How do you get consumers to buy when they don’t know what they want? Jay Hack, CEO of beauty search engine Mira, says beauty products are harder to research online than most other products. He says consumers ask, “Will this make me look the way I want…will it work for me? Is it made the way I want?… so they open up 30 tabs on their browser and it’s too much work, too high friction.”
This innovative telemedicine network wants companies to think beyond maternity leave
Maven Clinic, a telemedicine network focused on women’s health that is offered as an employee benefit at organizations including L’Oréal, BuzzFeed, and Snap (No. 1), more than tripled the number of companies it serves in 2019. Maven connects workers with ob-gyns, nutritionists, lactation consultants, and other specialists via video chat or messaging for a fraction of the cost of an in-person visit. It was founded on the idea that access to better care before, during, and after pregnancies benefits employers as much as patients (by requiring fewer sick days and, ultimately, keeping parents in jobs). “Millennials are overtaking the workforce, and they have different expectations of what their employer does for them,” says founder and CEO Kate Ryder. In addition to coordinating pregnancy care and services that help women get back to work, Maven also provides fertility benefits such as egg freezing, IVF, genetic counseling, and—as of January 2020—an app to assist patients in managing payment and reimbursement for these services.
David Energy, A New Kind of Energy Company, Announces $1.5 Million in New Funding
David Energy, a new kind of energy provider, today announced the close of its $1.5 million Pre-Seed round co-led by Box Group and Greycroft. Great Oaks, Oceans, and a group of strategic angel investors including Zach Weinberg, Nat Turner, and Kiran Bhatraju also joined the round. David Energy has developed a proprietary software platform that utilizes machine-learning to act as the Energy Operating System for buildings and modernize how customers purchase energy. Used by commercial and industrial owners and operators, the company's platform was developed to streamline wholesale energy purchasing, report sustainability metrics and optimize Distributed Energy Resources such as smart thermostats, battery storage, and solar according to a building's unique needs.
Andreessen makes Ribbon Health the first investment from its $750 million new healthcare fund
One of the biggest roadblocks to reducing costs in the American healthcare system is the system’s inherent lack of transparency. Most healthcare networks and hospital systems can’t even accurately account for the doctors they manage and which insurance plans those doctors accept — let alone how good those doctors actually are at providing care, according to Ribbon Health chief executive Nate Maslak. The former healthcare consultant founded Ribbon Health to address just that issue, and the company has raised $10.25 million in new financing to roll out its software services to a broader network of payers, providers and digital health companies.
Health Catalyst to Acquire Able Health, a Leading Provider of Quality and Regulatory Measurement Tracking & Reporting
Health Catalyst, Inc. (“Health Catalyst,” Nasdaq: HCAT), a leading provider of data and analytics technology and services to healthcare organizations, today announced that it has entered into a definitive agreement to acquire Able Health, Inc. (“Able Health”), a San Francisco-based company that is a leading SaaS provider of quality and regulatory measurement tracking and reporting to healthcare providers and risk-bearing entities. The Able Health SaaS application will strengthen Health Catalyst’s existing Quality and Regulatory Measures capabilities. By bringing a growing inventory of hundreds of out-of-the-box measures, along with a scalable and flexible measures engine, Able Health’s solution automates measures reporting, a key competency of healthcare providers and risk-bearing entities’ population health strategies. Health Catalyst’s DOS™ platform will further enhance Able Health’s solution by providing a world-class data sourcing and integration backbone for the measures engine, capable of ingesting data from hundreds of different data sources prevalent in healthcare today.
Austin’s Swivel Raises $8M For More Flexible Office Leases
A little while back, I wrote about how an emerging new category of workplace alternatives are attracting attention from both the venture community and some of commercial real estate’s biggest players. Subscribe to the Crunchbase Daily One such company is Austin-based Swivel, which has developed an agile leasing platform and network. The startup just raised $8 million in Series A funding led by Jim Breyer of Breyer Capital (who’s also backed the likes of Facebook and Spotify). Breyer is contributing $5 million of the capital. JLL Spark, the venture arm of commercial real estate brokerage giant JLL, put up the remaining $3 million. The financing brings Swivel’s total raised to $14.6 million, according to its Crunchbase profile. Swivel raised an $850,000 seed round in 2016 and then another $1 million in June 2017. In 2018, the company brought in another $4.8 million in what Swivel founder and president Scott Harmon described as a Seed 2 round.
With $1.1B Valuation, Course Hero Joins the Edtech Unicorn Stable
Another U.S. education technology company has reached the billion-dollar valuation mark, and with that comes bragging rights to being a “unicorn.” But its CEO winces when he hears the word. He really, really doesn’t want to talk about it. “I am careful about that term being the focus,” says Andrew Grauer, who co-founded Course Hero in 2006. The word, he notes, “can be backward looking. It becomes problematic if that’s the end goal.” Soft spoken yet excitable, Grauer would rather let the numbers speak for themselves. The valuation—$1.1 billion, to be exact—comes courtesy of a $10 million Series B round from NewView Capital, whose founder and managing partner, Ravi Viswanathan, will join Course Hero’s board of directors.
Haus raises $4.5 million to replace your wine club membership
Co-founders Helena Price Hambrecht and Woody Hambrecht, who are married, have also secured $4.5 million in seed funding to fuel their bid for a more laid back and less alcohol-centric way to party, starting with a 15 percent ABV (alcohol by volume) citrus and flower-flavored aperitif. For comparison, most hard liquors are between 35 and 45 percent alcohol. Wine averages at 11.6 percent. Members in New York City, San Francisco, Seattle, Portland and Denver can now sign up for a monthly shipment of either six bottles per month for $144, two bottles per month for $63 or one bottle per month for $35. Unlike most wine clubs, it’s free to join.
Moov, A Marketplace For Used Manufacturing Equipment, Emerges From Stealth With $2.4M From NFX
Headquartered in San Francisco, today the used equipment marketplace platform launches out of stealth with $2.4 million in seed funding from NFX. Additional participating investors include Tencent cofounder Jason Zeng’s Decent Capital, real estate investor David Adelman’s family office Darco Capital, Great Oaks Venture Capital and other individual investors. Moov says its round was oversubscribed. In a statement provided to Crunchbase News, the company said it intends to use the funding to hire people here while pursuing an expansion into Asia, the world’s leading region for semiconductor manufacturing.
Gentem raises $3.7 million to fund future growth
Gentem, has raised $3.7 million to help doctors run viable healthcare practices and remain independent. Gentem is building the infrastructure that will power the future of healthcare reimbursement and spur a new generation of medical and surgical practices while making current practices more efficient. This new round of funding will grow their engineering and operations teams to reach more healthcare providers. Gentem transforms the reimbursement experience by not only handling the end-to-end billing and revenue cycle processes, but also paying physicians upfront for their services. Because they leverage automation, data science and access to financial products, Gentem is able to increase cash flow, drastically reduce account receivable days and uncover opportunities to increase revenue.
This woman tattooed the logo of diabetes management start-up Virta Health on her arm to remind her to stick with the program
Anne Viola-Krause has been taking medication for her diabetes for more than a decade. In 2016, her doctor recommended that she up her dose, but Viola-Krause felt reluctant because of the side effects. Viola-Krause is one of more than 30 million Americans with type 2 diabetes, which affects the way the body processes blood sugar, putting her at an increased risk of many health conditions including strokes. People who get diagnosed are typically advised to exercise regularly and lose weight, but are often prescribed a battery of medications by their doctors to keep their blood sugar under control.
Virta Health Raises $93M to Expand Clinically Proven Treatment to Reverse Type 2 Diabetes
Virta Health, a San Francisco, CA-based company delivering the first clinically-proven treatment to safely and sustainably reverse Type 2 Diabetes (T2D) has raised $93M in Series C funding led by Caffeinated Capital. The round also included participation of key early investors such as Venrock, Obvious Ventures, Creandum, Playground Global and SciFi VC.