Foresite, InTandem close healthcare funds
Investment firm Foresite Capital closed its sixth fund with $900 million in capital commitments. The firm, which currently manages more than $3.5 billion in assets, has previously invested in digital health startup creator Redesign Health, public digital health company Hims & Hers and cancer care navigation company Thyme Care. The company said it will invest in health tech and life sciences companies at all stages of funding.
InTandem Capital, a private equity firm focused on healthcare services, closed its third fund with $715 million in total capital commitments. InTandem firm previously acquired tech-enabled primary care company Cano Health in 2016 before it went public in 2020. Elliot Cooperstone, InTandem's managing partner, was part of a trio of ex-directors that had a public dispute with then Cano Health CEO Dr. Marlow Hernandez over the primary care company's overall direction.
Read more: Top digital health funding: Sword, Eko Health
Grayce raises $10M
Grayce, a social care platform company, raised $10.4 million in Series A funding.
Venture capital firm Maveron led the round. A group of venture capital firms also participated including BBG Ventures, Correlation Ventures, GingerBread Capital and Alumni Ventures.
The company supports family caregivers by connecting them with social workers, peer communities and providing them with personalized care plans and educational content. The company said in a release the funding will help it pursue additional partnerships with payers.
Grayce was founded in 2019 has raised to $13.8 million including this latest round.
Better Health nabs $14M from CareFirst's investment arm
Better Health, a startup in the chronic care space, said it secured a $14 million unlabeled funding round.
The company said the round included investments from Healthworx, the investment arm of CareFirst BlueCross BlueShield, Miami-based University of Miami Health System and venture capital firm Mosaic General Partnership also participated.
The company offers medical supplies for people with chronic conditions such as diabetes, incontinence and ostomy. Better Health said in a release it will use the funding to expand to new disease categories and offer a more comprehensive solution to payer and provider customers.
The round brings the company’s total raised to $27.5 million.
Stitch PEO is Redesign Health's latest company
Stitch PEO, a software company focused on human resources for independent medical practices, launched with $8.75 million in a seed funding round.
Stitch was built at startup creator Redesign Health, which generates ideas to build healthcare startups based on internal and external research, connects those startups to seed funding, recruits entrepreneurs to lead the companies and provides operational assistance. All of Stitch's initial funding came from Redesign, a spokesperson said.
The company will use the funding to grow and scale.
