Led · Equity · Dec 2021

Quartet Health is an independent technology and services company that uses SmartMatch capabilities enabled by sophisticated data and analytics to connect patients to mental health solutions that fit their preferences, clinical needs, and insurance while linking care to the broader healthcare experience. The company works with health plans, systems, and provider groups to deliver speed to quality behavioral health care, defining quality by speed to care, seamless patient experience, improved outcomes, and affordability. To date nearly 300,000 patients have been referred to Quartet, roughly 80% from primary care; in the first eight months of its work with Independence more than 1,100 clinicians in Southeastern Pennsylvania signed up and over 2,500 members were connected to the platform. Quartet plans to continue enhancing its data and analytics to proactively identify and triage patients, expand an outcomes-driven provider network, and build actionable insights to measure and reward quality through value-based payment models. The company also intends to expand capabilities to support additional conditions such as substance use disorders and serious mental illnesses and to serve additional populations including pediatrics and transitional-age youth. Quartet is backed by venture investors including Oak HC/FT, GV, F-Prime Capital, Polaris Partners, Deerfield Management, Echo Health Ventures, Centene Corporation, and Independence Health Group. Quartet operates an integrated platform that links providers, payers and services to more effectively deliver mental and primary care. The platform supplies physicians with data to identify undetected mental health conditions, enables quick referrals to specialists, and allows providers to share treatment plans; patients receive personalized support from Quartet’s customer service team. Quartet announced a partnership with Cambia Health Solutions to connect mental health patients in the U.S. northwest to appropriate care, initially targeting Washington with plans to expand into Oregon, Idaho and Utah. The company said its Series D will fund expansion efforts and aims to reach Medicaid beneficiaries in need of behavioral health services. Quartet has raised roughly $161 million to date, following prior rounds led by GV (2016), F-Prime Capital Partners and Polaris (2018), and a June contribution from Centene Corporation. The company also experienced executive departures and negative Glassdoor reviews in late 2018. Quartet builds a HIPAA-compliant technology platform and services to integrate mental health into primary care and support collaborative care teams. Its Care Team product enables clinicians, clinically-adjacent providers, and community-based professionals such as case managers to coordinate care, share treatment plans, notes, and clinical assessment updates. Quartet provides physicians with data and resources to better identify patients with underlying mental health conditions and connect them to a trusted network of mental health providers. The company is expanding the Care Team product to support a broader set of members across the full patient journey, a change the company says is especially relevant for Medicaid beneficiaries served by FQHCs and community resources. Quartet announced a strategic partnership with Centene to improve access to mental health care for vulnerable populations. Financially, Quartet completed a $60M Series D round, bringing total funding raised to $153M. Quartet is headquartered in New York City and operates in multiple U.S. markets including Pennsylvania, Washington, Northern California, New Jersey, North Carolina, Louisiana, and Illinois. Quartet Health operates a platform that connects primary care doctors and mental health professionals to coordinate treatment plans and facilitate referrals. The company uses machine learning to help providers identify potential health issues and improve care coordination. Quartet currently operates in six U.S. markets: California, Louisiana, Massachusetts, New Jersey, Pennsylvania and Washington. It was founded in 2014 by CEO Arun Gupta. Quartet plans to use new capital to expand geographically, invest in its technology platform, hire for its machine learning team, and grow its provider network. The company recently added three new directors to its board as it scales. Quartet Health builds a platform that helps primary care doctors and mental-health professionals work together by using data and algorithms to identify patients at risk for comorbid conditions. When risk is detected, the platform refers patients to providers in Quartet’s network or to its online cognitive behavioral therapy and consultation tools. If a patient receives a new diagnosis, Quartet’s system enables coordination of tests, consultations, and prescriptions across providers. The company says it has traction from creating a comprehensive, point-of-care solution that leverages multiple care modalities. Quartet plans to use new capital to enter six new U.S. markets over the next year, including Massachusetts, the Midwest, and the West Coast. Founded in 2014 and based in New York, the company is led by CEO Arun Gupta.

Led · Seed · Mar 2017

VitalTrax provides a patient engagement solution for clinical trials consisting of a cloud-based enterprise platform and a mobile application called Wing. The platform enables clinical study teams to run trials and allows site teams to recruit and communicate with patients during studies. Wing lets patients search for trials, apply to volunteer, and stay involved throughout the trial. The company was founded in 2016 by Zikria Syed and is based in Philadelphia, PA. VitalTrax raised $150k in seed funding and intends to use the proceeds for continued product development.

Participated · Equity · Jun 2016

Relay Network provides a personalized mobile engagement platform that delivers individualized web-based mobile feeds via text links to guide customers through key moments such as onboarding, billing and renewals. Its solution reduces friction and achieves higher engagement than email, phone and mobile app notifications. Relay serves enterprise customers across healthcare, financial services, telecom and home services, and is used by organizations including Comcast, Independence Blue Cross and Citizens Bank. The company reports over 30 million active customer feeds, growing at over one million feeds per month. Relay plans to use new capital to accelerate innovation of its customer engagement platform and expand growth within its three primary vertical markets: healthcare, financial services and home services. The company is based in Philadelphia and Radnor, Pa. Relay Network provides businesses with a private, secure communications network to engage and service their customers and enable more digital interactions by connecting customers to personalized information and support. The platform is used by companies including Independence Blue Cross and Citizens Bank. Led by CEO and co-founder Matt Gillin, Relay Network is based in Philadelphia, PA. The company raised $12M in the reported round and has now raised $28M in total funding. Relay Network said it will use the funds to continue scaling the platform and operations.

Participated · Equity · Jul 2015

Accolade offers a connected advocacy platform that pairs dedicated Health Assistants and clinicians with an advanced machine‑learning engine, mobile and online messaging, and an integrated benefits center to personalize member experiences. The service drives increased program utilization through member activation campaigns and intelligent insights, coordinating with providers and benefits partners. Accolade reports strong operating metrics in the article, including Net Promoter Scores of 60 and higher, 98% consumer satisfaction ratings, and up to 15% employer cost savings. Its Humana with Accolade offering combines Humana’s provider networks and benefits programs with Accolade’s member engagement services. The companies plan to tailor the joint solution for a broader base of fully insured and ASO prospects and clients, enable robust integrations, and expand geographies in 2020 and beyond. Accolade says it will build out teams needed to support product and market expansion as part of the partnership. Accolade offers a personalized health and benefits solution that combines advisors, clinical experts and intelligent technologies to coordinate care and benefits for employers and health plans. Its technology stack includes the Maya intelligence engine with machine learning, an integrated member portal, the Accolade Mobile app and the Accolade IQ analytics and reporting tool. The company is led by CEO Rajeev Singh and serves more than 1.1 million U.S. employees and their families. Accolade said it will use the new funding to grow its workforce and expand its Personalized Advocacy solution. The platform connects personal health data and programs to present a single point of entry to effective health and benefits resources and coordinates with providers at every step. Accolade provides on-demand healthcare concierge services to employers, health plans and health systems, using a proprietary engagement and influence model to guide consumers through the healthcare system. The company combines data from hundreds of sources with personal insights from relationships between its health assistants and the individuals and families they support. Led by CEO Rajeev Singh and based in Seattle, Accolade emphasizes a data science strategy to personalize consumer interactions. It plans to use the new funding to expand its technology platform, increase R&D, and grow sales and marketing. Financially, the company has been raising a Series E since July 2015 and has secured more than $70m in the current tranche, contributing to a total Series E of more than $90m. Accolade is a cloud-based consumer healthcare engagement and influence platform that helps large self-insured employers and payer organizations guide consumers to providers and care. The platform integrates longitudinal consumer insights and proprietary algorithms to identify individualized care needs, match intervention types, optimize plans of action and personalize outreach across digital, mobile and personal channels. Accolade works with self-insured employers, health systems and health plans. Led by CEO Tom Spann and based in Plymouth Meeting, Pa., the company focuses on improving consumer navigation of healthcare and benefits. The company has announced a strategic funding infusion intended to strengthen its technology and analytics capabilities. The reported financing underscores its focus on expanding product and analytics resources to better serve enterprise customers.