June 7, 2021

A unicorn in the concrete jungle

Last week, Thirty Madison announced a $140M Series C that propelled the D2C company to unicorn status, clip-clopping apace with the rest of the D2C herd. More interesting to us is their subsequent plan to expand beyond their existing D2C model to target health plans and employers.

While pivots and customer expansions are hallmarks of the startup universe, embracing a business model portfolio approach requires doing two contradictory things at once: operating outside of traditional healthcare infrastructure via D2C marketing and customer acquisition channels while also playing inside the system through employee benefit plans, corporate contracting, and more. Playing the inside-outside game can increase complexity and dilute focus, but those who master it will see the payoff.

We’re looking for a Principal, Engagement Manager, and Analyst to join the Consulting team at Rock Health. This team works at the forefront of innovation, shaping digital health strategy for leading enterprise clients. If you’re excited about digital health and having an outsized impact within a growing team, check out the job descriptions and apply here.

Headlines

Verily’s New Hire Amy Abernethy Plans To Transform Clinical Trials
A move to bring expertise and strengthen trust in Big Tech’s healthcare efforts STAT

One Medical To Buy Iora Health For $2.1B In Stock
Acquisition expands market opportunity to $870B across commercial and Medicare Fierce Healthcare

Telehealth Startup Babylon To Go Public
And acquire Higi (platform wars anyone?) via a $4.2B SPAC Reuters

Carbon Health Acquires Steady Health
Brick-and-mortar primary care provider goes virtual with digital diabetes care STAT

HHS Launches $50M Venture Capital Partnership
The partnership will develop tech for future pandemics and other health security threats Fierce Healthcare

Amazon Halo Will Use Your Smartphone Camera To Assess ‘Movement Health’
Keep your eyes peeled on what’s next for MSK startups The Verge

Will Digital Health Funding Boom Or Bust?
“We’re still in the early and middle innings on transforming health care as a society” Health Evolution

Recent Funding

D2C digital health company Thirty Madison lands $140M to target health plans
Pharmacy operator and prescription management software Phil pulls in $56M
At-home genomics and COVID-19 testing company Helix brings in $50M
Healthcare benefits management platform Nayya adds $37M
Community-based care and social work referral marketplace Aunt Bertha gets $27M
Medallion, which offers automated credentialing tools for physicians, secures $20M
Financial management platform for cancer patients TailorMed lands $20M
HumanFirst, which uses sensors to move medical care into patients’ homes, closes $12M
Intensive care clinical decision support software Etiometry grabs $9M
Genomic data platform provider Genoox secures $8M
Authenticx, a voice-based customer service system for healthcare organizations, adds $7.5M
Ambient vital monitoring system Norbert Health gets $5M
At-home care platform InHomeTherapy lands $3.75M
Nue Life Health, a telemedicine platform for psychedelics-assisted mental health, raises $3.3M
RxAll, an AI software that authenticates medications, brings in $2.05M