Pager raises $ 70 million for care coordination; Nomad secures $ 63 million plus funding for digital health
Collaboration and navigation tool for virtual care Pager announced that it had raised $ 70 million in an equity and debt financing round. The Series C cycle was conducted by Susquehanna Private Equity Investments. Silicon Valley Bank provided debt financing.
Pager said the capital would be used to increase platform capacity, make improvements and expand into new markets around the world, including the United States and Latin America.
“The COVID-19 pandemic has been a catalyst for the accelerated growth of virtual care solutions and has triggered a growing demand for health plans and health systems to deliver proven next-generation digital health platforms like Pager.
“Our latest fundraiser further validates the significant value of virtual care and how we improve access to care and health outcomes while reducing costs,” CEO and Chairman Walter Jin said in a statement. .
“Pager’s rapid growth to over 15 million contracted members, as well as the execution of our largest fundraising cycle to date, is proof that our platform is successfully meeting the needs of customers and consumers. in the evolving healthcare market. “
In March 2020, Pager raised an additional $ 33 million in equity and debt financing. The company said its total raise was $ 120 million.
Nomadic health, an online job portal for temporary healthcare workers, raised $ 63 million in new equity and debt financing. Nomad said the funds would be used to hire more employees, invest in its platform and grow nationwide.
Adams Street Partners led the round with participation from existing investors including Icon Ventures, Polaris Partners, RRE Ventures, .406 Ventures, First Round Capital and Silicon Valley Bank.
The company also announced two hires for its management team. Kim Howard will take on the role of Chief Customer Officer and Jeff Simon joins as Vice President of Products. Howard came to Nomad from healthcare staffing company AMN Healthcare, and Simon recently worked at Indeed.
Staff shortages have afflicted some hospitals during the COVID-19 pandemic, increasing the cost of travel nurses. In early September, the American Nurses Association sent a letter to HHS asking the agency to declare the nursing shortage a national crisis.
Nomad said transactions in its market have increased sevenfold since the start of the pandemic in February 2020.
“Our work has never been more important or rewarding,” CEO and co-founder Dr Alexi Gharib Nazem said in a statement.
“Since the start of the pandemic, Nomad has been able to move at lightning speed to connect clinicians to hospitals in desperate need of staff. Meanwhile, Nomad has sent clinicians to care for more than a million patients in all 50 states. We are truly fulfilling our mission of breaking down barriers between providers and their patients. “
Digital processing of obsessive-compulsive disorder NOCD closed a $ 33 million Series B round of funding on Tuesday.
The round was led by F-Prime Capital with participation from Eight Roads Ventures and Kaiser Permanente Ventures, as well as existing investors including 7wireVentures, Health Enterprise Partners (HEP) and Chicago Ventures.
The company will use the money to expand its user base, reach people who need treatment earlier, and add additional services to treat other mood conditions and disorders that often occur with OCD. His work with Eight Roads Ventures will help NOCD expand its presence overseas.
“The behavioral health treatment system needs a new digital gateway that meets the needs of consumers with severe conditions to their conditions, wherever they are. Telehealth is an important solution for people who feel uncomfortable seeking treatment for stigmatized problems outside of their home. NOCD provides an effective, frictionless therapy experience that addresses their unmet needs and helps them regain hope in life, ”Stephen Smith, CEO and Founder of NOCD, said in a statement.
NOCD closed a $ 4 million in Series A in 2019 and $ 1 million in seed funding in 2018.
Interactive fitness and motion entertainment startup NEX has raised $ 25 million in Series B funding and launched its Active Arcade app, a collection of mobile motion games.
The round was led by Blue Pool Capital and Samsung Ventures. Other investors include actor Simu Liu, football coach and former player Thierry Henry, Los Angeles Dodger Albert Pujols, WNBA’s Sabrina Ionescu, YouTube co-founder Steven Chen and WordPress co-founder Matt Mullenweg as well as SparkLabs. Global Capital and Hyphen Capital.
“A pandemic has drawn even more attention to the already huge and growing problem of more sedentary lifestyles across the world,” David Lee, CEO and co-founder of NEX, says TechCrunch.
“Having fun on the move is one of the purest definitions of gaming. But unlike the old days, the level of engagement in active play has to be comparable to that of the best video games. It was obvious to us that accessible, movement-based entertainment was the answer to a global need for more physical activity. “
Health Pearl, which aims to help primary care providers succeed in Medicare’s direct contract compensation model, announced it has raised $ 18 million in Series A funding.
The round was led by Vineeta Agarwala to Andreessen Horowitz with participation from AlleyCorp and Kevin Ryan.
“At Pearl, we focus on each physician and how we can enable them to care for their patients more directly and effectively. We are starting in Medicare, generating a simple per member per month payment structure for each of our partner physicians to free them up to prioritize prevention and focus on patients who need care at all times, ”said writes CEO Michael Kopko. in a blog post about the funding announcement.
“This structure also reorients our partner physicians around a win-win opportunity for patients, physicians and our healthcare system: they receive savings commensurate with their individual performance, if they can improve healthcare outcomes and effectively manage a global budget for the care of their patients. “
Chapter, which helps beneficiaries choose and enroll in health insurance plans, announced it had raised $ 17 million in a Series A funding round.
The round was led by Narya Capital with participation from Susa Ventures, Maverick Ventures, XYZ Venture Capital, Core Innovation Capital and Health2047 Capital Partners. Billionaire investor Peter Thiel has joined the company’s board of directors.
The company will use the funds to accelerate product development, hire engineers and consultants, and continue to invest in its platform.
“Most Americans navigate Medicare on their own or unwittingly use resources that limit their options. Medicare coverage is too important to be wrong: enrolling too late can result in lifelong penalties. In addition, the plans have such significant differences in benefits and premiums that it is essential to research each option.
“Unlike traditional resources, Chapter searches for every plan at a unique level of granularity. As a result, we are helping our members save thousands of dollars so they can retire on their own terms,” said Chapter CEO Cobi Blumenfeld-Gantz in a statement.
Seven Starling, a platform that provides educational content, group support and access to doulas during pregnancy and early parenthood, has announced its launch with seed funding of $ 2.9 million.
The tour was led by Pear VC, Expa and Magnify Ventures.
“Our goal is for parents to feel empowered during pregnancy and early in parenthood. New and expecting parents often feel isolated and overwhelmed, even more so during the pandemic. Seven Starling provides parents with access to Doulas and peers who quickly become invaluable partners during pregnancy and parenting. The results are more meaningful connections and better maternal health outcomes, “said Tina Beilinson, CEO and Co-Founder of Seven Starling, in a statement. .