Picked by: Jordan Nof, cofounder and managing partner at Tusk Venture Partners, and Morgan Cheatham, vice president at Bessemer Venture Partners (investor)
What the company does: Abridge, based in Pittsburgh, uses artificial intelligence to structure and summarize information from recorded conversations at the doctor office to reduce the amount of time clinicians spend on documentation.
Funding raised: $27 million
Number of employees: 20
Why it's set to take off next year: Provider burnout is getting worse, and it's exacerbating healthcare's staffing crisis. Nof said he expected Abridge's technology to be in demand next year as hospitals worked to reduce the administrative burdens on doctors.
"They've reached a tipping point where people are desperate to gain efficiencies in their workday with all the physician burnout," he said. "And doctors love it."
Abridge's technology takes the audio from doctor-patient interactions and automatically turns it into documentation for billing purposes or a summary of the visit for the patient.
That means doctors are relieved of the "hours of pajama time in the evening that they previously spent doing clinical documentation," Cheatham said.
— Rebecca Torrence and Shelby Livingston
Picked by: Nof (investor)
What the company does: The New York startup helps mental-health professionals manage their practices with tech tools for teletherapy, scheduling, and billing.
Funding raised: $220.5 million
Number of employees: 398
Why it's set to take off next year: Late-stage fundraises were hard to come by this year, but Alma rose to the challenge, snagging a $130 million Series D in August. Nof said he expected Alma to continue to defy expectations as it dug deeper into the "recession-proof" sector of mental-health care.
"The worse the market gets, more people are going to see mental-health providers," he said. "In addition to that, their core offering is making this more accessible and affordable, so everyone takes insurance.
"That means the more-stressful time doesn't necessarily translate to out-of-pocket costs for individuals."
— Rebecca Torrence
Picked by: Dima Kuzmin, 4BIO Capital (investor)
What the company does: Araris is a Switzerland biotech developing a class of drugs called antibody-drug conjugates to treat cancer. These medicines use antibodies to find and bind to cancer cells, then release a cell-killing component.
Funding raised: $40 million
Number of employees: 13
Why it's set to take off next year: Building on decades of research, ADCs are starting to have an influence on cancer. In 2019, two ADCs, Enhertu and Polivy, were approved to respectively treat types of breast cancer and lymphoma.
"The space is not a black sheep anymore," Kuzmin said.
Kuzmin said recent nonhuman-primate research results showed Araris could produce a more potent version of Polivy. In 2023, Araris plans to apply to start human testing for its first drug candidate, while identifying up to four additional drug targets for further research, Kuzmin added.
— Andrew Dunn
Picked by: Kuzmin
What the company does: Artios wants to harness how cells repair damaged DNA to develop cancer treatments. Specifically, the UK- and New York-based biotech has started human studies testing drug candidates that block certain proteins often found in cancer cells that are involved in that repair process.
Funding raised: $320 million
Number of employees: 96
Why it's set to take off next year: Artios is well-funded, having announced a $153 million Series C round in July 2021, and it has multiple therapies in human trials. The company started a phase-two study in August to treat a type of breast cancer.
"They've made very robust progress and it's a very high-impact space," Kuzmin wrote in an email.
In an email, Artios said it planned to start several more clinical studies in 2023.
— Andrew Dunn
Picked by: Cheatham
What the company does: Atropos uses data from hundreds of millions of anonymized patient records to help doctors answer clinical questions so they can deliver better care.
Funding raised: $14 million
Number of employees: 35
Why it's set to take off next year: Our collective medical knowledge is expanding far too quickly for any single doctor to keep up with. Palo Alto, California's Atropos makes it easier for doctors to access that knowledge "to make a real-time clinical decision based on millions of other patients versus the gut feeling or the call to their friends," Cheatham said.
— Shelby Livingston
Picked by: Lonne Jaffe, managing director at Insight Partners
What the company does: Bayesian Health uses AI to help doctors make better decisions in real time.
Funding raised: $15 million, according to PitchBook
Number of employees: 23, according to PitchBook
Why it's set to take off next year: AI's shortfalls in the healthcare industry have been well documented: Medical information is often more complex than the data health AI is trained on, and the tech continues to underserve minority patients. This is despite an explosion in health-AI funding over the past half decade.
New York's Bayesian Health acknowledges the challenges of bringing AI to healthcare and explains why its method is different: By integrating directly with a hospital's employee medical-data system, the startup's tech can flag high-risk patients without pressuring doctors to agree with its diagnosis.
As a "silent colleague," Bayesian hopes to be a second pair of eyes on patients to help doctors catch serious complications as early as possible.
— Samantha Stokes
Company name: Capital Rx
Picked by: Holly Maloney, managing director at General Catalyst (investor)
What the company does: The pharmacy-benefit manager, which serves as an intermediary between pharmaceutical companies and the entities paying for drugs, like employers and health insurers, wants to provide more-affordable and -transparent pricing for prescription drugs and make it easier for pharmacies to get reimbursed. Capital Rx is headquartered in New York.
Funding raised: $175 million
Number of employees: 440
Why it's set to take off next year: Maloney said Capital Rx was helping health insurers and health systems provide better patient care at lower costs, while driving down administrative spending. The approach has gotten the industry's attention, she said.
"The pharmacy space has glaringly lacked modern infrastructure and a fully transparent pricing model, so they are seeing significant interest from stakeholders," Maloney said.
— Rebecca Torrence
Picked by: Michael Baran, partner at Pfizer Ventures (investor)
What the company does: San Diego's Capstan is developing cellular-repair therapies that work inside the body. By packaging mRNA into nanoparticles, it hopes to program living cells inside the body to target harmful cell types.
Funding raised: $165 million
Number of employees: 57
Why it's set to take off next year: Baran told Insider that Pfizer was very interested in targeted medicine using lipid nanoparticles to build off the success of the COVID-19 vaccine it developed with BioNTech.
Research published in Science found that Capstan was able to program CAR T-cells to repair heart damage in a mouse model using lipid nanoparticles.
"I think anyone that can deliver RNA or DNA in the liver or beyond is going to be a very sought-after area," Baran said.
He predicted that near the end of 2023, Capstan would be able to show it could do a similar process in monkeys. Baran said he thinks Capstan will be among the first to start human trials, which are likely to begin in 2024 or 2025.
— Sarah Braner
Picked by: Aike Ho, a partner at ACME Capital (investor)
What the company does: Conceivable aims to create software and hardware that automate in vitro fertilization, helping technicians create embryos with fewer errors.
Funding raised: $9 million
Number of employees: 20
Why it's set to take off next year: Ho predicts that in 2023, companies that merely bring existing services to the internet will fall out of favor, she told Insider. But Conceivable and similar startups that invent technology will likely receive more investment, she said.
Conceivable, which hasn't publicly launched, hopes to automate elements of the IVF process to make it less unpredictable and less expensive, because using robots instead of humans would cause the $20,000 to $40,000 price to nose-dive, Ho said.
"We're going through a really tumultuous time in digital health," she said. "It'll be a painful time for the industry, but I think it'll be good because it'll force us to really focus on the companies that are truly building something."
— Blake Dodge
Picked by: Ho
What the company does: Future Family provides loans to people for egg freezing, IVF, and related expenses so they can spread out the cost of care.
Funding raised: $150 million
Number of employees: 70
Why it's set to take off next year: As people continue to have children later and later in life, demand for fertility treatments is increasing, Ho told Insider. San Francisco's Future Family is making that care more affordable by working with clinics to help people finance their treatment plans instead of having to pay for everything up front, she said.
"IVF is going to be a way bigger thing than it is today for the next 20, 30 years," Ho said. "And I think a lot of companies and products that are tackling that space like Future Family — their market is only getting bigger."
— Blake Dodge
Picked by: Issi Rozen, GV venture partner
What the company does: The Israeli biotech is researching new cancer-cell therapies that attack solid tumors.
Funding raised: $4.5 million
Number of employees: 8
Why it's set to take off next year: While cell therapies like CAR T-cell therapy have been dramatically successful in treating types of blood cancer, they've disappointed against solid tumors for several reasons.
One is that the immune system can have a hard time identifying and targeting solid tumor cells. Gilboa hopes its new cell therapy, SolidT, can direct engineered immune cells to selectively destroy cancerous cells in these tougher-to-treat types of cancer.
Gilboa's technology comes from the laboratory of the cancer researcher Yaron Carmi at Tel Aviv University, though the company plans to eventually be headquartered in Boston as it grows. Carmi's research is "very creative, impressive, and differentiated," Rozen said in an email.
"This seems to lead to more potent and specific killing of cancer cells," he added.
He also highlighted that it hired in June an experienced biotech CEO in Barry Labinger. Labinger was most recently the CEO of Checkmate Pharmaceuticals, which was acquired by Regeneron Pharmaceuticals this year for $250 million.
In 2023, Gilboa expects to close a Series A round and finalize plans on starting its first human studies.
— Andrew Dunn
Picked by: Stephen Berenson, managing partner at Flagship Pioneering (investor)
What the company does: Harbinger Health is a biotech company focused on developing blood tests to detect early cancer.
Funding raised: $50 million
Number of employees: 40
Why it's set to take off next year: Detecting cancer early can help patients get the treatment they need faster and increase survival rates. Led by Stephen Hahn, a former Food and Drug Administration commissioner, Harbinger Health is looking to develop a multicancer blood test to do just that.
The Cambridge, Massachusetts, startup said in June that it had started a 10,000-participant clinical study in collaboration with the Sarah Cannon Research Institute to test its platform to validate the accuracy of its tests for multiple types of cancer.
"The Harbinger platform is based on a range of unique insights into the biological origins of cancer, which have broad-reaching implications," Berenson said. He added that by targeting early cancer detection, the company was going after "the fundamental, unsolved problem in cancer diagnostics."
— Yeji Jesse Lee
Picked by: Christopher Booker, partner at Frist Cressey Ventures
What the company does: Homeward provides primary and specialty care to rural communities through virtual care and mobile clinics.
Funding raised: $70 million
Number of employees: 57
Why it's set to take off next year: San Francisco's Homeward Health is tackling one of healthcare's biggest problems: improving access to care for people living in rural areas, where enough doctors are hard to find. The company, which launched in March, has already struck a partnership with the national pharmacy chain Rite Aid, helping to quickly expand Homeward's reach.
Frist Cressey invested in another company focused on improving care in rural areas, called Main Street Health, but the space is big enough for multiple winners, Booker said. He's betting Homeward will be one of them.
"That is a great company. They've raised from General Catalyst and several other groups, and they do a really good job," Booker said.
— Shelby Livingston
Picked by: Fletcher Gregory, principal at General Atlantic (investor)
What the company does: San Francisco's Included offers navigation services, as well as primary care, psychiatry, expert medical opinions, and more, to employers and health plans.
Funding raised: $510 million
Number of employees: More than 2,000
Why it's set to take off next year: As employers tighten their budgets because of the worsening economy, they'll be looking for solutions like Included's, Gregory told Insider. Since the company tackles a bigger portion of patient care than those that handle only a single condition, such as diabetes, it's in a better position to reduce medical costs, he said.
Included is the combined entity of Grand Rounds, the navigator, and Doctor on Demand, a primary-care startup, which merged in 2021. The company had planned to go public in 2022, Insider reported in December 2021.
A spokesperson for Included declined to comment on a timeline for an initial public offering but said the company had healthy financials, expansion potential, and positive growth momentum.
"Regardless of whether we are a private or public company, our priority will always be to deliver value to our clients and members — a commitment that also happens to be in the best interest of our shareholders," the spokesperson said in a statement to Insider.
— Blake Dodge
Picked by: Lily Huang, principal at NEA
What the company does: The San Francisco startup provides software that integrates health information from disparate sources, like electronic health records and insurance claims, and analyzes that data to help health systems and payers improve patient care.
Funding raised: $375 million
Number of employees: More than 1,400
Why it's set to take off next year: Huang said big data startups like Innovaccer would be in high demand next year as care-delivery organizations, including some of NEA's portfolio companies, sought to innovate their data strategies. Hospitals and health insurers will need data-analytics tools to provide predictive insights and prioritize better outcomes in patient care, she said.
"That infrastructure piece is going to get a lot of attention," she said. "Everyone's looking for a partner when it comes to a new way to care for patients and figure out how to staff and target your population health-management solution."
Innovaccer was one of many high-flying digital-health startups to lay off employees this year, cutting about 6% of its workforce in September.
— Rebecca Torrence
Picked by: Rozen (investor)
What the company does: The Netherlands biotech is developing an addition to the tool kit for fighting pandemics and viruses: antibody sprays. These nasal sprays could prevent viruses from spreading beyond the nose and mouth. Leyden is initially focused on the flu.
Funding raised: $200 million
Number of employees: 62
Why it's set to take off next year: In a tough market, Rozen said he looked for two key attributes in companies: a strong scientific foundation and a leadership team that can translate that science into medicines. Leyden Labs checks both boxes, Rozen said.
Rozen called 2023 a "pivotal year" for Leyden. The biotech said it planned to start human testing of its first flu-prevention drug in the first half of 2023.
— Andrew Dunn
Picked by: Missy Krasner, venture chair at Redesign Health (investor)
What the company does: MedArrive works with health plans and health systems to deploy providers such as nurses and paramedics to people's homes to connect them to local resources and provide exams, diagnostics, vaccines, and more. If needed, patients can consult with physicians via telehealth.
Funding raised: $32.5 million
Number of employees: 40
Why it's set to take off next year: Krasner predicts a huge surge in home health in 2023.
Home visits are cheaper than hospital visits, and health plans are increasingly looking to offer care in people's homes to save money, she said. The trend has been helped by Medicare Advantage plans, private plans paid for by the government to take care of older Americans, getting more creative with home benefits and working with members' caregivers.
New York's MedArrive is focused on vulnerable populations like those enrolled in multiple federal health plans, helping them land key deals with the likes of Scan Health Plan in California, Krasner said.
— Blake Dodge
Picked by: Booker (investor)
What the company does: Monogram Health works with health plans to deliver at-home kidney care, primary care, and benefit-management services to people with chronic kidney and end-stage renal disease.
Funding raised: $180 million
Number of employees: More than 1,000 full-time employees, including 700 clinicians
Why it's set to take off next year: Health insurers are increasingly looking for partners to help them tame the cost of expensive specialty care, and kidney care is one area getting a lot of interest from insurers and investors.
Brentwood, Tennessee's Monogram Health, which was founded in 2019 and is already caring for patients across 34 states, "has demonstrated, clinically and financially, significantly improved outcomes for the population they're going after," Booker said.
For example, according to its website, Monogram has managed to reduce its patients' hospital readmissions and nearly triple the rate at which patients undergo dialysis in their homes, compared with the national average.
— Shelby Livingston
Picked by: Antoine Papiernik, chair and managing partner at Sofinnova Partners (investor)
What the company does: Moon Surgical is a medical-robotics company that has developed a system called Maestro, which helps surgeons better perform minimally invasive soft-tissue surgeries.
Funding raised: $37 million
Number of employees: 22
Why it's set to take off next year: Moon Surgical, based in France and the US, is creating robotics to help doctors perform surgeries better, directly in the operating room. Its first robotics system, Maestro, is designed to help surgeons with minimally invasive — also known as laparoscopic — surgeries.
The FDA cleared the robot on December 6 for its use in surgeries. Papiernik cited the fact that Moon Surgical got clearance from the FDA just three years after its founding as one of the reasons it's likely to take off next year.
"Moon Surgical's surgical tools have the potential to empower surgeons by helping them to reduce discrepancies and imbalances in surgical care," Papiernik told Insider over email.
— Leah Rosenbaum and Yeji Jesse Lee
Picked by: Gregory
What the company does: Notable uses artificial intelligence to automate repetitive tasks at health systems such as patient intake and getting authorizations from health plans for care.
Funding raised: $126 million
Number of employees: 168
Why it's set to take off next year: Health systems and provider groups are dealing with a significant labor shortage, made worse over the past year by folks retiring early, burned out from the coronavirus pandemic and mundane tasks like dealing with insurance companies, Gregory told Insider.
With fewer workers around, health systems will have to turn to companies such as San Mateo, California's Notable for tools that allow clinicians to automate some of the paperwork, he said.
"Because they can't just create new nurses or doctors out of thin air, they'll have to do more with the existing providers that they have," Gregory said.
— Blake Dodge
Picked by: Devin Carty, CEO of Martin Ventures
What the company does: OneOncology in Nashville, Tennessee, helps community cancer practices remain independent by improving their operations and supporting them with capital and technology. Its network of 850 cancer-care providers has worked with about 500,000 patients, according to the company.
Funding raised: $200 million
Number of employees: 200 corporate employees
Why it's set to take off next year: Cancer continues to be one of the biggest killers in the US and among the costliest diseases to treat.
Carty said he's a big fan of OneOncology's leadership team and its business model of partnering with cancer-care practices that want to stay independent.
— Shelby Livingston
Picked by: Jaffe (investor)
What the company does: Overjet uses AI to help dentists better treat patients.
Funding raised: $77.4 million, according to PitchBook
Number of employees: 124, according to PitchBook
Why it's set to take off next year: Founded in 2018, Overjet's AI helps dentists improve their efficiency and communication with patients and helps insurers streamline their claims-review process.
AI has been driving healthcare innovation for years, and investors have pumped billions into healthcare AI since at least 2019. In the dental space alone, Overjet, in Boston, is competing with a smaller startup, Pearl, which has raised $11 million in venture funding.
Overjet "makes it easier for dental payers, providers, and patients to communicate and work together to dramatically improve care worldwide," Jaffe, who led Oversight's $42.5 million Series B funding round in 2021, said.
— Samantha Stokes
Picked by: Papiernik
What the company does: Owkin is focused on discovering and developing precision drugs using artificial intelligence.
Funding raised: $305 million
Number of employees: 260
Why it's set to take off next year: The French American company uses AI to identify patterns in diseases and subtypes patients based on their biology, with the goal of developing better treatments for patients. It has partnered with pharmaceutical companies like Amgen to apply its AI platform in clinical trials to better understand and predict severe cardiovascular disease.
Papiernik said he believed 2023 would be another promising year for AI in healthcare.
"Because of their proprietary technology, more patients will be able to benefit from targeted therapies, making precision medicine more accessible to patients at an earlier stage of their disease," Papiernik said.
— Yeji Jesse Lee
Picked by: Elizabeth Galbut, a cofounder and managing partner at SoGal Ventures (investor)
What the company does: Real offers digital tools such as check-ins, guided exercises, and live workshops to help people improve their mental wellness.
Funding raised: $53 million
Number of employees: 37
Why it's set to take off next year: Real is putting a cache of therapist-developed mental-wellness tools directly at peoples' fingertips. Founded in 2019 by Ariela Safira, the New York startup has raised $53 million in VC funding from firms like Lightspeed Partners, as well as from the US soccer star Megan Rapinoe.
Real uses a membership model to provide a suite of on-demand wellness tools such as audio and video learning, reflection exercises, and therapist-led live events. The startup charges $24 a month or $165 for a yearly membership.
"We're still dealing with all of the consequences of the past three years of a global pandemic, and with the massive layoffs occurring in tech, many individuals may lose access to their health insurance and need to look for more accessible and affordable ways to get access to mental-health care," Galbut said.
— Samantha Stokes
Picked by: Christian Angermayer, founder of Apeiron Investment Group (investor)
What the company does: Rejuveron Life Sciences is a biotech-platform company whose portfolio companies focus on developing drugs to treat age-related diseases.
Funding raised: 78 million Swiss francs, or around $83.5 million
Number of employees: 24
Why it's set to take off next year: In addition to being a company itself, Rejuveron Life Sciences serves as a platform made of five individual startups, all of which are focused on the theme of longevity.
The Zurich, Switzerland-based startup focuses on ailments like muscular atrophy and age-related eye conditions. Two of its platform companies are in clinical stages, while three are in the preclinical stage.
For Angermayer, Rejuveron's business structure gives the company "multiple shots on goal with efficacy data," which, in turn, increases the chances of success.
"We believe in Rejuveron's view that its drugs eventually will serve a dual purpose as prophylactic drugs that can be taken by healthy people to extend the human health span and offset the health-related risks of aging," he said.
— Yeji Jesse Lee
Picked by: Parul Singh, partner at Initialized Capital (investor)
What the company does: The startup offers at-home and in-clinic lab tests, primarily through universities and employers, and delivers test results through its app, which helps connect patients with follow-up-care options.
Funding raised: $12 million
Number of employees: 53
Why it's set to take off next year: Singh said she thinks diagnostic tools will still be in demand as the economic downturn progresses — "people are still getting sick," she said.
Simple HealthKit's proprietary-diagnostic tools, which include tests for STIs, influenza, and other conditions, are "better, faster, and cheaper" than other tests on the market, Singh said. She said the Fremont, California-based startup plans to launch its products in retail stores next year.
— Rebecca Torrence
Picked by: Lily Huang, principal at NEA (investor)
What the company does: Strive Health works with primary-care physicians and kidney-care specialists to help manage care for patients with kidney disease.
Funding raised: $223.5 million
Number of employees: 475
Why it's set to take off next year: NEA helped build the Denver-based Strive Health in 2018, and the startup has been growing rapidly since then, Huang said. Kidney care requires frequent office visits, so patients see their kidney-care specialist more frequently than many other types of clinicians, and Huang predicted kidney-care companies will still be able to thrive in a looming recession.
Strive Health partners with health systems and kidney-care specialists, as well as insurers like Humana, to help manage outcomes-based care for patients with kidney disease by providing tech for predictive analytics and telehealth.
Huang predicted that there will be plenty of M&A in the kidney-care market next year, and she said she expects Strive Health to expand its partnerships.
— Rebecca Torrence
Picked by: Parul Singh, partner at Initialized Capital
What the company does: With Summer Health, parents can message a clinician at any time with a question about their child's health and get a response within 15 minutes. The New York-based startup costs $20 a month and works with both pediatricians and specialist doctors.
Funding raised: $7.5 million
Number of employees: 8
Why it's set to take off next year: Summer Health is in its early stages, landing a seed round in July. Singh said there's plenty of room for the company to grow and cater to the millions of parents in the US looking for an easier way to get medical help for their children.
"There are all these pockets in healthcare where things are bureaucratic and not efficient," she said. "It's just really hard and stressful to get pediatric care."
Singh said she's also a fan of Summer Health's CEO, Ellen DaSilva, who she called a "fantastic founder." A former Hims & Hers executive, Insider named DaSilva to our list of the 30 leaders under 40 transforming healthcare in 2022.
— Rebecca Torrence
Picked by: Baran
What the company does: The Watertown, Massachusetts-based Tome is taking CRISPR gene editing from editing short spans of DNA to targeted editing of entire genes.
Funding raised: 95 million, according to PitchBook
Number of employees: 150, according to PitchBook
Why it's set to take off next year: Tome is bringing a new generation of CRISPR therapies into the limelight. Instead of editing short stretches of DNA, it uses a technique called PASTE to change whole genes.
Through this targeted editing, Tome aims to insert genes exactly where it wants them, ideally avoiding potential mistakes.
Baran predicted that Tome will raise a Series B, echoing what an investor told STAT News in September.
— Sarah Braner
Picked by: Berenson
What the company does: Treeline Biosciences is a biotech company focused on developing cancer treatments for targets in the body that are difficult to drug.
Funding raised: $473 million, according to PitchBook
Number of employees: 120, according to PitchBook
Why it's set to take off next year: Josh Bilenker and Jeff Engelman, the cofounders of Treeline Biosciences, said in April 2021 that the company is incorporating an array of disciplines — like biology, chemistry, and computation — to develop its platform. The details around the therapies the company is working on have not been made public.
The Stamford, Connecticut-based Treeline did not respond to Insider's request for comment.
Berenson said that while Treeline has been working quietly over the past few years, he believes the company is well-positioned for an extended bear market.
The startup is "lasering in on the intersection of target validity, druggability, and unmet medical need" to develop a portfolio of new cancer therapies, he said.
— Yeji Jesse Lee
Picked by: Maloney
What the company does: The San Diego-based startup helps people shop around for affordable healthcare by comparing healthcare-service prices on its website.
Funding raised: $25.3 million
Number of employees: 58
Why it's set to take off next year: The healthcare industry is increasingly pushing for value-based care models, which reward clinicians for better patient outcomes rather than the volume of services they provide. Maloney said Turquoise Health's platform will support that shift by forcing providers to compete on high-quality, cost-effective care.
The startup "rewards providers and payers for enabling consumers to be fully informed and empowered in their decision-making," she said.
— Rebecca Torrence
Picked by: Carty (investor)
What the company does: The Nashville-based Wellvana helps independent primary-care doctors succeed in payment arrangements that reward doctors for improving patients' health and lowering their costs.
Funding raised: $45 million
Number of employees: 152
Why it's set to take off next year: Wellvana is growing rapidly thanks to a few trends, Carty said. The startup supports doctors taking care of seniors enrolled in the private-health-plan market for people 65 and over, where membership is surging, he said. It's also enabling the US health system's shift toward "value-based" care, which shows no signs of slowing.
"It's reducing total cost of care in the system," Carty said of Wellvana. "In a down economy, that's always a good thing."
— Shelby Livingston
Picked by: Krasner
What the company does: The Austin, Texas-based Wheel sells access to its clinician network and technology solutions to provider companies — mostly startups, lab networks, tech companies, and retailers — looking to start up telehealth offerings.
Funding raised: $216 million
Number of employees: 174
Why it's set to take off next year: With the boom in virtual care, many clinicians are looking for part-time, online gigs, while many provider companies are looking for staff to expand their online offerings, Krasner told Insider. Wheel capitalized on that trend, providing the infrastructure needed to connect the two parties. She groups the company, which CEO Michelle Davey leads, into what she calls the "picks-and-shovels business," because it's doing the unsexy work to power healthcare behind the scenes.
"No one wants to invest in picks and shovels," Krasner said. "But this was brilliant. Michelle and team saw this huge virtual wave, and they were like, 'Hey, who's going to power this?'"
In August, Wheel cut 17% of its staff accompanying a business shift, Davey said in a memo shared with Insider. The company raised $150 million last January, closing the round earlier than planned to account for economic uncertainty, Davey said in the memo.
— Blake Dodge
댓글 없음:
댓글 쓰기