Large health systems and venture capital firms nationwide are investing millions in startups whose products could bring critical innovation to healthcare delivery.
In March, Lyra Health closed a $75 million series C funding round. The Burlingame, Calif.-based company, a technology platform that allows employers to offer staff access to personalized mental health services, has now raised more than $150 million. It has garnered one million users since it was founded by former Facebook CFO David Ebersman in 2015, and now serves eBay, Uber and Genentech as customers. Lyra plans to use its funding to expand its technology and broaden its mental health provider network. The funding round was led by Menlo Park, Calif.-based venture capital firm IVP.
Visby Medical raised $70 million in funding in April, which includes a contribution from Cedars-Sinai Medical Center. Visby Medical is a San Jose, Calif.-based healthcare technology company that develops diagnostic products. It will use its funding to develop a device platform to make diagnostics accurate, rapid and accessible.
Columbus, Ohio-based Olive closed out a $51 million funding round in March, led by Cambridge, Mass.-based venture capital firm General Catalyst. Olive, a company that provides a revenue cycle and patient payment experience platform, utilizes artificial intelligence in its product designs. Founded in 2012, its AI-based model offers healthcare organizations products that aim to increase efficiency, improve patient care and lessen administrative error.
Q32 Bio, a Cambridge, Mass.-based biotechnology company, closed a $46 million series A funding round in May, which included investments from University of Colorado and Children’s Hospital Colorado Center for Innovation. The startup focuses on restoring immune homeostasis by developing safer, more effective therapies that treat underlying immune dysregulation. Its work centers on targeting endogenous regulators in the innate and adaptive immune systems.
In February, Quincy, Mass.-based IntelyCare closed its $45 million series B investment round, which involved funding from Kaiser Permanente Ventures. The company develops intelligent workforce management software for post-acute healthcare facilities. Its platform allows nurses and CNAs to pick up shifts directly from its mobile app. Founded in 2014, the company employs no more than 50 people.
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