Google Ventures funds women's health startup Allara Health
Allara, a virtual care platform focused on chronic hormonal conditions, closed a $10 million Series A funding round led by GV (Google Ventures).
The platform pairs women of reproductive age dealing with chronic hormonal conditions with physicians and registered dietitians. The company serves patients in eight states and plans to use the funding to form more relationships with payers, launch partnerships with health systems and conduct clinical research.
Along with Google Ventures, investors in the round were Great Oaks Venture Capital, Humbition, Vanterra, Gaingels and a number of individual investors including Tom Lee, the founder of the now Amazon owned primary-care company One Medical.
GV, the tech giant’s venture capital arm, has had an active year investing in women's health. In September, Google Ventures led another women’s health-focused round in telehealth company Midi Health, which focuses on women between the ages of 35 and 65. In June, GV invested in a Series A round for digital health company Caraway, which provides virtual and in-person mental, physical and reproductive healthcare services primarily to Gen Z-aged women through affiliations with colleges.
Waymark adds $42M from big name VCs, CVS Health Ventures
Waymark, a provider enablement company focused on Medicaid populations, secured $42 million in new financing.
The company hires, trains and deploys local teams of community health workers, pharmacists, therapists and care coordinators to work directly with primary care providers serving Medicaid populations. Its employees are supported by an in-house tech platform that aims to help coordinate care. It works with patients in Virginia and Washington state.
The new investment consists of $22 million in equity capital led by Lux Capital. Lux was joined by CVS Health Ventures, Andreessen Horowitz and New Enterprise Associates on the equity funding. The company also secured a $20 million line of credit but declined to share additional details.
Pair Team nabs $9M for community-based primary care
Pair Team, a virtual and community-based primary care company, closed a $9 million funding round led by Next Ventures.
Pair Team works with local health centers and community-based organizations by giving them access to its value-based care management platform. Through this platform, the company connects high-risk Medicaid patients with the information and services they need.
The funding will be used to help the company further expand in California and grow its team.
Venture capital companies Y Combinator, PTX Capital, Kapor Capital and Kleiner Perkins also participated in the round.
Virtual cardiology care startup nets $8M
Ventricle Health, a virtual cardiology care company, closed an $8 million seed funding round. The round was led by investment manager RA Capital Management and included Waterline Ventures.
The company said the round will finance the expansion of its heart failure management therapeutic model. The model is run in collaboration with payers and value-based care providers and allows patients to receive care virtually.
Ventricle, which operates in Texas, Ohio, Florida and the Mid-Atlantic, plans to expand in additional markets.
Obesity-focused startup launches with $3M round
Ilant Health, an obesity care startup, debuted publicly on Tuesday with a $3 million investment.
The company said it aims to act as the front door for obesity treatment by supporting employers and payers in managing the cost, quality and experience of obesity treatment for members.
It joins a growing list of digital health companies attempting to ride the wave of interest behind popular glucagon-like peptide agonists weight loss drugs. Payers say they support patients’ ability to access GLP-1s but are hesitant to offer broad coverage because of the high costs of the drugs set by manufacturers.
