Livongo vets new healthcare venture Transcarent scores $58M; Indian fitness app Curefit nabs $75M and more digital health fundings
Indian health and fitness company Curefit has entered into a partnership with Tata Digital Limited, a subsidiary of Tata Sons, for a private investment of $75 million.
As part of the deal, CureFit founder and CEO Mukesh Bansal will join Tata Digital as president. Bansal will continue his duties with CureFit while embarking on his new leadership position.
With this investment, CureFit has raised nearly $480 million since its founding in 2016.
The investment will allow CureFit to grow its tech-enabled fitness offerings while helping Tata Digital expand into the proactive health management space.
“Joining Tata Digital marks an exciting new step for me and my team and is a recognition of the value we have created with CureFit for fitness enthusiasts in India,” Bansal said in a statement. “Being part of Tata Digital will enable us to nationally scale up our offerings for our customers. Tata Digital has a highly inspiring vision to create next-generation consumer platform and I am very excited to be part of the Tata Digital team that is shaping this vision”
Transcarent, a healthcare platform for the self-insured employer market led by Livongo founder Glen Tullman, announced the closing of its $58 million Series B round.
General Catalyst and 7wireVentures co-led the round with participation from new investors Merck Global Health Innovation Fund, Kleiner Perkins, Leaps by Bayer, GreatPoint Ventures, and Threshold Ventures along with existing investors Alta Partners and Jove Equity Partners.
The company has now raised $98 million since its launch in March. Transcarent plans to put the funds into expanding its risk-based bundle of digital health services.
“We believe the next 18 months will define the next five years in healthcare, and much of that innovation centers around two words: experience and alignment,” Glen Tullman, CEO of Transcarent, said in a statement.
“There’s an extraordinary amount of friction in today’s healthcare journey which makes an individual’s experience more confusing, complex, and costly than ever. Siloed point solutions and navigators don’t improve people’s experience and don’t address the lack of alignment with the true payers in healthcare – employers and the people who work for them. Transcarent will remove the unnecessary barriers and provide employees with the right resources to make informed decisions for themselves and their families while realizing better value for their employers.”
At-home fitness company Liteboxer recently landed a $20 million Series A financing round led by Nimble Ventures. Other investors in the round included B. Riley Venture Capital, Raptor Group, Will Ventures and musician Timbaland.
The Boston-based company has created a boxing workout machine that gamifies exercise through flashing lights synced with music. The idea is that by matching the song’s rhythm with light-up punching pads, users will be immersed in their workout and enjoy it more.
“For all of the innovation in at-home fitness over the years, working out still sucks for most people,” Liteboxer CEO and cofounder Jeff Morin said in a statement. “We set out to create a workout experience that’s so immersive, people forget they’re even exercising. Since our launch last year, it’s become clear that this is exactly what Liteboxer does for anyone who tries it. We’re thrilled to partner with Nimble Ventures to continue building on that vision.”
Launched in 2020, the company has raised a total of $28.5 million to date.
Nirvana Health, a concierge platform for mental health providers, raised $4.2 million from backers Eniac Ventures and Arc Ventures, as first reported by VentureBeat.
The company operates a practice-management platform for therapists that streamlines the administrative tasks of their business.
With the new capital, Nirvana hopes to scale its platform to onboard additional clients.
Helsinki, Finland-based Veri has closed a round of funding for a total of $4 million (€3.3 million), according to Crunchbase.
The round included investments from its pre-seed and seed rounds, which were led by Lifeline Ventures and PROfounders Capital, respectively. Accel also participated in the round as well as angel investors Kristian Ranta, the founder and CEO of Meru Health, and Johannes Schildt, the cofounder and CEO of Kry.
Veri is a metabolic health platform that pairs with the Abbott Freestyle Libre to give users insights into how their diet affects their health.
Thrivable, a market-research platform for healthcare companies, raised $1.7 million in new funding. Allos Ventures, JumpStart, North Coast Ventures and Early Light Ventures participated in the round.
The company helps healthcare companies complete surveys, interviews, usability studies and focus groups by giving them the tools to create them and then distributing them to its on-demand panel of patients.
The capital will be put towards growing its team of full-time employees with a focus on the areas of technology, research, data science, sales and marketing.