AliveCor raises $65M, Strava closes $110M and more digital health fundings

Also: Upfront Healthcare announces $11.5M in funding; Solv scores $27M and adds to its team; Levels gets $12M in a seed round.
By Mallory Hackett
12:49 pm

AliveCor, a maker of artificial intelligence-enabled personal ECG devices, has announced its Series E financing round worth $65 million. The round was led by existing investors OMRON, Khosla Ventures, WP Global Partners, Qualcomm Ventures and Bold Capital Partners.

The capital will be used to enhance the growth of AliveCor’s remote-cardiology platform by adding telehealth, detection and condition-management services for providers and healthcare institutions. It is also entering into a partnership with OMRON, which will add hypertension management to its portfolio.

"We are grateful for the continued confidence of our investors," said Priya Abani, CEO of AliveCor, in a statement. "This financing speaks to the transformative power our technology brings to the healthcare system. We remain positioned to fulfill our vision of delivering AI-based, remote cardiological services for the vast majority of cases when cardiac patients are not in front of their doctor."

The cycling and running social platform Strava has raised $110 million in a series F funding round.

The online sports community had investor participation led by TCV and Sequoia Capital, with participation by Dragoneer Investment Group and existing investors, including Madrone Capital Partners, Jackson Square Ventures and Go4it Capital.

"We're excited to partner with TCV and Sequoia. Together we're building for athletes," said Michael Horvath, Strava's cofounder and CEO, in a statement. "Today that means making Strava indispensable to athletes everywhere. When we do that well, we connect athletes to what motivates them, fuel the growth of our community, and strengthen our business.”

Strava plans to build up its features, support its global community and expand to better serve more athletes.

Upfront Healthcare, a healthcare-communication and patient-engagement platform, recently announced the closing of its $11.5 million Series B funding round. New investor Baird Capital led the round with existing investor LRVHealth.

The round also had participation from Echo Health Ventures, Nashville Capital Network and Hyde Park Venture Partners to bring the total funding amount for Upfront to $21.5 million to date.

The funds will be used to implement additional products and services to help address evolving patient and provider needs, accelerate the product roadmap, and expand sales and marketing.

“We set out more than four years ago to help patients navigate the complexities of the healthcare system by delivering a cohesive and frictionless experience, and we have made great progress toward that goal,” said Ben Albert, Upfront’s CEO, in a statement.

“We are excited to partner with leading investor Baird Capital and eager to work together to continue to invest in our platform to make a larger impact for patients and providers.”

The online appointment-scheduling platform Solv recently raised $27 Million in a Series B+ funding round. The round was led by Acrew Capital and had additional participation from MultiCare Health System, Light Street Capital, Benchmark and Greylock Partners.

Solv plans to use the funds to expand its network of providers to give patients increased access to care. It will also grow its specialty areas to include primary care, mental health and women's health.

"We're seeing dramatic shifts in the way healthcare is being accessed today. Until recently, it's been a one-size-fits-all experience where you must book an appointment weeks in advance, drive to the office, wait, and only then see a doctor,” said Heather Fernandez, CEO and cofounder of Solv, in a statement.

“COVID-19 has pulled the future forward. Healthcare has shifted to a digital-first experience, allowing Americans to engage with healthcare from their homes without disruption in their daily lives.”

In addition to the financing, Solv brought in a slew of new team members, including Theresia Gouw from Acrew Capital, who will join the board of directors; Florence Chang from MultiCare, who is joining the industry advisory board; Beth Frensilli as Solv's chief legal officer; and Dr. Rob Rohatsch as Solv's first chief medical officer.

Levels, a bio-wearable system that measures the impact of one's diet and lifestyle on metabolic health, has announced the closing of its $12 million seed round, led by a16z. Angel investors Marc Randolph, Dick Costolo, Michael Arrington and Matt Dellavedova also participated.

Using continuous glucose monitoring and the smart software in the Levels app, people can get real-time analysis regarding how food, exercise and other lifestyle decisions are impacting their health.

"You shouldn't need a Ph.D. in nutrition or human physiology to know what to eat for lunch. Levels is the first product that takes the guesswork out of daily lifestyle choices with personalized, objective data," said Josh Clemente, Levels’ founder and president, in a statement.

"By leveraging continuous glucose monitoring, Levels helps users close the loop between overall health and daily choices around food, exercise, sleep, and stress management to support long-term metabolic health."

The system is currently in a closed beta, but it will be available for consumer purchase in 2021, according to the announcement.



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