Tag Archives: Health Tech

How Two Founders Raised Millions During a Challenging Funding Market

April 4, 2024Business, Health, Innovation, Startups9amHealth, Anton Kittleberger, Funding, Health, Health Tech, Healthcare, Innovation, Logan Plaster, Matt Swanson, Reciprocity HealthNicole Kinsey

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As a healthcare startup, you can have the best idea in the world, but if you don’t have the capital to hire the right people, build your product, and survive a long sales cycle, you’re unlikely to have a huge impact. To put it simply, raising funds has been challenging for health startups over the last couple years.

In this StartUp Health NOW episode, we dive into the realm of funding challenges – and despite the hurdles, we bring you tales of hope and inspiration from two founders who successfully raised significant early capital.

First up is Matt Swanson, CEO & Co-founder of Reciprocity Health. Reciprocity Health – which joined the StartUp Health community in 2023 shortly after their launch – offers personalized digital programs with financial incentives for completing health actions, aiming to improve patient engagement. Despite being in business for just one year, Swanson and his team secured more than $5 million in funding to expand their innovative financial incentive program. Swanson shares the critical elements that paved the way for their successful first raise.

Next, we sit down with Anton Kittleberger, Co-CEO & Co-founder of 9amHealth. 9amHealth – which joined StartUp Health in 2022 – offers comprehensive care for chronic conditions like diabetes, hypertension, and obesity through a virtual clinic. Kittleberger and his team recently closed a substantial $9.5 million Series A extension, leveraging a unique leadership structure and capitalizing on emerging trends in the healthcare market. Discover how they navigated the challenges and capitalized on opportunities to propel their virtual clinic for cardiometabolic conditions to new heights.

Join us as we uncover the strategies, insights, and stories behind these funding successes. Whether you’re a seasoned entrepreneur or just starting out, this episode offers invaluable lessons and inspiration for anyone navigating the healthcare startup landscape. Tune in and get ready to be inspired!

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Qura’s Tiny Implantables Could Revolutionize How We Treat Hypertension

February 16, 2024Business, Health, Innovation, StartupsCure Disease, Dr. Hendren, Health Moonshot, Health Moonshot Update, Health Tech, Health Transformer, Health Transformers, Implantables, Innovation, Logan Plaster, Qura, Will HendrenNicole Kinsey

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When it comes to health technology, often the next big thing is really, really small.

Our guest on the show this week, Dr. Will Hendren, has seen personally that when it comes to implanting a medical device in the body, size matters.

Dr. Hendren spent decades as a surgeon working with rescue devices like pacemakers, which themselves have evolved from being the size of a pack of cigarettes to being smaller than a triple A battery. It doesn’t take a degree in biomechanical engineering to appreciate that you want a lower profile machine sitting next to your heart.

Now, with his company Qura – a member of the StartUp Health community since 2016 – Dr. Hendren is taking that concept to the next level. He and his team are the leading edge of miniaturizing medical devices to such an extreme degree that it opens up a whole new market for remote patient monitoring.

In our interview we’ll talk about how Dr. Hendren and his team have built an implantable the size of a vitamin that can take blood pressure readings passively and transmit that information to the patient and their caregiver wirelessly. We’ll talk about some of the tiny tech that it was necessary to invent in order to make this breakthrough possible, and we’ll talk about how remote monitoring at scale could be a gamechanger for hypertension and heart disease, which are two of the top causes of death globally.

Let’s get into it!

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10 Years Later: A Health Tech Investor Reflects on Her Early Days at StartUp Health

December 7, 2023Business, Health, Innovation, StartupsDigital Health, Funding, Health, Health Tech, investing, Irem Rami, Norwest, StartUp Health, startups, venture fundingNicole Kinsey

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Ten years ago, Irem Rami became one of the first Fellows to join StartUp Health. In her role she helped vet the very first companies to join our community. That was back when it seemed very audacious indeed to have a goal of supporting 1000 healthcare startups. A few years later and we’ve now welcomed 500 startups into the community and are still going strong. In that time Rami moved on, went to business school, and is now a principle health investor at Norwest, a $3B multi-stage fund.

We called up Rami up for this StartUp Health NOW podcast episode to give us that decade look back – you know, it’s hard to understand where you’re going if you don’t know where you came from. She’s got a unique perspective on the durability of the StartUp Health vision and what it means to chase the same seemingly impossible dream for more than 10 years.

We also wanted to hear Rami’s advice for health innovators seeking to raise funds in this difficult market. She evaluates opportunities on a daily basis and had some sage advice to share for our listeners.

Enjoy the episode.

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Quantifying Mental Health: How Mobio Interactive Is Unleashing Precision Psychiatry at Scale

October 5, 2023Business, Health, Innovation, StartupsBechara Saab, Digital Health, health innovation, Health Moonshot, Health Tech, Health Transformer, Innovation, Logan Plaster, mental health, Mobio Interactive, StartUp Health NowNicole Kinsey

Podcast: Play in new window | Download (Duration: 27:14 — 31.2MB)

There’s a phrase that gets thrown around a lot in business: “You can’t manage what you can’t measure.” It’s a quote attributed to Peter Drucker, the famed management consultant.‌

If business leaders such as Peter Drucker are right, not being able to measure the effect of an action would make it impossible to know if we should be doing more or less of that action – or if we should be doing it at all.

But if the saying is true in management, it’s even more true in clinical medicine in most areas of healthcare. Despite this seeming to be self evident, you’ve got to measure it to manage it yet there are still swathes of care that are delivered by some version of trial and error.‌

Our guest this week is Bechara Saab, PhD, CEO, Chief Scientist & Co-founder of Mobio Interactive, a company that joined the StartUp Health community in 2022.‌

Dr. Saab started as an academic researcher. It’s safe to say he loves measuring, loves gathering hard data and proving that he has found causation not just correlation in his work. So when his research introduced him to the modern world of mental health diagnosis and mental healthcare, he was taken aback by what he saw as a lack of solid objective measurements.‌

How could you help someone with anxiety, for instance, if you couldn’t accurately measure their anxiety before and after a treatment?‌

That is the thorny challenge that Dr. Saab is tackling with Mobio Interactive.

As you’ll hear, he’ll explain just how his research led to a solution that provides those objective measurements. His company, based in Singapore, came up with an accessible tool that provides clinically-validated therapy within a platform that objectively quantifies how a patient’s mental health is affected by therapy in real time and without a wearable, thereby allowing personalization of mental health therapy at scale.

Enjoy!

Innovators: Health Transformer University fuels your health moonshot

How GO-Pen’s “Insulin Pen for All” Is Making High-Quality T1D Care Globally Accessible

September 22, 2023Business, Health, Innovation, StartupsDenmark, diabetes, Diabetes Moonshot, GO-Pen, Health Device, health innovation, Health Tech, Innovation, Insulin, Insulin Pen, Logan Plaster, Ole Nielsen, Startup, T1D, T1D Moonshot, Type 1 DiabetesNicole Kinsey

Podcast: Play in new window | Download (Duration: 22:37 — 25.9MB)

Our StartUp Health NOW guest this week is Ole Kjerkegaard Nielsen, PhD, CEO & Co-founder of GO-Pen, a company in our Type 1 Diabetes Moonshot community.

As you’ll hear, Nielsen and his team based in Denmark have built a new kind of insulin pen, one that is affordable and accessible to all while also adhering to the absolute highest standards of quality. This more accessible insulin pen could change millions of people’s lives.

We’ll also get a glimpse into the uniquely challenging startup journey of developing a physical medical device. Nielsen and his team have been winning awards and grants on a regular basis, but the road is still steep. Whether it’s negotiating with a manufacturer across the globe or getting FDA approval, bringing a medical device to market as a startup with limited funds is a challenge that could intimidate even the most market-tested CEOs. Nielsen pulls back the curtain and lets us see that challenge from the inside and shows us where GO-Pen is going next.

Enjoy!

Innovators: Health Transformer University fuels your health moonshot

Two Top Health Investors Share Their 2023 Tips for Founders

July 6, 2023Business, Health, Innovation, Insights, Startups7wireVentures, Digital Health, Distributed Ventures, Entrepreneur, entrepreneurship, Funding, fundraising, health innovation, Health Tech, impact investing, investing, Lee Shapiro, Logan Plaster, raising funds, Shawn Ellis, WisdomNicole Kinsey

Podcast: Play in new window | Download (Duration: 21:15 — 29.2MB)

Whether they like it or not – and they probably don’t – every health tech founder needs to think about money. How much they need, and how to get it. For many founders, raising outside funds becomes a whole new full time job that they have to take on. This year, funding in the sector has dipped sharply, making that job even harder and more stressful.

On our podcast this week, we hear from the other side of the table. We sat down with the heads of two major health tech investment firms and got their advice for health innovation entrepreneurs in 2023.

First up is Lee Shapiro, managing partner at 7wireVentures and long-time collaborator with StartUp Health. Shapiro is a luminary in digital health investing so we asked him for his macro view of the industry and got a few practical tips for founders raising funds today.

Then we hear from Shawn Ellis, managing partner at Distributed Ventures, a $100M fund that invests in Seed and Series A deals and has a strong health tech focus. In our chat Ellis broke down where his firm has found success recently and exactly what he looks for in a pitch.

Founders: Health Transformer University fuels your health moonshot

How Health Tech Startups Can Launch with Government Contracts

June 9, 2023Business, Health, Innovation, StartupsAccess to care, Digital Health, health innovation, Health Moonshot, Health Moonshots, Health Tech, Health Transformer, Health Transformers, Innovation, Logan Plaster, Nutrition, Nutrition and Fitness, Shireen Abdullah, Suzy Shirley, VA, Veteran Affairs, Veterans Health Administration, VHA, YumlishNicole Kinsey

Podcast: Play in new window | Download (Duration: 20:36 — 18.9MB)

So you’re healthcare founder who has designed and built, by the sweat of your brow, a new platform or product that can help people live longer, healthier lives. Now, you just need to get it into people’s hands so they can use it, give feedback, help you iterate, and ultimately scale. As every founder knows, building the product is just a first step. Getting to market is a whole other challenge.

There are lots of different approaches for go-to-market strategy – with StartUp Health’s community of nearly 500 companies we’ve seen them all. One we wanted to highlight today is the idea of pursuing partnerships with the government or military. Given the enormous number of people that fall within the care of the military and federal agencies and the funding that gets allocated for their health, this is a tempting strategy. But it’s not for the faint of heart or those short on runway.

In this week’s podcast episode we’ll talk to two people who are making this marriage of startups and government contracts work – from two different angles.

First we’ll hear from Shireen Abdullah, CEO & Founder of Yumlish (which joined StartUp Health in 2019), about how she’s working with the US Air Force to help keep recruits healthy and service ready. Turns out, poor nutrition could actually become a national security threat.

Second, we’ll hear from the other side of the table. Suzy Shirley heads up community engagement at the VA’s Pathfinder program. Pathfinder was established just recently with the express purpose of making it easier for startups to access the Veterans Health Administration, which, if you’re not familiar, is massive. The VHA is the largest integrated healthcare system in the United States, providing care at more than 1200 facilities, covering over nine million enrolled veterans. Many healthcare startups would love to work with this patient population, but traditionally the administrative barriers have been high. Suzy Shirley explains how her team is changing the paradigm. She provides some practical tips for how runway-limited startups can make meaningful headway with such a huge government institution and start piloting high-impact products.

Enjoy the episode, which was recorded at the ViVE 2023 conference in Nashville.

Founders: Health Transformer University fuels your health moonshot

Inside Healthcare Sales: Building a Revenue Strategy for Your Health Moonshot

February 10, 2023Business, Health, Innovation, StartupsCollin Stewart, Health Tech, Healthcare, Innovation, Jamey Edwards, Logan Plaster, Revenue, StartUp HealthNicole Kinsey

Podcast: Play in new window | Download (Duration: 46:57 — 43.0MB)

Welcome to StartUp Health NOW, the podcast where we celebrate the entrepreneurs and innovators who are transforming health.

As we’ve reported recently, the health tech funding landscape has tightened in the last year. In other words, it’s harder to raise money for your business. But there’s an upside to this cooler market: There’s a heightened emphasis being put on the fundamentals of business like cash flow and profitability. That means less noise being generated around innovations that turn out to be smoke and mirrors and more focused on smart, sustainable business ideas. That’s good news for the right kind of founders, the ones we call Health Transformers.

But, it still isn’t easy. When a startup is facing an ever-shrinking runway and having to show strong revenue numbers, it can be difficult to take the time to formulate a cohesive sales strategy that allows the business not only to survive the long sales cycle in healthcare, but thrive long term as it seeks to achieve its audacious health moonshot.

To help founders tackle this challenge head on, we invited Collin Stewart, the CEO of Predictable Revenue, to join us for a recent Fireside Chat. The conversation was hosted by Jamey Edwards in front of a live virtual audience of founders from the StartUp Health portfolio. They cover themes like being radically open to market feedback and even pull some wisdom from Collin’s days as a professional musician.

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Want more content like this? You can subscribe to the podcast as well as other health innovation updates at startuphealth.com/content.
Sign up for StartUp Health Insider™ to get funding insights, news, and special updates delivered to your inbox.

Passionate about Type 1 diabetes? If you’re an entrepreneur or investor, contact us to learn how you can join our T1D Moonshot.

Looking to break down health barriers? If you’re an entrepreneur or investor, contact us to learn how you can join our Health Equity Moonshot.

Is Value-Based Care Finally at a Tipping Point? Cityblock and Enlace Health Share Thoughts from StartUp Health @ HLTH

November 23, 2022Business, Health, Innovation, Startups2022 StartUp Health Festival, Bill Nordmark, Cityblock, Cityblock Health, Dr Kameron Matthews, Enlace Health, Fee for service, Health, Health Tech, Healthcare, HealthTech, HLTH, HLTH 2022, Kameron Matthews, Kameron Matthews MD, Logan Plaster, StartUp Health @ HLTH, Value-Based CareNicole Kinsey

Podcast: Play in new window | Download (Duration: 19:22 — 22.2MB)

Welcome to StartUp Health NOW, the podcast where we celebrate the entrepreneurs and innovators transforming the future of health.

Value-based care has the dubious distinction of being the oldest new idea in health innovation. For decades we’ve talked about the benefits of creating medical payment structures that tie compensation to the patient’s outcome, rather than simply paying for services. It’s pretty clear that if a hospital makes its money off of performing certain tests or procedures, it’s going to have a bias – whether overt or subconscious – towards doing more of those tests and procedures. There’s no financial incentive to give the patient a lower-cost option that’s just as effective.

The alternative to America’s “fee for service” model is one where financial risk is shared by multiple entities, and pricing is bundled in a transparent way. This so-called value-based structure does away with surprise bills, and makes sure that doctors and hospitals are financially incentivized to keep patients healthy. Of course, that’s an oversimplification, and we could have a whole other episode about the role of fee-for-service medicine, but that’s not our subject for today.

Today, we’re getting a look at how value-based healthcare companies are faring through the lens of two StartUp Health companies, Cityblock Health and Enlace Health.

Recently, StartUp Health brought together nearly 100 of our portfolio companies at HLTH in Las Vegas, and while on the show floor, we caught up with some of our top founders in the StartUp Health Studio. That included Bill Nordmark, CEO of Enlace Health, which last year raised a $60M series D, and Dr. Kameron Matthews, Chief Health Officer at Cityblock Health, which is now valued at more than a billion dollars. Both of these companies are making value-based care business models a reality. For Enlace, it’s about building a new infrastructure that allows other companies to operate successfully within a new financial model. For Cityblock, it’s about deploying value-based care at scale in a way that addresses the needs of vulnerable populations.

Listen in for Logan Plaster’s chats with Bill Nordmark and Dr. Kameron Matthews, held in the busy StartUp Health Pavilion at HLTH in Las Vegas.

Learn more and connect with Health Transformers.

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Passionate about Type 1 diabetes? If you’re an entrepreneur or investor, contact us to learn how you can join our T1D Moonshot.

Looking to break down health barriers? If you’re an entrepreneur or investor, contact us to learn how you can join our Health Equity Moonshot.

How to Partner with Investors to Grow & Scale Your Company w/ Cheryl Cheng, CEO & Founder of Vive Collective

October 11, 2022Business, Health, Innovation, Insights, StartupsCheryl Cheng, Digital Health, Health Tech, Innovation, investing, investment, Logan Plaster, mindset, Vive Collective, WisdomNicole Kinsey

Podcast: Play in new window | Download (Duration: 57:34 — 65.9MB)

This week we welcome Cheryl Cheng to the interview chair. Cheryl is the CEO & Founder of Vive Collective. Previously Cheryl was a Partner at BlueRun Ventures, one of the top VC firms in Silicon Valley.

At Vive, she’s taking her 15 years of experience growing startups and putting it specifically into building, funding, and scaling digital health companies.

Cheryl is also an advisor to the Stanford Biodesign program and is on the advisory board for Yale Medical School’s Digital Health and Innovation Center.

We wanted to have Cheryl on one of our Fireside Chats to learn about Vive Collective – since it’s a relatively new kid on the block – and hear what kinds of opportunities she’s seeing in the market. We held this conversation in front of a live virtual audience of Health Transformers from the StartUp Health Portfolio, so you’ll get to hear some of their tactical questions mixed in throughout the session.

The goal for these sessions is to have candid conversations with people who can cut through the corporate speak and investment jargon, and Cheryl Cheng understood the assignment. We hope you enjoy.

Entrepreneurs: How to get investment from StartUp Health startuphealth.com

Investors: How to invest in StartUp Health Moonshots healthmoonshots.com
Want more content like this? You can subscribe to the podcast as well as other health innovation updates at startuphealth.com/content.
Sign up for StartUp Health Insider™ to get funding insights, news, and special updates delivered to your inbox.

Passionate about Type 1 diabetes? If you’re an entrepreneur or investor, contact us to learn how you can join our T1D Moonshot.

Looking to break down health barriers? If you’re an entrepreneur or investor, contact us to learn how you can join our Health Equity Moonshot.