Participated · Series F · Jan 2025

Innovaccer built a cloud-based data infrastructure that connects to major EHR systems and unifies patient, payer, pharmacy, and lab data to support applications for value-based care, population health management, and CRM. The company counts six of the U.S.’s top ten healthcare systems as customers and has expanded sales into insurers, pharmaceuticals, and government organizations. Innovaccer spent roughly two years and more than $100 million building EHR connectivity that underpins its platform. The company plans to layer multiple AI co-pilots and agents on top of that infrastructure, including an AI medical scribe, a prior-authorization simplification tool, and a denied-claims assistant, and intends to develop some solutions in-house while partnering with or acquiring other AI products. Innovaccer’s revenue has increased about 50% year-over-year for the past five years, and it is on track to hit $250 million in annual recurring revenue this year. CEO Abhinav Shashank says the company won’t seriously consider an IPO until it reaches $400–$500 million in ARR. Innovaccer offers a cloud software layer that connects to existing electronic health record systems, enabling healthcare providers to fetch, analyze, and activate siloed patient data without replacing legacy systems. Its platform creates a 360-degree patient view and gives clinicians deeper, near-real-time visibility into patient health by aggregating data from EHRs and patient-held sources. The San Francisco-headquartered startup, which began its journey in India, has amassed more than 50 customers including Banner Health, Roche, One Medical, CommonSpirit and Sentara. Innovaccer is focused on the U.S. market for the near term but plans to expand internationally in the future. The company was valued at $3.2 billion after a $150 million Series E and has raised over $375 million to date. It will use the new capital to accelerate research and development and to hire across product, engineering and customer-experience teams. Innovaccer provides a cloud-based data activation platform that connects healthcare data across systems to deliver unified patient records and enable interoperable applications. The company’s solution is deployed across 1,000 locations in the U.S. and has added customers such as Dignity Health, Cancer Treatment Centers of America, Embright, Valley Integrated Provider Network, and Lee Health in 2020. Innovaccer plans to use the new capital to launch Innovaccer Health Cloud, which combines its data activation platform and allows providers and partners to build interoperable third-party applications for improved patient engagement and outcomes. The company said it aims to achieve a five-year CAGR of 100% by the end of 2021. Financially, Innovaccer was valued at $1.3 billion following the latest financing and has previously raised capital including a $70 million Series C in February 2020. Innovaccer is a San Francisco-based healthcare technology company that leverages AI and analytics to automate routine workflows and reduce manual overhead. Its core product is a Data Activation Platform that unifies patient data via 200+ pre-built connectors from health plans, providers, pharmacies, labs and hospitals. The platform has made records available to more than 25,000 providers, helped unify over 3.8 million patient records and generated more than $400M in customer savings. Customers include healthcare institutions, government organizations and enterprises such as Catholic Health Initiatives, MercyOne, Orlando Health, Hartford Healthcare and Stratifi Health. Founded in 2014 by Abhinav Shashank and Kanav Hasija, the company plans to use new funding to expand its business reach and further strengthen the Data Activation Platform. Innovaccer aims to grow to 100 million unified patient records accessible to 500,000 care team members over the next few years. Innovaccer provides a healthcare data platform that simplifies complex data from across points of care, streamlines information, and delivers insights and predictions to support organizational goals. Its platform includes 200+ connectors to systems such as EHRs, HIEs, claims, and lab systems. Products have been deployed across more than 500 locations and are used by over 10,000 providers at institutions, government organizations, and enterprises. The company plans to use new funding to continue building the platform, improve AI-assisted decision support capabilities, and add to its connector set. Innovaccer was founded in 2014 and is led by CEO Abhinav Shashank, operating from San Francisco with offices across the United States and Asia. The company lists customers including Hartford Healthcare, University of California, Mercy ACO Iowa, and others.

Participated · Equity · Sep 2024

Habitat Health provides health insurance coverage plus medical and social care in its own centers and in participants’ homes, targeting older adults who want to maintain independence. The company partners with health leaders such as Kaiser Permanente to deliver care solutions for aging populations. It intends to use the newly raised funds to expand operations and advance its development efforts. The article reports the company raised more than $50M in funding. Named backers include Town Hall Ventures, New Enterprise Associates and Kaiser Permanente. Habitat also announced multiple senior leadership appointments, including Matthew Bennett as co-founder and CEO and Geoff Price as executive chairman; several other senior hires were listed.

Participated · Equity · Jul 2024

Q Bio is a U.S. preventive-health services platform provider. The company has built what it describes as the first clinical digital twin platform and offers medical imaging technology services. Recently Q Bio secured $27 million in a strategic financing. The round brings in a new investor, TELUS Global Ventures. Existing investors participating include Khosla Ventures, Andreessen Horowitz, Founders Fund and Kaiser Foundation Hospitals. The article frames the funding as a strategic expansion of the company’s investor base. Q Bio develops the Q Bio Gemini clinical digital-twin platform and the Mark I self-driving whole-body scanner. Gemini creates a scalable virtual model that reflects an individual’s physiological state and highlights important changes that can be shared with clinicians. The Mark I scans the whole body in 15 minutes or less without radiation, breath holds, or claustrophobia and is optimized for proactive care. The company says its computational biophysics approach is at least 10x faster than conventional MRI without loss of diagnostic quality, enabling cheaper hardware and lower operational costs. Q Bio plans to develop and expand access to its proprietary platform and scanning technologies to enable data-driven, proactive, and more affordable preventive care. Founded in 2015 and based in San Carlos, Calif., the company has raised more than $80 million in capital from a group of investors including Andreessen Horowitz and Kaiser Foundation Hospitals. Q Bio operates a proprietary platform that combines imaging, blood measures and selected biomarkers to produce a quantitative, clinically-relevant assessment of individual health. The company refined its imaging protocols and identified the most clinically relevant biomarkers during a multi-year stealth period. In 75 minutes or less members receive a comprehensive health picture and a web-based dashboard they can share with clinicians. Q Bio quietly opened to a limited membership in late 2019 and says it plans to open additional locations this year. The company was founded in 2015 and is based in Redwood City, California. Its stated mission is to make preventive health faster, better and more affordable so treatable diseases are caught earlier.

Participated · Series B · Aug 2022

Incredible Health operates a job-matching platform that initially targeted nurses and uses machine learning to screen and match healthcare workers with employers. The company plans to use new funding to optimize hiring workflow with ML-driven screening and matching, expand career support (skills growth, education, mobility and relocation), and add personalized features to its community hub. It is aiming to scale its platform to reach 90% of the U.S. nurse workforce and to expand into other healthcare roles facing critical shortages. The startup reported a more than 500% increase in revenue in 2021 and says more than 10,000 nurses join its marketplace every week. It claims to have reduced average time to hire to 14 days from an industry standard of 82 days, and that around 600 hospitals use its platform for permanent staffing, including more than 60% of top-ranked U.S. hospitals. Incredible Health operates a nurse-focused hiring platform that uses proprietary matching algorithms to pair nurses with hospital vacancies. The platform matches candidates and jobs using roughly 40–50 criteria supplied by both sides, and hospitals only see algorithm-selected candidates while nurses receive inbound employer applications. Since launching its recruitment platform in late 2017 in California, it has signed up 150+ hospitals and “thousands” of nurses. The company claims hires via its platform are three times faster (about 30 days versus up to 90) and deliver 25x hiring efficiency by reducing applicants reviewed from roughly 500 to about 20; it also reports average nurse outcomes of a 17% salary increase and a 15% reduction in commute time. Incredible Health charges hospitals a simple flat fee for permanent hospital roles (not travel/temp) and plans to use new funding to accelerate national U.S. scaling and expand from a hiring product into a career community for healthcare professionals. Financially, the startup raised a $15M Series A and has raised $17M in total to date.

Participated · Series C · May 2022

Tidelift delivers the Tidelift Subscription, a set of tools, data, and strategies to help organizations manage the health and security of the open source components in their applications. A central element of its model is paying independent open source maintainers behind thousands of components to ensure projects meet enterprise standards, with maintainer earnings tied to subscriber usage and no cap on potential earnings. The company positions itself as a bridge between enterprise application teams and open source maintainers to reduce risk and maximize value from open source. Tidelift cites increasing demand driven by supply-chain threats like Log4Shell and new U.S. government software security standards, including SBOM requirements. Customers and adopters named in the announcement include Fannie Mae, Bloomberg, Hughes, Adobe, NASA Jet Propulsion Laboratory, IEEE, the United States Geological Survey, and the United States Air Force. Tidelift was named a 2022 Gartner Cool Vendor and is hosting a free virtual event, Upstream, on June 7, 2022 to engage developers and maintainers. Tidelift is a startup founded by long-time open source engineers and executives that sells subscriptions providing assurances around security, licensing, and maintenance for open-source software. Its platform handles licensing and offers guarantees for critical vulnerabilities and long-term support, drawing on a model similar to Red Hat's commercialization of Linux. Since launch the company has expanded beyond JavaScript to cover Java, Python, PHP, .NET, and Ruby ecosystems and now covers hundreds of open-source packages including Apache Struts, Vue.js, Gulp, Carbon, Jekyll, Beautiful Soup, and Mongoose. Tidelift reported $1 million in open source maintainer commitments as of last September and counts Discourse among its customers. The company intends to use new funding to further expand package coverage and partner with more open source creators. CEO Donald Fischer leads the company. Tidelift professionalizes open source software by offering the Tidelift Subscription, a single source for purchasing and maintaining open source software with professional support and maintenance from experts. The Tidelift Subscription already supports an array of popular open source technologies and coverage is being added continuously. Tidelift leverages data from the open source project Libraries.io, which tracks more than 2.6 million open source packages and powers the subscription. The company is led by Donald Fischer, Havoc Pennington, Jeremy Katz and Luis Villa. Tidelift said it will use new funding to continue to expand operations. The company is based in Boston, MA.