Innovaccer, BetterUP land unicorn status and other digital health fundings

Also: Medisafe lands $30 million in a round led by Sanofi and January AI rakes in $8.8 million for glycemic response tool.
By Laura Lovett
02:43 pm
Health investments

Data-focused health startup Innovaccer has officially landed unicorn status after raising a whopping $105 million in Series D funding. Tiger Global Capital led the round with participation from B Capital Group and Steadview Capital.

The round brings the company’s total funding to $225 million with a $1.3 billion valuation. Its Series C funding round was announced a year ago and raised $70 million. The company employs AI and data analytics to help unify healthcare data for easier healthcare management. The product is able to organize doctor’s notes and give insights and analysis on care.

The company has put the funds towards launching a suite of services and hiring more team members.

“A lot of people think that healthcare should be disrupted by someone coming from the outside,” Innovaccer cofounder and CEO Abhinav Shashank said in a statement. “I believe that healthcare will transform itself. We just need to provide an enabling platform to transform healthcare.”

BetterUp, a behavioral coaching service, scored $125 million in Series D funding, bringing its valuation to $1.73 billion.

ICONIQ Growth led the round with participation from Lightspeed Venture Partners, Threshold Ventures, Plus Capital, Salesforce Ventures, Sapphire Ventures and Mubadala Capital.

The service is targeted at employee health and wellness, and uses AI, coaching, counseling and mentorship to help support users.

The company plans to use the new money to continue the development of products.  

“Since the very beginning, BetterUp has designed and built our products around the whole person – the vital intersection of well-being and human performance,” Alexi Robichaux, CEO and cofounder of BetterUp, said in a statement.

"By investing in their employees’ growth, our customers have seen measurable behavior change in their cultures and significant outcomes across their businesses. With the addition of Care, we can extend this impact to organizations who recognize mental fitness as the biggest lever in helping people thrive through change.

"We’re excited to partner with progressive companies to supercharge their entire workforce, from whole person to whole organization.”

Digital therapeutics startup Medisafe scored $30 million in Series C investments led by Sanofi Ventures and ALIVE Israel HealthTech Fund.

Leummi Partners, Menorah Mivtachim, Consensus Business Group, Pitango Health Tech, 7wireVentures, M Ventures, Octopus Ventures, IooI Ventures, TriVentures, Ourcrowd and Qualcomm Ventures also participated in this round.

The company is focused on medication management. Its platform was designed to be used as a drug companion and help patients adhere to their prescriptions. Last year the company launched Medisafe Care Connector, which helps to link up patients and providers.

The company plans to use the fund to invest in expanding its platform and accelerating its revenue growth.

“This investment allows Medisafe to expand holistic treatment support for patients to impact behavior change and ultimately outcomes. Medisafe is continuously advancing its technology to meet the dynamic needs of patients managing complex therapies,” Omri Shor, CEO and cofounder of Medisafe, said in a statement. 

“The future model of patient support is not purely digital but adaptable to empower human connections. In fact, we are seeing impressive results connecting clinicians and care givers into the support solutions with adoption rates 4x that of pure digital and increasing nurse-to-patient connectivity by 1.8x. We are excited to build out further capabilities to meet the evolving needs of the industry.”

Menlo Park startup January AI announced an $8.8 million raise for its health insights platform. Felis Ventures led the round with participation from AME Cloud Ventures, SignalFire and individual investors.

The company created an algorithm to help predict a users’ glycemic response to a large swath of foods. The tool is primarily targeted at supporting individuals with diabetes. It can analyze blood sugar and then help users avoid certain foods based on that reading.

The new money will go towards new hires in product, engineering and operation teams. The company said it will also help to fuel its work on a metabolic health program that combine telehealth, CGMs and the app.

Pregnancy care startup Marani Health raised $3.7 million in a seed funding round led by SWL Healthcare Ventures, with participation from TFZ Capital.

Marani Health was developed to help remotely monitor expecting parents. The tool is able to capture data and transfer it to the platform, where both patients and clinicians can look at the metrics. The company pitches its technology as a way to continuously monitor patients at home.

The new funds are going to be used towards clinical research and development, and a go-to-market plan, according to the company.



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