Participated · Series B · Nov 2020

Troy Medicare operates a Medicare Advantage plan that leverages partnerships with local, independent pharmacies and significant investment in technology to improve patient experience. The company emphasizes 100% transparent drug pricing, $0 generics at independent pharmacies, and no hidden fees for pharmacies or providers. Troy launched in October 2018 and is based in Charlotte, North Carolina. Its model focuses on personal, hyper-local care by using pharmacists’ existing relationships to drive care management and delivery. Troy plans to expand its offering to dual-eligible Medicare beneficiaries in 2021 and to continue growing its team and geographic footprint. The company aims to improve health outcomes and lower costs for underserved Medicare Advantage populations. Troy Medicare is a licensed health insurance startup based in Charlotte, North Carolina, building a Medicare Advantage plan that leverages pharmacists to lower total cost of care. The company provides technology, data, and a business model to enable pharmacists to deliver clinical services such as chronic disease management, smoking cessation, and diabetes prevention. Troy says pharmacists have been shown to reduce readmissions for complex care patients by 45%, and it intends to use frequent pharmacy interactions to drive better outcomes. The plan is the first Medicare Advantage plan to adopt the National Average Drug Acquisition Cost (NADAC) pricing standard to increase drug-price transparency for seniors and pharmacies. Troy reports the average senior visits one of its 21,000 pharmacies three times per month, and it launched its Medicare Advantage plan in North Carolina in 2019. The company raised financing to accelerate deployment of this pharmacist-driven model and support the plan’s launch.

Participated · Series A · Jan 2020

VEDA Data Solutions operates a platform that uses AI and machine learning to increase the accuracy of healthcare directories. The company was cofounded about five years ago by astronomer Dr. Bob Lindner and political entrepreneur Meghan Gaffney Buck. Gaffney Buck is the company’s CEO and Lindner serves as CTO. VEDA plans to use the new funding to expand its AI automation platform. Prior to this round the startup raised $2 million across two seed rounds. The $5 million Series A brings the company’s total venture capital raised to $7 million to date. VEDA Data Solutions builds a platform that keeps healthcare provider directories accurate by updating data every 24 hours and operating without a dashboard. The company was founded by Meghan Gaffney Buck and astrophysicist/CTO Bob Lindner. VEDA is seeking to introduce its platform to more health systems and insurers and plans to hire following the latest funding. Financially, the startup closed a $1 million seed round led by New Dominion Angels; this follows an earlier $1 million seed round in the fall also led by New Dominion Angels. Participating investors in the latest round included Riverbend Capital and Vidinovo. Buck has said that inaccurate directory data is a pervasive problem that collectively costs insurers $3 billion.