Seae Ventures, a venture capital firm founded by former Blue Cross executives, is launching a $107 million fund dedicated to underrepresented groups. The Boston-based firm’s fund will focus on advancing equity by investing in women and Black, Indigenous and People of Color (BIPOC) entrepreneurs. The fund has backing from more than 30 investors including the American Hospital Association, Blue Shield of California, Blue Cross Blue Shield of Minnesota, Cambridge Associates, Eli Lilly and Company, Goldman Sachs and Health Care Service Corporation.
Digital health IPOs: Here yesterday, gone today
CareBridge, a company whose solutions include 24/7 clinical support, decision support, data aggregation and electronic visit verification, raised $140 million in a funding round. CareBridge exclusively serves Medicaid and dual eligible patients with physical or intellectual disabilities, who are receiving home and community-based services. The company currently serves more than 19,000 patients, up from just over a thousand this time last year. It hopes to serve patients in 16 states and the District of Columbia by 2023. Financing was led by Oak HC/FT and included four of the nation's five largest Managed Medicaid plans.
Bain Capital takes a majority stake in AI Company LeanTaaS
Sanofi, a global drugmaker and researcher, launched its first digital accelerator to better use data and artificial intelligence. The first project deriving from the accelerator targets physicians in France, Italy and Spain caring for pediatric patients with atopic dermatitis. By 2025, the company says the platform will support new digital businesses, increase efficiencies and create new digital experiences.
Aledade raises $123 million in Series E round
Other funding rounds and deals:
- H1, a healthcare platform connecting life science companies, health companies, academics, and providers with clinical research, announced an additional $23 million in Series C funding bringing the round’s total to $123 million.
- Bicycle Health, a virtual care startup providing evidence-based opioid use disorder (OUD) treatments, raised $50 million in a Series B funding round.
- L7 Informatics, an AI-powered precision medicine software company for life sciences and healthcare organizations, secured a $38 million growth investment round.
- Nava Benefits, an employee healthcare benefits platform, raised $40 million in a Series B funding round.
- EnsoData, an AI-assisted sleep scoring data interpretation and analysis platform, closed a $20 million Series A extension round.
- Greenlight Guru, a healthcare practice management platform, acquired SMART-TRIAL, the maker of electronic data dapture (EDC) platform designed for medical devices and diagnostics.
- Choix, a telemedicine clinic providing reproductive and sexual healthcare, secured $1 million in a seed round.
- DotCom Therapy, a pediatric behavioral and occupational therapy company, acquired Wolf+Friends, a community network for parents of children with disabilities - that brings parents and providers together on one social platform so families can make informed decisions about their children’s education, health, wellness, and future.
- CareAcademy, a care enablement platform company for home care and home health organizations, announced a $20 million strategic investment round.
If there is a digital health funding or M&A deal that we missed from this past week here, please email us.
Digital Health Business & Technology’s data team contributed to this roundup.
