Roundup: DispatchHealth receives $330M and more digital health fundings

Denver-based in-home care provider DispatchHealth raised $330 million in funding, with the equity raise led by Optum Ventures. This brings the company’s total raise to over $700 million.

New investors Blue Shield of California, Olayan Group, Adams Street Partners, Pegasus Tech Ventures and Silicon Valley Bank joined in funding. Existing investors supported the round, including Humana, Questa Capital, Oak HC/FT and Echo Health Ventures.

Silicon Valley Bank and K2 HealthVentures led the debt raise. 

The funds will be used to continue building the company’s proprietary platform, called the Last Mile Health Care Technology Platform, aimed to help with care delivery via logistics, clinical support and coordination with other parties in its ecosystem. 

The latest funding round was initially reported by Home Health News.

The recent raise comes after the in-home care provider announced it scored $200 million in Series D funding in early 2021, which brought the company’s total valuation to $1.7 billion.

Silicon Valley Bank and Hercules Capital provided a $300 million credit facility to Oak Street Health, a chain of value-based primary care centers for older adults. 

The funding will provide Oak Street Health with strategic and operational capital over the next several years. 

“Hercules Capital is pleased to once again partner with Oak Street Health as they continue to grow their national footprint and provide high-quality primary care to older adults across the country,” Michael Dutra, managing director at Hercules Capital, said in a statement. “We are impressed with Oak Street Health’s dedication to patients and are happy to support their continued growth with this new credit facility.”

New York-based mental health tech company Resilience Lab announced it had raised $15 million in Series A funding.

The round was also led by Morningside and Viewside Capital Partners. The company allows mental healthcare clinicians to collaborate. It also provides a matching care delivery platform for clinicians and patients. 

“Digital innovation has made therapy more accessible, but it is not solving for the long-term. We need more therapists and better, higher quality therapy if we want to make a dent in the U.S. mental healthcare crisis,” Marc Goldberg, cofounder and CEO of Resilience Lab, said in a statement.

“Today’s investment is a key milestone for our team, validating that our vision of fundamental and comprehensive reform in the therapist development journey is as important as digital access and back-end automation.”

Validic, a remote monitoring data management firm, raised $12 million in its latest funding round.

The round was led by Kaiser Permanente Ventures, with participation from existing and new investors, including Green Park & Golf Ventures, Ziegler, Arkin Digital Health, Greycroft Partners, SJF Ventures and Gore Range Capital.

The company partners with healthcare plans, providers and health IT companies and offers a platform utilizes personal data to inform healthcare decisions. 

“Validic has been and continues to be an important part of Kaiser Permanente’s efforts to improve quality of care for our 12.6 million members in a way that is more convenient, accessible, and affordable,” Chris Stenzel, executive managing director for KP Ventures, said in a statement.

“We are proud to lead this latest funding round, which will help us continue to deliver technology and tools for health promotion, disease prevention, state-of-the-art care delivery and world-class chronic disease management.”

Assure Health, a virtual care and remote patient monitoring provider for patients with chronic conditions, raised $8.7 million in a seed funding round that only included strategic investors. 

The company partners with healthcare organizations to offer remote patient monitoring, remote therapeutic monitoring and programs for chronic disease management. The funds will be used to expand access to its platform, and the company said it will also have 100 full-time employees by the end of the year.

“We know that the extra support our programs provide keeps people healthy and improves their independence and quality of life at home,” Jeff Nadel, cofounder and CEO of Assure Health, said in a statement.

“We are thrilled to secure this seed funding from partners who share in this commitment and who are well-situated to help us thrive in our next phase of growth, and we are looking forward to expanding access to our vision of everyday care to patients across the country.”

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