Digital health funding and deals roundup: JP Morgan backs Kindbody
Digital health funding and deals roundup: JP Morgan backs Kindbody unknown
Morgan Health, a JPMorgan business unit focused on employer-sponsored healthcare, said it is investing $25 million in Kindbody, a fertility clinic network and benefits company. Kindbody's model deploys reproductive care from preconception to postpartum through menopause both in person and virtually to employers. The company has 112 large employers, covering more than 2.4 million lives.
In September, Morgan Health invested $20 million in LetsGetChecked, which offers at-home to diagnostic and genetic testing, virtual appointments, and prescription drug delivery. These deals are part of Morgan Health’s plan to devote $250 million to the healthcare space. The unit has invested $105 million to date into companies such as Vera Whole Health, Centivo and Embold Health. The investment bank launched Morgan Health in 2021 following the dissolution of Haven, JP Morgan Chase's joint healthcare venture with Amazon and Berkshire Hathaway.
Dr. Cheryl Pegus, a managing director with Morgan Health Ventures, will join Kindbody’s Board of Directors.
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ODAIA, a software as a service company for pharmaceutical companies, raised a $25 million Series B round. The company uses artificial intelligence to streamline how sales representatives prospect and engage with healthcare providers.
Venture firms Threshold Ventures and Monograph Capital co-led the round. Wittington Ventures also joined with participation from existing investors Flint Capital, BDC Capital’s Women in Technology Venture Fund, StandUp Ventures and Graphite Ventures. Emily Melton, nanaging partner of Threshold Ventures and Charles Conn, co-founder and partner of Monograph Ventures, will join ODAIA’s board.
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Healthy.io, a digital health company focused on developing remote care via smartphone cameras, closed a $50 million Series D funding round led by Schusterman Family Investments. The investment combined with a previously unannounced $45 million February 2022 investment comprise the company's Series D. This part of the round was led by investment firm Schusterman Family Investments and is joined by Aleph and other existing shareholders.
The Israel-based company said it would use the round to focus expansion efforts of its urinalysis and wound care products in the United States. A source within the company said the same week it announced this investment, the company laid off one third of its workforce the week, mostly from Israel and the U.K.
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Uwill, a virtual mental health and wellness solution for colleges and students, raised $30 million in a Series A funding round. Uwill provides teletherapy and other services to more than 150 colleges including Dartmouth College, Florida Gulf Coast University and University of Michigan. Education Growth Partners, a private equity firm that provides growth capital in the education, workplace, and learning sectors, funded the investment.