Led · Series E · Jan 2025

Solera Health operates the HALO platform, a marketplace that connects payers, employers, and individuals to clinically validated digital health applications and turnkey programs. The company plans to expand the Solera HALO platform by building the HALO Cloud to unite its network of point solutions and simplify integration of hundreds of digital health applications. Solera has recently added virtual specialty care and solutions targeting cardiometabolic conditions such as hypertension, high cholesterol, diabetes prevention, and weight management. It also announced a strategic collaboration with professional services firm Aon to enable employers to deliver personalized health experiences and engage high-risk employees. Leadership changed when John Santelli, who joined in March 2024, transitioned from interim CEO to chief executive officer and intends to deepen integration into customers’ operations. Financially, Solera announced $40 million in new funding to support product expansion and operational scaling of its HALO technology and services. Solera Health is a Phoenix, AZ-based platform that supports an ecosystem of community and digital partners matching health plan members to chronic disease prevention and management, social determinants of health (SDOH) and behavioral health. Led by CEO Brenda Schmidt, the company serves as an integrated benefit network that connects patients, payers and physicians with community organizations and digital therapeutics providers. Solera consolidates fragmented programs and services into a single marketplace, allowing health plans and medical providers to increase consumer participation while lowering associated costs. The company raised $42M in Series C financing, bringing total funding to date to $72M. It intends to use the funds to address behavioral health and SDOH needs such as food insecurity, medically tailored meals, transportation, falls prevention and social isolation. Over the past 12 months Solera has expanded its network to support a broader array of lifestyle modification programs, including diabetes management, hypertension, stress, sleep, tobacco cessation and weight management. Solera Health provides integrated chronic disease prevention services that connect patients, payers and physicians with community organizations and digital therapeutics providers. It consolidates fragmented programs and services into one integrated network to increase consumer participation and lower associated costs for health plans and medical providers. Solera has built a national network of community organizations and digital DPPs including Weight Watchers, Lark, Retrofit and Noom. Since launch the company has grown to over 70 employees and has over 40 million covered lives under contract. Led by CEO Brenda Schmidt and based in Phoenix, AZ, Solera intends to use the new funding to expand its offering and business reach. The company has raised $30.3M in total to date. Solera Health is a technology-enabled personalized preventive health network that operates a marketplace connecting U.S. adults at risk for type 2 diabetes with CDC-recognized Diabetes Prevention Programs (DPPs). Led by CEO Brenda Schmidt and based in Phoenix, AZ, the company aggregates more than 850 digital, national, and community-based DPPs into one integrated network. Its national model was designed to consolidate fragmented programs and services to increase consumer access and participation while lowering associated costs for health plans and medical providers. Strategic partnerships include HealthSlate, Blue Mesa Health, Noom, Retrofit, Canary Health, Weight Watchers and organizations such as the Black Women Health Imperative. The company has raised $7M in total funding and recently closed a $4M Series A1 round. Solera will use the new funds to scale operations for the National DPP as a covered health benefit. Solera Health operates a proprietary SaaS platform that connects a national network of local community organizations and digital solutions to deliver chronic disease prevention programs. The platform supports administration and streamlining of National Diabetes Prevention Program (DPP) referrals, reimbursement and payment management, and aggregation of data and reporting. Its services simplify enrollment and support consumer engagement and choice for DPP offerings led by the CDC. The company is led by founder and CEO Brenda Schmidt and is based in Phoenix, AZ. Solera positions itself as a technology-enabled integrator across local and digital program providers to increase access to prevention services. It plans to use recent funding to advance its technology platform and scale operations.

Participated · Series C · Oct 2023

Headway is an NYC-based company building a mental healthcare system where patients can access insurance-covered therapists. It operates a provider network of 34,000 clinicians across race, gender, ethnicity and specialty who use its platform to run their private practices. Patients can schedule care within 48 hours via one-click booking or obtain care through referrals. The company focuses on simplifying private practice operations so providers can concentrate on delivering clinical care. Headway plans to accelerate platform development and expand into Medicare Advantage and Medicaid to reach millions more, according to CEO and founder Andrew Adams. The company recently raised $100M in a Series D to fund these efforts. Headway builds a healthcare system to help people find quality in-network mental health care by removing historic barriers faced by providers, payers, and patients. The company has developed a software-enabled network of therapists who accept health insurance and is powering more than 300,000 appointments per month. Launched in April 2019, Headway is led by founder and CEO Andrew Adams and is based in New York City. The company raised $125M in a Series C that valued it at $1 billion. Headway intends to use the funds to expand operations and broaden its business reach. The article does not disclose revenue figures. Headway operates a three-sided marketplace and back-end platform that helps patients find and afford therapists, enables therapists to accept a wider range of insurance plans, and provides insurers with a conduit to bring patients to in-network providers. The company’s platform is free for patients and aims to reduce the friction therapists face accepting insurance. Headway has expanded beyond its New York metro origins to cover multiple U.S. states and is aiming to be nationwide this year, while planning hires to grow its team to about 300 people. Operational metrics in the article note more than 3,000 therapists on the platform, roughly 2,000 new patients joining per month, and about 30,000 appointments per month (300,000 total facilitated to date). The company reports that 89% of appointments are currently remote and that revenue grew nine-fold in the past year. Headway will use the new funding to expand partnerships, accelerate hiring, and open in new regions. Headway operates a two-sided marketplace and software stack that helps patients find therapists who take insurance and helps therapists manage appointment booking, billing and claims. The company says it has about 1,800 therapists on its books in the New York area and that tens of thousands of patients have used the service. Headway does not charge patients or therapists; it takes a commission from insurance providers for enabling access to more therapists and billable work. The startup will use the Series A to expand to more cities, widen its pool of therapists and build more technology to improve search and recommendations. The company has noted a shift from largely in-person care pre-pandemic to roughly 90% virtual visits today and could extend into tools that support customer-facing telehealth workflows. Headway has not disclosed a valuation.

Led · Series F · May 2021

Collective Health offers a customizable digital platform and partner ecosystem that unifies employer benefits, provider networks, PBMs, virtual care, and digital health programs into a seamless member experience. The company’s products aim to reduce the administrative burden of delivering health benefits while guiding employees toward better health and employers toward lower costs. Collective Health reports a member satisfaction rate above 90% and has seen 10x member growth in recent years. The business is focused on expanding platform adoption and partner integrations to bring its experience to millions more Americans. The company plans to scale its technology and services further following a major funding round to accelerate deployment and market reach. Founded in 2013, Collective Health is headquartered in San Francisco and also has locations in Chicago and Lehi, Utah. Collective Health builds a unified software platform that reimagines how health plans work for employers and the populations they cover, combining claims and payments technology, a member app, and Member Advocates. Its patent-pending machine learning engine, CH Cortex™, identifies individual member care needs and drives navigation to appropriate partners and providers. The company serves more than 200,000 members across over 45 enterprise clients and integrates with roughly 80 health partners on its open platform. Collective Health plans to accelerate adoption across all 50 states by expanding national sales, engineering, and customer experience teams in San Francisco, Chicago, and Lehi, and to add new local and national network and digital-health partnerships. Product priorities include improving claims and payments speed, transparency around cost of care, faster fraud detection, and new employer-facing analytics through Collective Health Insights. The company will use the newly announced funding to expand its product and engineering team and advance four patents pending across its product suite. Collective Health builds the Health Platform, a workforce health management system designed with a consumer-grade user interface to make employer healthcare and financial information more accessible. The platform ingests eligibility files and medical, pharmacy, dental, and vision claims, plus utilization data and member search queries, then analyzes patterns to surface actionable insights. It automates vendor invoice verification to prevent overpayment and aims to reduce fragmentation caused by disparate legacy systems. The company emphasizes user experience to help employers understand plan mechanics, review claims, manage healthcare spend, and better utilize available programs for employees. Collective Health plans to use the new funding to grow its workforce, accelerate product development, and expand its U.S. presence with a new Chicago office and larger footprints in Georgia, New York, and Southern California. Leadership frames the product as a way to lower costs and inefficiencies, improve the experience for employers and workers, and reduce administrative burden with AI-powered automation. Collective Health offers an enterprise platform that lets employers pick and choose which benefits to cover, aiming to cut out traditional insurers and make coverage more efficient and less expensive. The company was co-founded by Ali Diab and Rajaie Batniji, a physician and political economist at Stanford, after Diab experienced a severe insurance denial. Collective Health is expanding beyond its Silicon Valley origins and plans to hire sales, marketing and infrastructure staff to increase availability in other U.S. cities. The startup expects to double in size in the next few years and has already doubled since its last round. As of 2016 the platform was on pace to serve 30,000 members and process more than $200 million in health insurance claims. The new funding will also support partnerships and cross-promotion with other healthcare organizations. Collective Health helps employers cut out the insurance-company middleman and create their own insurance plans through an employer self-insurance platform. The company builds an easy-to-use interface where employees can select the health services they need. Founded in 2013 and based in San Mateo, California, Collective exited stealth in August 2014. It currently serves only California-based employers but plans to expand its geographic coverage nationally starting in 2015. Collective announced it raised $38 million in a round led by Founders Fund and NEA, with Formation 8, Redpoint Ventures, RRE Ventures, Subtraction Capital, and Rock Health participating. The company said the new funding will enable it to meet rapidly growing demand for its employer self-insurance platform.

Participated · Equity · Sep 2020

MDLIVE operates a virtual primary care digital health platform that connects patients with a network of board-certified physicians, dermatologists, psychiatrists and therapists specially trained in virtual care. The company leverages technology and artificial intelligence to simplify and streamline care, often connecting providers and patients within minutes. MDLIVE serves more than 45 million members nationwide. It is focused on ongoing strategic expansion of its virtual primary care platform and the launch of supporting products and services. To support growth, MDLIVE recently completed new equity and debt financings. The company is led by chairman and CEO Charles Jones. Mdlive operates a HIPAA-compliant, cloud-based telehealth service platform that provides 24/7/365 virtual access to U.S. board-certified doctors, counselors, psychiatrists and dermatologists. The company partners with health systems, health plans and hospitals to offer virtual visits and registered users can receive consultations from home or on the go. Mdlive serves more than 27 million Americans through its platform. Founded in 2009 and based in Sunrise, Fla., the company focuses on expanding virtual access across multiple specialties. Mdlive intends to use recent financing to continue growing its reach. MDLIVE provides virtual consultations with U.S. board-certified physicians and licensed therapists through a HIPAA-compliant cloud-based platform. The system enables payers and providers to collect and share clinical data from patient medical records, lab results and in-home biometric devices for real-time risk assessments, wellness advice, diagnosis and treatment. MDLIVE partners with established industry players, including Walgreens, Microsoft and major health systems across the country. The company plans to use recent funding to continue organic growth and to expand its acquisition strategy and consumer reach. MDLIVE was founded in 2009 and is led by president and CEO Randy Parker. The company positions itself as one of the most comprehensive virtual health networks in the United States. MDLIVE provides telehealth, online and on-demand healthcare via a cloud-based Virtual Medical Office platform that connects patients, providers and plan administrators through voice, video, email and mobile devices. The company works with board-certified physicians and therapists nationwide to deliver 24/7/365 care, including diagnosis and non-controlled prescriptions for routine conditions. Its platform is HIPAA- and PHI-compliant and is used by consumers, employers, payers, hospitals, physician groups and accountable care organizations. MDLIVE positions itself as the nation’s largest telehealth network and emphasizes a customer-centric approach and decision-support tools for consumers. The company said it will use the new funding to further build out its healthcare system in the cloud and to integrate a Second Opinion program for patients. MDLIVE was founded in 2006 and is headquartered in Sunrise, Florida.

Participated · Equity · Nov 2018

ClearDATA provides a cloud computing platform and services that enable healthcare organizations to use public clouds while ensuring ultra-secure, compliant IT environments across AWS, Google Cloud Platform, and Microsoft Azure. The company’s core offering is HITRUST-certified security and compliance tooling and a comprehensive Business Associate Agreement tailored for healthcare customers. ClearDATA’s subscription services constitute a majority of its revenue and have grown approximately 100% year-over-year since its initial funding in early 2012. With the recent $26 million financing, the company plans to expand product innovation, scale and broaden its services, and enhance customer success to support larger enterprise customers. It also intends to increase sales and marketing resources to accelerate adoption of advanced technologies such as machine learning and AI in healthcare. ClearDATA aims to help more healthcare organizations safely migrate to public clouds and improve data sharing and interoperability to drive better patient outcomes. ClearDATA provides a HIPAA-compliant managed cloud platform that safeguards patient data and powers critical healthcare applications. The company uses compliance and security safeguards, purpose-built DevOps automation, and healthcare expertise to protect sensitive healthcare information. Led by CEO Darin Brannan, ClearDATA serves more than 350,000 healthcare professionals. It offers managed cloud services tailored to healthcare compliance and security needs. The company was selected to participate in the Amazon Web Services (AWS) Public Sector Partner Network. ClearDATA intends to use new funding to expand its marketplace presence and continue product innovation. ClearDATA is a Tempe, AZ-based healthcare cloud computing company that provides cloud computing, platform and information-security services to healthcare organizations. Led by CEO Darin Brannan, the company supports more than 320,000 practitioners who use its tools to store, manage, protect and share patient health information and applications. ClearDATA closed an over-subscribed $25M Series C to fund continued growth and product launches. Backers in the round included Heritage Group, HLM Venture Partners and Flare Capital Partners alongside existing investors Norwest Venture Partners, Merck Global Health Innovation Fund and Excel Venture Management. The company intends to deploy the proceeds to accelerate expansion and bring new products to market. ClearDATA offers a healthcare-centric, HIPAA-compliant cloud and managed infrastructure service, with custom-designed storage for health data and medical images. Its end-to-end offering helps healthcare customers move applications and data to the cloud and access them over a private Internet connection, with a data model that enables locating data for required HIPAA auditing. ClearDATA positions itself as an alternative to general-purpose clouds (AWS, Azure, Rackspace) by focusing on healthcare-specific security, compliance and operational needs. Customers range from small practices and clinics to hospitals and healthcare SaaS providers. The company says it will expand its platform and move into new geographies. Operating metrics in the article note ClearDATA serves over 300,000 healthcare professionals and hosts tens of millions of health records; it recently raised $14 million in Series B funding to support growth.