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Providence Ventures

1801 Lind Ave SW, Seattle, WA, 98057, United States

Overview

Providence Ventures generally targets mid-to late-stage venture investments across Healthcare IT, MedTech, and tech-enabled services. Over the life of an investment, they seek to deploy $8 to $15 million. Their best opportunities to add value are investments that align the interests of their portfolio companies and the innovation priorities of Providence Health & Services, through broad solution deployment and strategic insight. The innovation opportunities PHS targets as a large health system tend to reflect the priorities of the US health system overall. They welcome the opportunity to partner with established venture funds as co-investors, however, syndication is not a prerequisite for their participation. Providence Ventures is founded in 2014 which manages $300 million in venture capital funds on behalf of Providence St. Joseph Health (PSJH), one of the largest integrated health systems in the US. The company's​ mission is to achieve venture and growth equity class returns through direct investments in innovative healthcare companies that improve health outcomes, lower costs, and enhance the experience of our patients and caregivers. It offers investment capital, combined with health system expertise, to companies addressing existing and emerging pain points in healthcare. Providence Ventures partners with our portfolio companies to refine existing solutions, while expanding their adoption within and beyond our health system.

Total investments
24
Lead investments
7
Investments · 12mo
2
Active investors
5

Sector focus

  • Asset Management
  • Business Development
  • Financial Services
  • Health Care
  • Venture Capital
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Investment portfolio

  • Karoo Health

    Led · Series A · Jul 2026

    Karoo Health builds an operating system for cardiovascular care that unifies clinical, claims, pharmacy and patient data to enable earlier risk detection and coordinated care. The company operates programs with national and regional health plans and supports a network of more than 600 cardiology providers across 11 states. In deployed programs, independent analyses reported reductions of more than 40% in emergency department visits and inpatient admissions and early results showing greater than a 10% reduction in total cost of care for attributed populations. Karoo plans to continue developing its AI-native platform—advancing predictive models and clinical signal detection—and to expand its engineering and clinical teams. The company will also scale deployments with payer and provider partners nationwide. Karoo announced the $16.2 million Series A in July 2026.

  • Greater Good Health

    Led · Series B · Mar 2026

    Greater Good Health partners with health plans, hospital systems, and provider groups to offer nurse practitioner–led primary care clinics and embedded clinical programs that lower total cost of care while improving quality and access. The company currently serves more than 200,000 patients through its clinics and integrated services platform, achieving 4-plus STAR quality scores, over 200 % growth in preventive-care engagement, reduced unnecessary acute admissions, and a Net Promoter Score above 90. Its first three clinics launched in Montana with Humana, and a fourth clinic opened in Idaho with Blue Cross of Idaho, highlighting the model’s scalability in underserved, aging markets. Based in El Segundo, California, Greater Good Health focuses on Medicare adults and addresses the national shortage of primary care physicians by elevating nurse practitioners to lead care teams. The organization functions as an extension of risk-bearing entities, supplying the infrastructure and staffing needed for longitudinal, value-based care management. With fresh capital, the company plans to deepen payer partnerships, strengthen its technology-enabled care platform, and expand into additional geographies.

  • TailorMed

    Participated · Equity · Nov 2024

    TailorMed provides an enterprise platform that manages the full lifecycle of patient support programs to reduce cost barriers and improve medication access and adherence. The company has built the nation’s largest Affordability Network, deployed across more than 800 hospitals, 1,300 clinics, and 650 pharmacies. TailorMed integrates directly with manufacturer assistance programs to automate patient support and streamline stakeholder workflows. Having reached an inflection point in its network evolution, the company is expanding into an end-to-end platform to tackle cost, access, and adherence across the medication continuum. The new financing will fund that expansion and broader efforts to create a seamless flow of data and resources across patients, providers, pharmacies, life sciences, and payers. TailorMed frames this work as addressing affordability at the point a prescription is written or dispensed to prevent delayed or skipped treatments. TailorMed Medical provides a technology platform that automates identification of financially at-risk patients and matches and enrolls them in financial resources such as co-pay assistance, replacement drug programs, government subsidies, community and state resources, disease-specific foundations, and programs addressing living expenses. Its platform is designed to reduce out-of-pocket responsibility for patients, helping to eliminate downstream financial hardship and avoidance of care. For health organizations, TailorMed shifts financial assistance from reactive matching or downstream collections to a proactive, point-of-care approach. The company serves physician practices, specialty clinics and health systems, and in 2021 expanded adoption into pharmacies nationwide. TailorMed said it will use the new funding to further expand its reach across health care with innovative financial solutions. Srulik Dvorsky is CEO and co-founder and the company is based in New York City.

  • Livara Health

    Participated · Series B · May 2024

    Livara Health provides a value-based MSK management solution that combines care planning, virtual-first care delivery, and care navigation. The company uses a biopsychosocial approach across virtual and in-person pathways and reports fewer surgeries, injections, and opioid use versus traditional conservative treatment. Livara has treated over 120,000 people and entered 2024 with nearly 4 million people eligible to access its MSK platform via health plan and provider partnerships, including Medicare and commercial populations. It partners with payors and providers under flexible value-based payment arrangements and can assume the total cost of musculoskeletal care for partners. The new funding will accelerate innovation of Livara’s technology and clinical capabilities to expand its proprietary care delivery model and manage additional risk for partners. Formerly SpineZone and operating for over 17 years, Livara aims to grow all populations served and broaden its clinical programs. SpineZone delivers personalized exercise curricula for neck and back pain through a virtual physical-therapy platform augmented by in-person clinics. Patients answer intake questions via smartphone or laptop and then follow evidence-based exercise videos created with healthcare professionals. The in-person clinics provide hands-on support and help translate a video repository with tracked outcomes into real-world care. The company reports "1 million lives under management" and cites partner results such as a 50% reduction in surgery rate and Sharp Community Medical Group saving $3.4 million over two years. Its business model charges clinics based on members served per month and incorporates shared-upside/shared-downside agreements tied to cost outcomes. SpineZone positions itself against other musculoskeletal digital health startups and is pushing toward greater adoption of value-based care, projecting value-based revenue to reach about 50% in the near future.

  • Praia Health

    Participated · Series A · Apr 2024

    Praia Health operates a consumer experience orchestration platform that identifies patients with lab orders and delivers tailored notifications and cards within a health system’s mobile app or logged-in web experience. The platform enables patients to schedule lab tests ordered by their physicians and find the closest appropriate Labcorp facility, accounting for service availability, operating hours, and staffing. Praia announced a strategic investment and collaboration with the Labcorp Venture Fund to streamline and personalize the patient experience for lab orders and testing within select health systems. The collaboration will initially launch at Providence’s Puget Sound location. The article does not disclose revenue, user metrics, or the investment amount. Praia Health is a Seattle-based digital health company and consumer platform for health systems that aims to deliver individualized health solutions at scale. The company was incubated at Providence and is led by CEO Justin Dearborn. Praia operates an Ecosystem Partner program with seventeen digital health partners, including Atlas Health, Cedar, DexCare, Foodsmart, Omada Health and others. Xealth serves as Praia Health’s clinical integration partner and brings over 50 additional connected digital health partners into the company’s ecosystem. Praia has also secured channel partners including Panda Health, the AVIA Marketplace, Xealth, and West Monroe. The company raised $20M in a Series A to bolster the platform’s capabilities.

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