• Augmedix

  Participated · Equity · Apr 2016

  Augmedix delivers AI-powered ambient medical documentation and data solutions that convert natural clinician–patient conversations into medical notes clinicians can review, finalize, and transfer in real time to the electronic health record. Its technology targets both ambulatory care and, through a new collaboration, the acute care setting. The company plans to work with HCA Healthcare to advance AI-powered ambient documentation products for acute care clinicians and to accelerate development of products such as Augmedix Go. Augmedix raised approximately $12 million in new equity from HCA Healthcare and Redmile Group via a combination of new common shares and pre-funded warrants priced at $1.60 per share. The financing also included issuance of conditional “break even” warrants tied to specific future financing events. Management says the new capital, together with existing cash and availability under an existing debt facility, should enable the company to reach cash flow sustainability and avoid additional equity raises, with breakeven expected as it exits 2024. The company and Redmile have also agreed to finalize within 30 days an equity line option of up to $5 million at $1.60 per share that could be accessed 12–18 months after finalization, although management does not anticipate using it. Augmedix provides remote medical documentation and live clinical support, converting natural clinician–patient conversation into medical documentation using proprietary automation modules and human-expert assistants operating in HIPAA-secure locations. Its platform supports over 35 specialties and is used by more than one dozen American health systems and hundreds of independent clinicians across medical offices, clinics, hospitals and telemedicine. The company estimates its solution saves clinicians 2–3 hours per day, can increase productivity by as much as 20%, and improves clinicians' satisfaction with work-life balance by over 40%. Augmedix completed a fourth quarter 2020 capital raise and achieved an OTCQX listing, and management cites strong financial performance. In March 2021 the company refinanced its long-term debt to enhance the balance sheet and significantly extend operating runway. Proceeds from the refinancing were used to pay down existing long-term debt and for working capital and general corporate purposes. Augmedix offers a platform that converts natural clinician–patient conversation into medical documentation and delivers live clinical support such as referrals, orders, and reminders. Its platform combines proprietary automation modules with human-expert assistants operating in HIPAA-secure locations to produce accurate, comprehensive, and timely documentation. Augmedix says its services are compatible with over 35 specialties and are trusted by more than one dozen U.S. health systems across telemedicine, clinics, and hospitals. The company estimates its solution saves clinicians 2–3 hours per day, can increase productivity by as much as 20%, and improve certain clinicians' work‑life balance by 49%. Management said the COVID‑19 pandemic has accelerated telemedicine adoption and highlighted Augmedix’s competitive advantages. The company plans to broaden operational capabilities, accelerate technology research and product development, and strengthen marketing and sales following the financing. Augmedix provides real‑time medical documentation by turning natural clinician–patient conversation into notes via a platform powered by proprietary natural‑language‑processing technology and medical documentation expert teams. The company supplies clinicians with hardware (Smartphones or Google Glass) to securely stream visits to its cloud‑based platform, where tech‑enabled remote specialists and proprietary automation modules generate comprehensive documentation. Its service covers more than 25 specialties and supports most EHRs. Fifteen national health systems, including Sutter Health, CommonSpirit Health, and US Oncology, representing over 10% of clinicians in the U.S., have partnered with Augmedix. The company is led by CEO Manny Krakaris. It raised an additional $19M in Series B financing to accelerate product development, including automation capabilities, and to scale its technology‑enabled service across health systems and private clinics nationwide. Augmedix offers a Google Glass-powered remote scribe service that lets physicians retrieve patient history and document visits without interacting with a computer; chart notes are created in real time by remote scribes in secure HIPAA-compliant facilities. The service enables physicians to review notes and provide patients with visit summaries and care instructions. Augmedix complements its core offering with enterprise support services including staffing, quality assurance, network and technical support, analytics and business process improvement. The company has received more than $60 million in venture funding since founding. It intends to use the new funds to further scale its service nationwide and build out its platform with new tools and services.

• Carena

  Participated · Equity · Jun 2015

  Carena builds and operates telemedicine technology that runs virtual doctor appointments, including a Virtual Clinics platform that lets doctors and nurse practitioners diagnose minor illnesses over video. The platform supports video consultations and can triage patients to in-person care when necessary. The company says it now works with over 120 hospitals and its virtual care services are available for 18 million people. Carena recently closed a $6M funding round, bringing total funding to more than $30M. Founded in 2000 and led by CEO Ralph Derrickson since 2006, Carena’s past backers include Cambia Health Solutions, Catholic Health Initiatives, McKessen Ventures and Martin Ventures. The company confirmed the recent funding but declined to provide further details; it faces competition from dozens of telehealth providers nationwide. Carena provides telemedicine Virtual Clinic solutions to hospital systems, offering software, staffing, operations management, and provider education through Carena University. Its system-branded virtual clinics deliver 24/7 on-demand care by phone, tablet, or computer from board-certified clinicians. Today approximately 13 million people in 14 states have access to Carena partner-branded virtual clinics. Typical visits last about 20 minutes and commonly treat conditions such as cold, pink eye, rash, flu, sore throat, and urinary tract infection; 97% of patients reported they would use the service again. Carena reported significant growth and said it was on track to more than double its revenue in 2015. The company is using new funding to accelerate execution of its strategy to expand telemedicine services within health systems. Carena provides a technology-enabled care delivery model offering 24/7 access to care by phone, secure video, and house calls, supported by physicians and advanced registered nurse practitioners. The company has developed proprietary clinical decision-making software and delivery systems designed to minimize variation in care, reduce costs, and ensure quality. Carena serves self-insured organizations, health insurers, and health systems, and its services are intended to complement patients’ primary care providers when those providers are unavailable. The company has operated programs such as Franciscan Anytime in partnership with Franciscan Health System since January 2011, receiving high satisfaction scores from participants. Carena completed a $14 million financing led by Catholic Health Initiatives to support expansion. It plans to use the new funds to enhance delivery-system technology, scale operations into additional states beyond Washington and California, and launch additional product lines over the next couple of years.

• Welltok

  Participated · Series D · Jan 2015

  Welltok is a Denver, Colorado-based enterprise Software-as-a-Service company focused on consumer health. The company provides a consumer activation platform that systematically applies machine learning to healthcare and non-healthcare data to understand and predict individual needs. It connects consumers with ROI-based programs and resources intended to activate and engage them in their health. Welltok also offers technology-enabled services that leverage advanced analytics and multi-channel communications to reach consumers. The company raised $75 million in a Series E2 and said it will use the funding for continued product development, expansion into new market segments, and integration of acquired assets and capabilities. The business is led by chairman and CEO Jeff Margolis. Welltok raised $33.7M in a Series E and secured a $13M debt facility from Silicon Valley Bank. Participants in the equity round included New Enterprise Associates, Bessemer Venture Partners, Georgian Partners, Emergence Capital, InterWest Partners, Sigma Partners, HLM Venture Partners, Flare Capital Partners, Trustmark, Qualcomm Life Fund, Hearst Health Ventures, EDBI, Okapi Venture Capital and Miramar Ventures. The combined financing will be used to continue development of its CaféWell Health Optimization Platform and complementary technology-enabled healthcare service offerings, and to expand into new market segments. Led by chairman and CEO Jeff Margolis, Welltok provides the CaféWell Platform to help population health managers guide and incentivize consumers with personalized action plans, curated benefits, resources and rewards. The company’s technology-enabled services leverage advanced analytics and multi-channel communications to derive consumer insights and drive engagement. Welltok operates six office locations nationwide and has nearly 400 employees. Welltok is a US digital healthcare company. The company raised $45 million in a Series D+ funding round, according to the article. Investors in the round included EDBI, Georgian Partners, and Flare Capital. EDBI is described as the corporate investment arm of the Singapore Economic Development Board and co-invested alongside the other participants. The article characterizes the financing as a Series D+ but does not provide valuation, prior-round details, or operating metrics. No further information on use of proceeds or additional financial terms was included. Welltok, based in Denver, Colorado, builds the CafeWell Health Optimization Platform, an online and mobile health management platform. CafeWell curates health management programs, apps, and tracking devices and is available only through employers, health plans, or providers. The platform delivers personalized health plans with articles, videos, condition management programs, rewards for reaching health goals, and connections to coaches and health experts. Welltok also operates CafeWell Connect, a health and fitness data partner program, and CafeWell Concierge, developed via an integration with IBM's Watson. In March 2014 the company acquired wellness app maker Mindbloom and recently acquired Predilytics, a predictive analytics company; the company confirmed the latest financing was related to that acquisition. Financially, Welltok raised $21.3 million in a mix of equity and security (per an SEC filing), bringing total funding to at least $94 million to date; it had raised a prior round in January. Welltok operates the CafeWell Health Optimization Platform, which provides payers, providers and other population health managers the ability to guide and incentivize consumers to achieve optimal health. The platform is accessible via web and mobile and drives engagement by providing personalized guidance and leveraging social, gaming and cognitive technologies. Led by chairman and CEO Jeff Margolis, the company targets payers, providers and other population health managers. Welltok plans to use recent funding to accelerate growth through the launch of new products and services and expansion into new market segments. The company is based in Denver, Colorado. It recently closed a $37M Series D to support those initiatives.

No current team members are available.