Editor’s Note: This roundup is meant to highlight some of the most notable funding rounds of the month and is not intended to be comprehensive.
Health tech companies made several major funding announcements in September. Here is a list of some of the biggest funding rounds.
Strive Health rakes in $550 million in funding
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Denver, Colorado-based Strive Health works with payers, health systems, primary care groups and nephrologists. It offers at-home and virtual support for chronic kidney disease, end-stage kidney disease, dialysis and kidney transplant. The company uses technology and AI to identify what disease stage patients are in and what the best interventions are. In addition, it connects the patients with a care team that includes a nurse practitioner, registered nurse, case manager and care coordinator.
Its financing included $300 million in equity funding and $250 million in debt financing. The equity financing was led by New Enterprise Associates (NEA), and included participation from CVS Health Ventures, CapitalG, Echo Health Ventures, Town Hall Ventures, Redpoint and affiliates of BlackRock. Hercules Capital led the debt funding. The funding will help Strive invest in AI and expand its care delivery to additional conditions, such as congestive heart failure.
Capital Rx secures $400 million in funding
Capital Rx is a transparent pharmacy benefit manager that is now rebranding as Judi Health as it expands beyond pharmacy benefits. It also offers a health benefit management solution for employers, TPAs and health plans. It provides care navigation support for pharmacy, medical, vision and dental benefits. In addition, it provides a software-as-a-service solution to help health plans manage their claim workflows.
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The $400 million investment includes $252 million in Series F funding led by Wellington Management and General Catalyst, with participation from Generation Investment Management, Growth Equity at Goldman Sachs Alternatives, 9Yards Capital, B Capital, Edison Partners, Prime Health Investments and Transformation Capital. It also includes additional investments in the company’s securities, meaning investors are buying stocks from existing stakeholders.
Thyme Care raises $97 million in Series D funding
Nashville, Tennessee-based Thyme Care partners with health plans, employers and risk-bearing providers to support patients battling cancer. It provides care navigation services, technology and data insights and therapeutic interventions. The company helps patients understand their diagnosis, find a cancer doctor and receive clinical care between appointments. Patients also gain access to a team of providers, nurses and resource specialists.
The $97 million Series D round included participation from CVS Health Ventures, Foresite Capital, a16z Bio + Health, Concord Health Partners, Town Hall Ventures, AlleyCorp, Frist Cressey Ventures, Morgan Health, Humana, Texas Oncology and Memorial Hermann Health System. Thyme Care has raised $275 million in total. The funding will help expand its payer contracts, scale to more customers, grow its oncology partnerships and invest in AI.
Assort Health raises $76 million in Series B funding
San Francisco-based Assort Health uses AI to improve how provider practices and hospitals engage with patients. Its AI agents integrate with electronic health records and practice management systems to handle routine phone inquiries, assist with appointment booking and guide patients to the appropriate care. The platform supports a range of specialties, including orthopedics, cardiology and pediatrics.
Its Series B round was led by Lightspeed Venture Partners, and included participation from Felicis, First Round Capital, Chemistry, A*, Liquid2 and Quiet Capital. The company has raised $102 million to date. The funding will be used to grow Assort Health’s team and advance the development of its platform.
Imagine Pediatrics secures $67 million in Series B funding
Imagine Pediatrics, based in Nashville, provides virtual and at-home care for children with special healthcare needs. Its team offers medical, behavioral and social support. The company now serves about 40,000 children across the country.
Its $67 million in funding included participation from Oak HC/FT, Optum Ventures, Rubicon Founders and the Autism Impact Fund. It will “accelerate national expansion, enhance the company’s proprietary technology platform, and fuel clinical innovation designed to close persistent care gaps and expand access to specialized pediatric care for children with special health care needs,” the announcement said.
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