Current Health closes $43M Series B for company growth, Medchart raises $17M for product innovation and more digital health fundings

Also: Seqster completes Series A round and Oath Care lands $2M ahead of its launch later this year.
By Mallory Hackett
02:21 pm
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Photo by IronHeart/Getty Images

Remote care management platform Current Health has closed a $43 million Series B financing round. Northpond Ventures led the round, along with LRVHealth, OSF HealthCare, Section 32, Elements Health Ventures and existing investors.

In addition to the financing, Current Health is adding Andrea Jackson, Director at Northpond Ventures, and Tripp Peake, General Partner at LRVHealth, to its board of directors.

Current Health’s remote patient monitoring devices, paired with its platform, collect and monitor users' vital signs to enable preventative care. The new capital will go towards company growth, according to Chris McCann, the CEO and cofounder of Current Health.

“We’ve built Current Health to serve as the ‘mission control’ for organizations to transition healthcare from the hospital to the home and meet patients where they are,” McCann said in a statement.

“Our Series B financing, from the top investors in both healthcare and pharma, will enable us to rapidly grow on a global scale and meet the demand for an integrated enterprise approach.”


Medchart, a cloud-based health data platform, raised $17 million across its Seed and Series A funding rounds.

The rounds were led by Crosslink Capital and Golden Ventures, with additional funds from Vast Ventures, Union Ventures, iGan Partners, Stanford Law School and Nas.

Matt Bigge, a partner at Crosslink Capital, joined Medchart’s board of directors as a part of the investment.

“Medchart’s automation and efficiency unlocks new generations of digital transformation and analytics to business processes that remain slow, expensive, and paper-based,” James Bateman, cofounder and CEO of Medchart, said in a statement.

“Our mission is to revolutionize the way legal, insurance, researchers, and other professionals access medical records in a fraction of the time. Through our cloud-based platform, direct electronic health information connections, and advanced analytics, we are transforming the medical record access process for businesses beyond patient care.”

The company says it will put the investments towards product innovation and hiring new talent.


Seqster has added $12 million of new funding to its multi-dimensional healthcare data platform in a Series A round led by OmniHealth Holdings LLC. Takeda Digital Ventures and 23andMe CEO and founder Anne Wojcicki also participated in the financing round.

The company’s platform combines patient data from their medical history, genetic background and metrics collected by health wearables into one HIPAA-compliant platform. It seeks to solve a number of data challenges in healthcare, such as clinical trial recruitment, population health initiatives and patient engagement.

With the new investment, Seqster will continue growing and evolving its tech-enabled platform, the company said in the announcement.


Oath Care, an online community for new and expecting moms, landed $2 million in Seed funding from XYZ Venture Capital, General Catalyst, Muse Capital and Eros Resmini, the founder and managing partner of the Mini Fund.

With plans to launch later this year, Oath’s first offering is a subscription service where parents can participate in small groups made up of people in similar stages of pregnancy, and with similar ages, locations and careers, led by a trained facilitator. The idea is that parents can ask questions and get support from their peers and healthcare specialists.

“We’ve got a system today where everything is fragmented: Medical knowledge is siloed. Care is episodic. Even the experience of healthcare itself is lonely,” Camilla Hermann, CEO and cofounder of Oath, said in a statement.

“But health doesn’t happen in isolation. We believe intentional, intimate community is the single most important lever in driving long-term positive health outcomes. This is why we created Oath as first a social company that is ultimately defining an entirely new system for human wellbeing.”

Oath said it will use the funds to hire additional team members and accelerate product development ahead of its launch.

 

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