Some good news on the US funding front for early-stage and second round companies:
New York funding eight startups: Announced at this week’s New York eHealth Collaborative conference was the formation of the New York Digital Health Accelerator, which is intended to accelerate the growth of eight early-stage eHealth companies in its inaugural class. Backed by NYeC and Partnership for New York, along with a syndicate of private investors such as UnitedHealth Group, Janssen and Aetna, each company will receive up to $300,000 and mentoring services from 22 health care organizations, including Continuum Health Partners, North Shore-LIJ Health System and Maimonides Medical Center, plus direct access to the EHR connectivity platform SHIN-NY. All companies have pledged to locate in New York State. One of the eight is Avado, which recently was a big winner on crowdfunding platform MedStartr [TA 30 July]. The initial investment of $4.2 million, which may make it the best funded US accelerator, is projected to create 1,500 NY-based jobs and attract approximately $200 million in additional capitalization to accelerated companies over the next five years. Crain’s NY Business. NYeC release.
University of Southern California’s Center for Body Computing, which has been low profile of late, may get into the digital health incubator/accelerator act….announced at its conference last week. Mobihealthnews.
Healthrageous gets outrageous…funding: This spinoff from Partners Health Care announced acquiring $6.5 million in second-round funding, for a total to date of $15 million. Healthrageous is a smartphone-based personal health management tool to help users prevent and manage chronic conditions through education and monitoring, goal setting and biometric feedback. Their initial target was employers, but their current six-month trial concentrating on diabetes is with a self-insured Florida company through Florida Blue Cross provider Highmark. Healthrageous scoops up $6.5 million to personalize health coaching (Mobihealthnews)
WellDoc’s mobile app funded: The developer of DiabetesManager obtained the first part of a projected $10 million commitment from angel investors. The $508,600 from Sand Hill Group will support WellDoc’s launch next year of the Mobile Diabetes Intervention System, the doctor-prescribed mobile health app that complements DiabetesManager which will help patients to manage their Type 2 diabetes. We’ve noted for TA readers that while well regarded, especially for their pioneering study work, and in the hot diabetes management area, it’s been slow going for WellDoc despite early (2010) FDA 510(k) clearance and allying with AT&T ForHealth. That may well change with their Alere partnership [TA 21 August] via AT&T; certainly the substantial forward financing for WellDoc to go mobile seems to confirm this. The mHIMSS article, picking up on analyst Global Data, has more background and detail. Also: FierceMobileHealthcare Sand Hill Group deal listing (August dated but info just broken to public)