Total amount raised
$386 Millions
Latest funding date
05/01/2023
Location
Strive Health has successfully raised funds through a Series C round, with the last funding round closing on May 31, 2023. The company is backed by investors such as Town Hall Ventures, New Enterprise Associates, Echo Health Ventures, and Ascension Ventures.
Strive Health provides comprehensive care for people with kidney conditions through a value-based care model, offering solutions like Population Health, Strive Care Partners, Kidney Heroes®, and CareMultiplier™. Keep reading to explore the intricacies of Strive Health's fundraising journey and the investors backing this innovative platform.
What Is Strive Health?
Strive Health, founded in 2018, is a healthcare company based in Denver, Colorado. The company specializes in value-based kidney care, integrating high-touch care teams with predictive analytics to support patients throughout their healthcare journey.
Co-founded by Chris Riopelle and David Whelan, Strive Health employs between 501 and 1000 people. The company collaborates with providers and payors to improve outcomes and lower the total cost of care for patients with kidney disease.
How Much Funding Has Strive Health Raised?
- Series A
- Amount Raised: $80M
- Date: April 2019
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation for their value-based kidney care model and expand initial operations.
- Series B
- Amount Raised: $140M
- Date: March 2021
- Lead Investors: CapitalG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations, enhance technology, and expand partnerships with healthcare providers.
- Series C
- Amount Raised: $166M
- Date: May 2023
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets, invest in partnerships, and refine their clinical value-based care model.
Total Amount Raised: $386M. Current Valuation: Not publicly disclosed.
Key Investors
- New Enterprise Associates (NEA)
- Details: NEA is a venture capital firm that has been a significant investor in Strive Health since its founding. They focus on investing in companies that advance clinical outcomes and reduce the total cost of care.
- Investment Focus Areas: Health Care, Information Technology, Medical, mHealth
- Notable Investments: Strive Health, other companies advancing clinical outcomes and reducing healthcare costs (specific examples not provided)
- CapitalG
- Details: CapitalG is the growth equity investment fund of Alphabet Inc. (Google's parent company). They focus on investing in companies that leverage technology to drive significant growth and innovation.
- Investment Focus Areas: Technology, Growth-stage companies, Healthcare
- Notable Investments: Strive Health, other technology-driven companies (specific examples not provided)
- CVS Health Ventures
- Details: CVS Health Ventures is the venture capital arm of CVS Health, focusing on investments that align with their mission to improve healthcare delivery and outcomes.
- Investment Focus Areas: Healthcare, Pharmacy, Health Technology
- Notable Investments: Strive Health, other healthcare innovation companies (specific examples not provided)
- Echo Health Ventures
- Details: Echo Health Ventures is a strategic collaboration between Cambia Health Solutions and Mosaic Health Solutions, investing in innovative healthcare companies.
- Investment Focus Areas: Healthcare, Health Technology, Insurance
- Notable Investments: Strive Health, other healthcare technology companies (specific examples not provided)
- Town Hall Ventures
- Details: Town Hall Ventures is a venture capital firm that invests in healthcare companies focused on underserved communities and populations.
- Investment Focus Areas: Healthcare, Underserved Populations, Health Technology
- Notable Investments: Strive Health, other companies serving underserved communities (specific examples not provided)
What's Next for Strive Health?
Strive Health stands at the cusp of significant growth opportunities, driven by its value-based care model and strategic partnerships. With a $6 billion pipeline and plans to manage over $2.5 billion in annual medical spend, the company is poised to expand its reach across new markets and deepen existing relationships with payors and health systems. This expansion is crucial as the healthcare industry increasingly shifts towards value-based care models.
Future fundraising opportunities appear promising, given the successful Series C round and the involvement of high-profile investors like NEA and CVS Health Ventures. Strive Health's clear path to profitability and potential for becoming a public company further bolster its financial prospects. However, the company must navigate challenges such as maintaining high-quality care while scaling operations and managing the complexities of different healthcare markets.
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