Today, we’re excited to announce that we have raised our third and largest seed fund. Funding was led by Bessemer Venture Partners and Kaiser Permanente Ventures, with participation from KPCB, Montreux Equity Partners, and Great Oaks Ventures.
Our core mission is unchanged—we support and fund the entrepreneurs who are working tirelessly to transform healthcare—and this new fund is part of that mission. Seed funding is a service for entrepreneurs, sitting alongside hands-on support from our team, deep access to a network of industry leaders, and membership in a burgeoning community of digital health entrepreneurs. With this fund, we set out to make the seed funding component of our full-service model even better, with two broad goals: (1) To make it easier for our companies to raise money now, in completing their seed round and (2) to make it easier in the future, on their next round.
On (1), effective immediately, we are significantly increasing our investment to up to $250,000 per company. With our confidence comes a belief that we should be putting more money into each company, and we know that increasing our check size (and selectivity) will be a stronger signal to seed co-investors. On (2), the lead investors in this fund represent the most active venture firms in digital health, with category-leading portfolios and a full commitment to investing in companies over the next decade. Every single one of the investors involved in our third fund shares our mission to make a massive impact in healthcare, and is committed to finding the companies that will deeply transform the industry.