Participated · Equity · Sep 2024

Centivo builds employer-focused, primary care-centered health plans that combine an in-house virtual primary care practice (Centivo Care), direct contracts with accountable care organizations (ACOs) in 18 major markets, and a tech-enabled member engagement and plan administration platform. The company says its model can lower total cost of care by 30% or more, typically saves employers 15% or more, and increased utilization of primary and specialty care. In 2023 Centivo’s health plans achieved a 71% reduction in member out-of-pocket costs compared to the plans they replaced, and the company says its approach reduces annual employee out-of-pocket costs by nearly $1,200. Following Centivo’s acquisition of virtual-first medical provider Eden Health in May, the company expanded its PCMH-certified virtual primary care capabilities and integrated behavioral health into its platform. Centivo serves Americans in all 50 states across a diverse set of industries and plans to use recent capital to enhance and scale its product and technology and forge new strategic partnerships with health systems. Its stated mission is to bring affordable, high-quality healthcare to working families by curbing inefficiency and waste in employer-sponsored plans. Centivo offers health plans for self-insured employers anchored around relationships with accountable care providers and a primary-care-centered clinical model. Its plan designs include free adult and pediatric primary care for all visits, no deductibles, predictable copays for non-primary care, and integrated virtual primary care. Centivo says employers typically save 15–30% annually versus traditional insurance and that members’ medical and pharmacy out-of-pocket costs average under $350 per person per year. The company reports primary care utilization has increased by more than 30% while quality and member satisfaction have strengthened. Centivo serves employers ranging from 51 employees to Fortune 500 companies and has a market presence in 13 states. The company launched in 2019 and is pursuing rapid growth and expansion amid increased employer demand. Centivo is a Buffalo, NY-based health plan company led by CEO Ashok Subramanian. Its core product is a health plan anchored around providers of value-based care for self-funded employers. The company serves employer clients ranging in size from 100 employees to Fortune 500 companies. It recently launched a fully integrated virtual primary care-centered health plan in Florida. Centivo plans to use new funding for growth, expansion and development of products and services, including its virtual primary care-centered plan. By the end of 2022 the company’s health plan will be available in half of the top 20 metropolitan areas in the country, and it has a new strategic distribution arrangement with the Business Health Care Group in eastern Wisconsin. Centivo provides a benefits solution built for self-funded employers, offering affordable and predictable costs, a technology-driven member experience, and a range of benefit options including traditional and proprietary networks. The company develops high-value networks in partnership with local healthcare providers and uses data analytics to refine networks and direct members to appropriate providers. Members receive a primary care–centered model with expanded access and fully integrated virtual care. Provider partners include health systems such as Mount Sinai Health System, Orlando Health, Scripps Health, and UCLA Health, as well as independent practices. Centivo’s solution is available to mid-sized and large employers in New York, New Jersey, Connecticut, Southern California, Florida, and North Carolina, with plans to expand to additional markets in 2021. The company is led by CEO and co-founder Ashok Subramanian and has offices in Stamford, CT; Buffalo, NY; and New York, NY. Centivo is a New York City–based, new type of self-funded health plan built specifically for employers and their employees and families. Led by CEO and co-founder Ashok Subramanian, the company serves as a health plan or third-party administrator and partners closely with local health plans and TPAs to enhance offerings. Its model centers on an innovative primary care–centered network focused on outcomes, a dynamic benefit design that rewards members for high-value care and adherence, and a digital technology platform and concierge support to improve care and experience. Centivo is launching its product for the 2019 plan year, focusing on employers with employees in New York, New Jersey, Connecticut, and select other markets. The company plans to deploy capital to build technology and infrastructure, develop local partnerships, and support market launch.

Participated · Series B · May 2024

SwissDrones delivers an integrated aerial intelligence offering that pairs long-range unmanned helicopters with aviation-grade flight operations and large-scale data analytics for public safety, search & reconnaissance, and infrastructure inspection. The company announced it closed a Series B equity growth round on April 2, 2024, securing over USD 10 million from a consortium of investors including DiamondStream Partners, Chevron Technology Ventures, Ingleside Investors and continued commitments from existing shareholders. Proceeds will be deployed to expand SwissDrones' global footprint to address demand from corporate and public-sector customers. Management and investors emphasize the solution's ability to gather data more efficiently, at lower cost and with less risk to workers, enabling advanced field operations and improved safety. Chevron framed its investment as coming from its Core Fund, which targets high-growth startups and breakthrough technologies that could improve Chevron's core oil and gas businesses and create new growth opportunities. The financing supports scaling SwissDrones' integrated offering across energy infrastructure, emergency & safety, and environmental management.

Participated · Series A · Oct 2022

Volantio develops GreenLeaf, a machine-learning platform that optimizes revenue and capacity for fixed-capacity industries, with a strong focus on airlines. The platform shifts demand from nearly sold-out flights to those with more space to increase revenue, lift asset utilization, and improve customer and staff experience. Volantio says its software is automated, mobile-based, and targets post-booking re-accommodation to increase yield and reduce operational costs. The company has more than tripled its customers in the last two years and recently expanded into the live events market via a partnership with Disney Theatrical Group. Volantio plans to use new capital to scale its global team and accelerate product development. The company serves major airlines and entertainment brands globally and maintains a distributed team across the US, the Netherlands, Australia, India, and the Philippines. Volantio is a global leader in post-booking revenue and capacity optimization software for airlines, headquartered in Atlanta. Its flagship web-based platform, Yana, leverages machine learning to drive higher unit revenues and improve capacity utilization after customers have booked flights. Yana proactively identifies flexible passengers on high-demand flights, makes offers (upgrades, travel vouchers, frequent flier points) to move them to lower-demand flights, notifies passengers via mobile days in advance, and automatically rebooks accepted moves. The company says this improves overall customer experience, gives last-minute travelers access to otherwise full flights, and helps airlines maximize network capacity and unit revenue. Volantio has launched both revenue and operations versions of Yana with Qantas, Iberia, Volaris, and Alaska Airlines and reports additional carriers in the pipeline. CEO Azim Barodawala and company statements emphasize the platform’s operational benefits in irregular operations and disruptions.

Participated · Series B · May 2022

Mint House, founded in 2017 by CEO Will Lucas and based in New York, operates tech-enabled residential hospitality properties designed with full kitchens, expansive living areas and connected workspaces. Its proprietary tech stack and mobile-first model powers mobile check-in and keyless entry, pre-stocked groceries, 24/7 digital concierge services, on-demand fitness, smart thermostats and shoppable spaces. The company follows an asset-light operating strategy driven by long-term management agreements rather than traditional leases. Mint House currently operates 22 properties in 14 markets and reported growth of over 200% in 2021, having tripled its property count over the last two years. The company raised new capital to continue expanding its operations and business reach. Mint House offers apartment-style, tech-forward accommodations targeted at business travelers, using a mobile app for check-in, in-app messaging, and guest services. The company partners with multifamily developers and owners who typically lease between 20 and 200 units, and it provides an amenity-rich platform for all building residents. At the time of the article Mint House had 400 high-end residential units (200 in operation, 200 scheduled to open by summer 2019) and more than 250 additional units under contract. Mint House emphasizes delivering a top-rated guest experience and targets secondary cities with growing tech communities and business-traveler populations. The company plans to continue developing its technology, open in new buildings around the country, and increase staff to support future growth.