Kidney care company Strive Health scored a whopping $166 million in Series C funding led by NEA alongside strategic investor CVS Health Ventures.
Existing investors CapitalG (Alphabet), Town Hall Ventures, Redpoint, Echo Health Ventures and Ascension Ventures also participated in the round.
WHAT IT DOES
The Denver-based company offers a value-based care platform that integrates chronic kidney disease and end-stage renal disease patient data from various systems into one platform. The technology was designed to identify disease progression and make predictions about a patient’s condition.
The company also offers patients support through kidney transplants and dialysis. Patients access dialysis through traditional methods or home hemodialysis through Strive’s collaboration with Outset Medical.
The funds will be used to expand partnerships with Medicare, commercial and Medicare Advantage payors, physicians and health systems.
“With the new funding, we’ll continue to grow in new markets and scale in our current markets as those become more dense. We’ll do this by refining our care model, enhancing our technology delivery and scaling the business across the U.S.,” Chris Riopelle, CEO and cofounder of Strive, told MobiHealthNews in an email.
“For the next phase of company growth, we’ll also continue to attract and retain our great employees as this is the building block of what makes the company successful. We know we can only take care of other people well when we take care of our own people, or what we call Strivers, first.”
MARKET SNAPSHOT
In 2021, Strive Health garnered $140 million in Series B funding, led by Alphabet’s growth fund CapitalG, which was expected to give the company “unique access” to Google and Alphabet assets.
Since then, the company’s partnered with nephrology group Southern California Kidney Consultants and not-for-profit Catholic healthcare system Trinity Health to improve kidney care for patients.
Another company in the kidney care space is tech-backed chronic kidney disease and end-stage renal disease management company Monogram Health. Monogram scored a whopping $375 million in growth funding in January, just two years after it closed a $160 million Series B funding round,
