Redesign Health, which helps build, launch and find funding for digital health startups, announced Tuesday it had raised a $65 million Series C round led by General Catalyst.
Other participants in the raise include CVS Health Ventures, UPMC Enterprises, Eden Global Partners, Euclidean Capital, Samsung Next, TriplePoint Capital and Declaration Partners. According to reporting by Fast Company, the Series C brings Redesign’s post-money valuation to $1.7 billion.
Founded in 2018, Redesign said it has launched more than 40 health tech companies, including home-based care startup MedArrive, cancer care-coordination platform Jasper Health and hybrid mental health company UpLift.
As part of the financing, General Catalyst CEO and managing director Hemant Taneja will join Redesign’s board of directors. The company announced a $250 million raise in March 2021.
Healthcare data analytics startup PurpleLab raised $40 million in a Series B funding round led by Primus Capital, with participation from Edison Partners.
The company offers a platform that helps healthcare organizations analyze real-world data to determine how well interventions are working on a population level. It will use the funding to invest in new data assets, product development and new hires.
“We’re laser focused on creating infrastructure and tools to assist our clients in converting real-world data into real-world evidence, and this investment will accelerate the rate of adoption, conversion and ultimate return on their investment,” Mark Brosso, CEO and founder of PurpleLab, said in a statement.
“Understanding comparative performance of various treatments for every condition is becoming easier through technologies such as de-identification via tokenization and is being further driven by legislative mandates such as the 21st Century Cures Act. In a world with increased access to RWD, the biggest challenge lies in the ability to readily interpret the data.”
Supplemental benefits startup Soda Health scooped up $25 million in Series A funding.
According to Axios, Lightspeed Venture Partners, Define Ventures and Qiming Ventures participated in the raise. The company launched in August 2021 with $6 million in seed funding.
Soda provides a tech platform that allows health plans to reimburse for goods and services that aren’t supported by traditional medical claims, like healthy foods, over-the-counter drugs and transportation. Consumers can purchase these goods with a health-plan debit card.
BabyLiveAdvice, which provides virtual maternal and infant healthcare, announced it had closed a $1.1 million seed round led by Venn Ventures and Synergen Technology Labs.
Participating strategic investors include Venn Ventures, Synergen Technology Labs, Ob Hospitalist Group (OBHG), CareFirst BCBS and LifeBridge Health.
“Through our BabyLiveAdvice partnership, we look forward to providing new maternal care resources to our patients and hospital partners,” Dr. Amy VanBlaricom, OBHG chief clinical officer and BabyLiveAdvice board member, said in a statement. “We are especially excited about BabyLiveAdvice’s potential to positively impact patients with access to care challenges and the minority populations we serve.”
