Today on Health in 2 Point 00, we’re thinking about changing our name to Health in 2 Billion 00. Devoted Health confirmed its $11 billion valuation, bumping it to $12 billion after you count the additional $1.2 billion coming in. Now onto the other 2 billion in deals, BetterUp raises $300 million in a Series C, bringing their total to $569.8 million for performance coaching and resilience training. Honor is growing fast – it raises $370 million ($300M of that is debt), bringing their total to $625M. Elemy, formerly called Sprout, raises $219 million, for children’s behavioral health. Finally, MindMaze raises $125 million, bringing their total to $235 million, working on gamifying digital neurotherapeutics. —Matthew Holt
#Healthin2Point00, Episode 162 | Whoop, Honor, Sidekick Health & more
Today on Health in 2 Point 00, Jess is dismayed at her rising premiums. On Episode 162, Jess and I have more deals to cover. Whoop, which makes a wearable, raises $100 million (including SoftBank money!), bringing their valuation to $1.2 billion. Next, Honor raises $140 million in a Series D and I weigh in on how this tech-enabled home care startup has evolved since it started out. DTx company Sidekick Health raises $20 million for its gamified medication management platform,, and SaaS telehealth platform eVisit gets $14 million—is this any different? Finally, Cricket Health which manages complex kidney diseases early names new CEO Robert Sepucha and raises $15 million. —Matthew Holt
Seth Sternberg talks about Honor
Seth Sternberg was a founder at instant message service Meebo, which was acquired by Google in 2012, and like many tech guys he’s next decided to try to change the health care experience. But unlike many others the aspect he wanted to change was the in home caregiving market, following a bad experience with his own mother. Honor came out from under wraps last year, raised $20m, and is currently operating in Los Angeles and San Francisco. It’s not only a market place where you can hire caregivers for a loved one, but it also allows the client, whether they be the person receiving the care or their loved one–that daughter out of town–to manage the process end to end including booking and paying, and allows the caregiver to report on what they are doing, and follow a careplan.
But beyond that Sternberg is on a mission to “professionalize” the caregivers by not only increasing their pay, but accurately matching them to client needs, and increasing their control over their own situation. To that end Honor recently backed off the Uber independent contractor model and made its caregivers full employees (with stock options!). Very interesting guy with an interesting model. Here’s the interview: