Led · Equity · Nov 2023

Pillway is a tech-first, full-service digital pharmacy that integrates doctors, pharmacists, and patients through a connected platform. It focuses on chronic disease management and patients taking multiple medications, offering end-to-end vertical integration and a dedicated pharmacy care team that proactively manages each patient's medication journey. Pillway provides the technology platform and pharmacy services behind the Lumino Health Pharmacy app, which is available to Sun Life's Group Benefits clients across Canada. The company says it aims to accelerate growth and expand its technology-driven, personalized care offerings following the new investment. Financially, Pillway announced a $9.5 million minority investment from Sun Life with the opportunity for an additional $1.5 million and notes this is its second funding round after a $5 million seed from WELL Health in 2020. The partnership with Sun Life is framed as strategic, intended to reshape how individuals manage their health by improving convenience, efficiency and tailored health care.

Led · Series B · Sep 2023

Bowtie is a digital insurer focused on commission-free, pure-protection health and life insurance products, with VHIS plans as its flagship offering and additional critical-illness and term-life products. The company serves both individual customers and group clients, covering about 140,000 customers and 20,000 employees across 500 companies. Operating metrics include over HK$90 billion in total protection amount, annual recurring revenue above HK$250 million, roughly 1,000 new VHIS customers per month, and 50% year-over-year customer growth. Bowtie reports high service metrics: nearly 70,000 claims processed since 2019 with a 99.53% approval rate, over 250,000 customer inquiries handled, customer satisfaction above 90%, and retention exceeding 90%. The product suite has been expanded (including higher maximum sum assured up to HK$20 million) and Bowtie has formed partnerships such as a co-branded VHIS rider with CUHK Medical Centre. The company is investing in insurtech and AI across operations, aiming to improve efficiency and customer service and to become a top-three health insurer in Hong Kong within three years. Bowtie is a Hong Kong-based digital insurer that plans to offer a range of health-focused insurance products to Hong Kong consumers. It operates under Hong Kong Insurance Authority's "virtual" insurer license and will not maintain any physical presence for consumers, aiming to pass cost savings to customers and provide a more transparent online sign-up and claims experience. The company, founded just over one year earlier by co-CEOs Michael Chan and Fred Ngan, plans to launch in the first half of 2019. Bowtie announced a HK$234 million (about $30 million) Series A funding round to support platform and operations build-out. Management says it will operate independently of investor Sun Life Hong Kong with no customer- or data-sharing, while remaining open to potential future collaboration and regional expansion only after proving the model. Bowtie intends to base its development team in Hong Kong, supplementing hires with overseas talent where needed, and has recruited insurance hires from firms such as AIA, AXA, Chubb, Manulife, Prudential and Sun Life.

Participated · 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.

Led · Equity · Jul 2020

Dialogue is a Montréal-based telehealth company offering a virtual care platform that enables employers to give employees access to front-line healthcare providers via virtual visits. Founded in 2016 and incubated in Diagram Ventures, Dialogue targets employer-sponsored health services. The company plans to use the new funding to pursue acquisitions in the technology and healthcare-provider sectors and to expand clinical offerings into chronic disease management and women’s health. Dialogue’s platform is already positioned to power insurer offerings—Sun Life launched Lumino Health Virtual Care and said the solution would be powered by Dialogue. Financially, Dialogue raised C$43 million in the latest financing following a C$40 million Series B in June 2019. Sun Life’s investment includes a C$32.7 million equity injection and gives Sun Life a minority stake with rights to acquire additional equity (amount undisclosed). Dialogue is a Montreal-based virtual healthcare platform that provides employers and hospitals with integrated health-care services accessible via a mobile application or the internet. Founded in 2016 by Cherif Habib (CEO), the company offers employers access to front-line health-care professionals and licenses its AI-enabled triage platform to hospitals. Dialogue now has over 400 clients of all sizes, including National Bank, Lightspeed, Industrial Alliance, Air Canada Vacations, Stingray, Cirque du Soleil, Hopper and WSP. A pilot with the Centre hospitalier de l’Université de Montréal (CHUM) is underway and the triage technology is set to be deployed at Hospital Berlin-Buch to support emergency-room triage. The company will use the proceeds to maintain its position in Canada and continue expansion into the European market. Dialogue provides employers with a virtual platform offering integrated health care services that connect employees with nurses, physicians and allied health practitioners via mobile phone or computer. Led by co-founder and CEO Cherif Habib, the company targets employer-sponsored care and work-life balance optimization. Dialogue serves close to 150 employers across industries, including Cossette, Industrial Alliance, Osler, Ubisoft and Wealthsimple. It has secured distribution agreements with insurance partners such as Great-West Lifeco and SSQ Insurance. The company is based in Montreal, Canada. Dialogue intends to use newly raised funds to continue expansion and to launch new services. Dialogue operates a bilingual virtual platform for employers offering integrated healthcare services, including on-demand primary care, mental health therapy, and professional coaching. The company has recruited a group of generalist and specialist physicians to address a wide range of medical issues such as travel medicine, paediatrics, mental health, nutrition, and preventative care. Dialogue serves clients in Quebec and Ontario and counts McKinsey & Company, BCG, Power Corporation of Canada, and law firm BCF among its customers. The platform is fully bilingual and the company plans a pan-Canadian expansion. Led by co-founder and CEO Cherif Habib, Dialogue intends to use recent funding to accelerate its expansion into Ontario following its launch in Quebec. Financially, the company raised a $4M seed round to support growth.

Participated · Series C · Mar 2016

Maxwell Health offers a Health-as-a-Service platform that serves as an operating system for employee benefits, engaging employees and providing a centralized place to access health and benefits services. Its web portal and mobile app leverage data from multiple sources to enable more informed health solutions. The company’s technology is licensed by benefits brokers, TPAs, insurance carriers, PEOs, and other vendors for direct use with their employer clients. Led by Veer Gidwaney, Maxwell operates a marketplace of insurance, lifestyle, and financial products alongside its core platform. Following the recent fundraise the company plans to continue investing in its benefits and HR platform, its marketplace, and partner-facing solutions to serve small and mid-sized businesses across the country. Maxwell has raised $56.4M to date, including the newly closed Series C. Maxwell Health provides a Health-as-a-Service platform comprising a marketplace, a comprehensive benefits-administration system, and a mobile/web portal where employees access benefits, navigate healthcare, and manage health and wealth. The platform aggregates data from integrated services to deliver more informed health solutions and is licensed by benefits brokers, TPAs, carriers, and other vendors for use with their employer clients. Employers can offer fully- and self-insured medical plans, exchange products, dental, vision, life, disability, and financial benefits such as 401(k) and HRA/HSA/FSA through Maxwell’s system. Maxwell integrates third-party services including Doctor on Demand (telemedicine), Care.com (child care), Health Advocate (concierge services), HelloFresh (meal delivery), ID Watchdog (identity-theft protection), and BioIQ (biometric screening). Led by CEO and co-founder Veer Gidwaney, the company plans to use new funding to grow its team and continue expanding product functionality. The company operates from Boston, MA and New York, NY. Maxwell Health provides an enterprise software platform that helps brokers and employers (targeting companies with fewer than 1,000 employees) create and manage health insurance, payroll and a range of employee benefits, including 401(k)s. Launched in February, the company partners with insurance brokers—brokers pay monthly fees and the platform is free for employers—rather than trying to replace brokers. Its product set includes HR functionality from onboarding to retirement planning, private benefit exchanges that sync with existing plans, an employee incentivization system tied to fitness device data, and a concierge service that helps file claims, compare prescriptions and schedule appointments. The company reports a customer base "well into the triple digits," membership doubled over the prior six weeks, and revenue doubled quarter-over-quarter over the last six months. With new capital, Maxwell plans to invest heavily in customer service and to ramp up its sales and engineering teams. Maxwell Health operates a no-cost benefits-management platform for businesses that centralizes enrollment and administration for medical, dental, vision, life, disability, COBRA, HRA/HSA, FSA and 401(k). The platform gives employees a broader selection of insurance plans, advice on which to choose, and a portal to manage existing plans; employers get a dashboard to track hiring, employee engagement and company spending. Maxwell earns commissions on insurance plans chosen through the service. The company has dozens of businesses on board and is licensed to serve employers in 24 states. It launched in February and offers a concierge service that handles bills, insurance disputes and medical appointments, plus a wellness incentives program using fitness devices and points redeemable for rewards. Planned product additions include nurse on-call services and tracking/management for nutrition, sleep and stress. CEO and co-founder Veer Gidwaney said the new funding will be used to add features, increase outreach and build distribution.