Multimodal primary care provider Carbon Health scores $350M to become largest in the U.S. and more digital health fundings

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Multimodal healthcare provider Carbon Health has closed a massive $350 million investment round led by Blackstone’s Horizon platform. The new capital brings Carbon Health’s valuation to $3.3 billion, Forbes reports

Additional participation came from Atreides, Homebrew, Hudson Bay Capital, Intersect Capital, Fifth Wall, Lux Capital, Silver Lake Waterman, Dragoneer Investment Group and Brookfield Technology Partners.

A group of individual investors also chipped in, including Amazon Worldwide Consumer CEO David Clark, Salesforce co-founder and CTO Parker Harris, founding board member of Salesforce and Executive Chair of Informed Magdalena Yesil, Stripe Head of Banking Karim Temsamani, activists Shepard and Amanda Fairey, NBA players Klay Thompson and Khris Middleton, MLB players Nolan Arenado and Matt Chapman, MLS soccer player Weston McKinnie and former NFL player Alex Smith.

Carbon Health plans to use the cash to fuel expansion as it works to become “the largest primary care provider in the U.S.”

“We believe that everyone deserves great health, and that there is still a tremendous opportunity to close the immense healthcare gap that widened during the COVID-19 pandemic,” Eren Bali, co-founder and CEO of Carbon Health, said in a statement.

“This investment allows Carbon Health to bring our unique offering of high-end — but not high-cost — healthcare to even more people in the U.S. We will be able to continue building infrastructure and technology that make incredible longitudinal care accessible to the masses, without hidden fees or membership requirements.”

Digital mental health company Woebot Health raised $90 million in a Series B funding round co-led by existing investor JAZZ Venture Partners and Temasek.

Other investments came from funds and accounts managed by BlackRock Private Equity Partners, Owl Ventures, Mirae Asset Capital, Kicker Ventures, Alumni Ventures, Gaingels as well as existing investors NEA and AI Fund.

Best known for its conversational chatbot, Woebot, that delivers mental health support for adults and adolescents dealing with anxiety or depression, new moms and those with substance use disorder. Studies show that Woebot can create similar bonds with users as real-life therapists.

The company will use the funds to further develop its platform and related technology, advance its digital therapeutic candidates and grow its team.

b.well Connected Health, a patient-facing health management platform, secured $32 million in an oversubscribed Series B financing round.

New investor HLM Venture Partners led the round with additional support from Existing investors ThedaCare, UnityPoint Health Ventures, and Well Ventures – a subsidiary of Walgreens Boots Alliance. Along with its investment, HLM General Partner Steven Tolle joined b.well’s board of directors.

“Our digital transformation platform is helping healthcare organizations and self-insured employers deliver an unparalleled and personalized health care journey for their patients, members and employees,” Kristen Valdes, CEO and founder of b.well, said in a statement.

“Consumers have grown accustomed to technology that makes banking, travel and shopping simpler and more convenient. Now more than ever they’re demanding the same convenience when it comes to managing their health and that of their loved ones. We thank our investors for their strong support of our vision for creating simple, connected, and personalized health care journeys.”

b.well will put the money towards increasing its market penetration and advancing its product.  The platform connects a patient’s health records, financial information, wearable data and more while gamifying the user experience so clients can earn points and rewards.

Omnichannel fitness company CITYROW collected $12 million in Series A funding led by JW Asset Management. The round also included Sol Global and K2.

The company’s rowing classes are available on-demand through CITYROW’s digital platform or in-person in one of its 11 brick and mortar studios.

CITYROW will use the money to enhance its digital platform and grow its studios.

“With access to additional capital, CITYROW will launch live-streaming, expand the number and types of classes offered, and continue to strengthen our proprietary performance tracking and measurement platform,” Helaine Knapp, founder and CEO of CITYROW, said in a statement.

“Other important initiatives include bolstering our operations, building a more seamless integration between the in-studio and at-home experience and expanding our studio footprint to provide an incomparable experience to the thousands of individuals who rely on CITYROW to drive their fitness regimen.”

Biospectal, a Swiss remote patient monitoring and biosensing software company, has announced the closing of a $4.3 million (€3.7million) round of seed funding.

SeedLink led the round along with LabCorp, Athensmed, Privilege Ventures and other European and U.S. investors.

The company will use the funds to scale its OptiBP smartphone blood pressure monitoring app and data platform worldwide. The technology turns smartphones into blood pressure measuring devices by using the camera to record a user’s blood flow in their fingertip. OptiBP for Android launched in public beta this January and OptiBP for iOS is planned for public beta launch in the second half of 2021.

“Biospectal’s technology has the ability to transform the global network of smartphones into a connected, clinical-grade blood pressure monitoring platform that shifts clinical capabilities out of the traditional institutional settings,” Eliott Jones, Biospectal CEO and co-founder, said in a statement.

Digital mental health company Oliva raised $2.2 million in seed funding led by Moonfire Ventures, TechCrunch reports. The round also included backing from angel investors from Amazon, Booking.com, DogBuddy, Typeform, Hotjar, TravelPerk, and more.

Oliva creates a customized mental health model for employees through therapist-matching, care navigation, and support from a personalized care team. The compainy offers virtual therapy and tracks users’ progress.

The company did not specify what the funds would be used for.

 

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