual Coverage Health Reimbursement Arrangements (ICHRA), providing employers flexibility in benefits design. Gravie partners with brokers and employers of varying sizes across the country to deploy its solutions. The company has raised a total of $463 million in capital to date. Management said the latest funding will be used to support expansion, product development, and go-to-market initiatives. Gravie also announced the appointment of Eric Murphy, a former Optum leader, to its board of directors to provide strategic guidance as the company scales.

Participated · Series B · Aug 2016

Elation Health provides a clinical-first technology platform built on a collaborative EHR to support primary care practices. Since 2010 the company has focused on solutions that help practices start, grow, communicate, and deliver personalized care. It serves roughly 24,000 clinicians caring for millions of Americans and counts Crossover Health, Cityblock Health, and Firefly Health among its customers. Led by CEO Kyna Fong, Elation positions itself as a backbone for primary care innovators. The company plans to use new capital to continue expanding operations and broadening its business reach. Elation Health provides an easy-to-use, API-enabled clinical technology platform that includes an EHR, enterprise APIs, revenue cycle services, a patient engagement app, and interoperability partners for independent primary care. Founded in 2010 by siblings Kyna and Conan Fong, the company powers a network of more than 14,000 independent primary care clinicians caring for seven million patients. This year Elation surpassed a milestone of delivering over 20 million in-office and virtual visits through its provider network. In response to the COVID-19 pandemic, Elation added HIPAA-compliant telehealth, deeper support for Medicare and Medicaid quality programs, and new patient engagement capabilities. It partners with primary care innovators such as Crossover Health and Cityblock Health to provide the underlying clinical platform for technology-enabled, team-based care. The company plans to continue investing in its core platform while adding billing and payment collection, patient population management, interoperability, and quality reporting capabilities to support independent practices shifting to value-based, data-driven care models. Elation Health is a cloud-based, patient-focused care platform that connects patients to their providers in a dynamic health information network. The platform enables providers in different organizations to share information and collaborate on mutual patients at the point of care. Founded by Kyna and Conan Fong and formerly known as ElationEMR, the company is based in San Francisco, CA. Elation Health raised $15M in a Series B led by DFJ, with participation from Martha Marsh and Charlie Cheever. The company is also backed by Aberdare Ventures. It will use the funds to expand operations.

Participated · Series C · Apr 2016

Adavium Medical, formerly ADVANCE Medical, operates two divisions: medical devices and clinical diagnostics. The medical devices division focuses on aesthetics, dermatology, plastic surgery, vascular surgery and gynecology, while the clinical diagnostics division offers equipment and reagents used by clinical laboratories. The company partners with international companies to introduce products to Brazil and develops and commercializes proprietary, value-based products aimed at unmet needs in the market. Led by CEO Fred Aslan and with Claudia Goulart newly added as COO and President of the Diagnostics division, Adavium is expanding its strategic capabilities. It raised $21m in Series C financing and is using the proceeds to finance acquisitions and strengthen its strategic capabilities. As part of that strategy the company announced acquisitions of Brazilian clinical diagnostic companies Alka Tecnologia and Hemogram Industria e Comercio.

Participated · Equity · Dec 2015

NxThera pioneered its Convective Water Vapor Energy (WAVE™) platform to treat endourological conditions, beginning with benign prostatic hyperplasia (BPH). Its lead product, the Rezūm System, uses radiofrequency energy to create sterile water vapor (steam) that delivers precise thermal treatments with minimal discomfort. Rezūm has shown improvements in lower urinary tract symptoms (LUTS), urine flow and quality of life and received FDA clearance in August. The company intends to use recent proceeds to expand sales of the Rezūm System across urology clinics, surgical centers, the U.S. and selected international markets. NxThera is furthering R&D to apply the WAVE platform toward treatments for prostate cancer and kidney cancer. The company was founded in 2008 and is led by president & CEO J. Robert Paulson, Jr., and is based in Maple Grove, Minnesota. NxThera develops and commercializes the Rezūm System, a sterile water vapor (steam) endourology platform that delivers targeted, office-based treatments for benign prostatic hyperplasia (BPH). The procedure is designed to be simple, take only minutes, cause minimal discomfort, and improve urine flow and quality of life. The company announced receipt of the CE Mark for Rezūm and an initial closing of an $18.2 million Series C financing. NxThera will use the Series C capital to conduct a U.S. pivotal clinical trial seeking FDA clearance, begin targeted early commercialization in selected European countries in 2014, and expand applied research and feasibility studies into prostate and kidney cancer applications of its steam technology. Founded in 2008 and based in Maple Grove, Minnesota, NxThera positions its sterile water vapor platform as applicable across multiple endourology conditions. NxThera develops a minimally invasive vapor ablation therapy platform intended to improve urinary flow and patient quality of life for endourology conditions, starting with BPH. The company is led by president and CEO Bob Paulson. NxThera completed a $12.6M Series B equity financing to support regulatory and clinical efforts. It intends to use the capital to initiate a pivotal BPH clinical study outside the United States and to obtain CE mark approval for introduction in the European Economic Area. The company has also begun the process of seeking FDA approvals to undertake a second arm of the BPH clinical study in the U.S. In conjunction with the financing, Glen D. Nelson, M.D., joined NxThera’s board of directors. NxThera is developing minimally invasive treatments for enlarged prostates by using vapor injections and thermal energy to kill prostate tissue. The company is based in St. Paul. According to SEC filings, NxThera recently raised $2 million through the sale of equity and warrants. Since last December the company has raised $4 million from the sale of equity, with investors including Arboretum Ventures, Aberdare Ventures and GDN Holdings. The article notes GDN Holdings is run by former Medtronic vice chairman Dr. Glen Nelson. CEO Robert Paulson previously led Restore Medical Inc., which Medtronic purchased in 2008 for nearly $30 million. NxThera is a St. Paul, Minn.-based startup developing ways to treat enlarged prostates by using vapor injections and thermal energy to kill tissue. The company raised $1 million through the sale of debt and convertible notes, according to a U.S. SEC filing. The SEC filing did not identify the purchasers. In December the company previously raised $3 million from investors including Arboretum Ventures, Aberdare Ventures and GDN Holdings. CEO Robert Paulson formerly led Restore Medical, which was acquired by Medtronic in 2008 for nearly $30 million. NxThera is pursuing a device-based approach to prostate-enlargement treatment and has supplemented development funding with both debt and convertible instruments.