Rock Health News

 

Insights from digital health’s most active investors

Last Friday we co-hosted the third annual Digital Health Investor Summit with Fenwick and West to a packed audience of investors specifically interested in the digital health space. Here are some of the day’s memorable moments: “Data is like air—it’s necessary, but you can’t sell anyone two ounces of it.” -David Brailer of Health Evolution Partners on collecting more and more data points, without creating value “It finally doesn’t suck. Technology can do video much better, waiting time is almost instantaneous, you can close the loop by connecting to pharmacy, and the market has really expanded with everyone having smartphones.” -Bob Kocher, Venrock on why telemedicine is so hot right now “The 5 Customer Journeys that matter: browse and shop, evolve with my needs, help me help myself, take control of my health, and help me in my time of need.” -Janet Widmann, Executive VP of Markets for Blue Shield of CA on the kinds of technologies payers are interested in investing in “Differentiated tech models are more important than ever” -Navtej Bhullar, Goldman Sachs on key investor perspectives from recent IPOs “Investors should focus on optimizing all the 4 P’s (patient, physician, provider & payer)” -Casper de Clercq, Norwest…

Insights from digital health’s most active investors

Last Friday we co-hosted the third annual Digital Health Investor Summit with Fenwick and West to a packed audience of investors specifically interested in the digital health space. Here are some of the day’s memorable moments: “Data is like air—it’s necessary, but you can’t sell anyone two ounces of it.” -David Brailer of Health Evolution Partners on collecting more and more data points, without creating value “It finally doesn’t suck. Technology can do video much better, waiting time is almost instantaneous, you can close the loop by connecting to pharmacy, and the market has really expanded with everyone having smartphones.” -Bob Kocher, Venrock on why telemedicine is so hot right now “The 5 Customer Journeys that matter: browse and shop, evolve with my needs, help me help myself, take control of my health, and help me in my time of need.” -Janet Widmann, Executive VP of Markets for Blue Shield of CA on the kinds of technologies payers are interested in investing in “Differentiated tech models are more important than ever” -Navtej Bhullar, Goldman Sachs on key investor perspectives from recent IPOs “Investors should focus on optimizing all the 4 P’s (patient, physician, provider & payer)” -Casper de Clercq, Norwest…

Other 11/10/14

Ideas we’d like to fund

Our experience funding companies at the intersection of healthcare and technology for over three years has been humbling—we are continuously surprised (both pleasantly and unpleasantly) by the problems that plague our healthcare system and the ingenuity of the solutions we see. Entrepreneurs in our portfolio spotted—and are now tackling—problems in emergency kit processing, continuous monitoring, and diabetes prevention, in addition to many, many others. As early stage investors, we seek to invest in these types of relentless problem solvers, not underlying technologies. While entrepreneurs enlighten us to most of the problems, a few are top of mind for us as well. The below list is clearly not comprehensive (in fact, you should read our last post on this topic for even more—all of which remain of high interest), but hopefully this helps jog some ideas.

Other 11/10/14

Ideas we’d like to fund

Our experience funding companies at the intersection of healthcare and technology for over three years has been humbling—we are continuously surprised (both pleasantly and unpleasantly) by the problems that plague our healthcare system and the ingenuity of the solutions we see. Entrepreneurs in our portfolio spotted—and are now tackling—problems in emergency kit processing, continuous monitoring, and diabetes prevention, in addition to many, many others. As early stage investors, we seek to invest in these types of relentless problem solvers, not underlying technologies. While entrepreneurs enlighten us to most of the problems, a few are top of mind for us as well. The below list is clearly not comprehensive (in fact, you should read our last post on this topic for even more—all of which remain of high interest), but hopefully this helps jog some ideas.

Onward and upward: Big news at Rock Health

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…

Onward and upward: Big news at Rock Health

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…

Other 6/5/14

Kickstarter finally ends long-time ban on health campaigns

Photo by Thomas Hawk Kickstarter recently announced an end to their long-time ban on health and medical products. As the largest crowdfunding platform, with $1B in pledges since it launched in 2009, Kickstarter originally opted out of the digital health space to focus on creative campaigns such as design, art, and film. (Check out this spreadsheet that details funding amounts raised on both Indiegogo and Kickstarter by category). Indiegogo has since emerged as the de facto platform for digital health crowdfunding, with $7.8M in funded projects in 2013, and $2.1M raised thus far in 2014.  They’re known as the open platform, which means there is minimal (or no) formal vetting of campaigns and a higher percentage of campaign failures. In fact, the majority of healthcare campaigns on Indiegogo fail to raise their goal. Digital health crowdfunding campaigns in 2013

Other 6/5/14

Kickstarter finally ends long-time ban on health campaigns

Photo by Thomas Hawk Kickstarter recently announced an end to their long-time ban on health and medical products. As the largest crowdfunding platform, with $1B in pledges since it launched in 2009, Kickstarter originally opted out of the digital health space to focus on creative campaigns such as design, art, and film. (Check out this spreadsheet that details funding amounts raised on both Indiegogo and Kickstarter by category). Indiegogo has since emerged as the de facto platform for digital health crowdfunding, with $7.8M in funded projects in 2013, and $2.1M raised thus far in 2014.  They’re known as the open platform, which means there is minimal (or no) formal vetting of campaigns and a higher percentage of campaign failures. In fact, the majority of healthcare campaigns on Indiegogo fail to raise their goal. Digital health crowdfunding campaigns in 2013

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