Molly Bonakdarpour’s Post

🔎 Go #BehindtheTermSheet of our latest investment in Sidecar Health — the LA-based insurtech bringing transformative transparency and access to the healthcare industry. We initially invested in Sidecar Health back in 2020, leading its Series B. A lot has changed since then — but our conviction in the company and its core mission, making healthcare more accessible and affordable, has not. Fresh off our reinvestment, joining its $165M Series D led by Koch Disruptive Technologies, our SF team digs into what has drawn our continued support for Sidecar Health including: 🏆 the model,  📈 the traction,  🚀 its entrance into the employer insurance market and  🔮 what’s next. Read on here 👇 https://lnkd.in/gkiPEewg CC: Patrick Quigley, Cathay Capital, Denis Barrier, Ming-Po Cai, Simon Wu, Elijah Yi, Jaclyn Gottlieb (Hartnett) #startupfunding #venturecapital #insurtech #healthcare #insurance

Headway's Healthcare Tech Revolution: $125M Series C Funding Marks $1 Billion Valuation Headway, the innovative healthcare tech startup that bridges the gap between patients and in-network therapists, has successfully secured a remarkable $125 million in Series C funding, catapulting the company to an impressive valuation of $1 billion. The funding round was led by Spark Capital, with strong participation from existing investors such as Thrive Capital, Accel, and Andreessen Horowitz. Notably, insurance giant Health Care Service Corporation also joined this transformative round of financing. 🌐 Transforming Healthcare Access with Headway Headway's mission is clear: to revolutionize healthcare access by connecting patients with a network of qualified therapists. Through its user-friendly platform, Headway provides a seamless and stigma-free way for individuals to access essential mental health support when they need it most. 📈 The Billion-Dollar Milestone The $1 billion valuation Headway has achieved is not just a financial achievement; it's a testament to the startup's commitment to making quality healthcare accessible to all. This significant investment is a recognition of Headway's pivotal role in addressing the pressing mental health needs of our society. 🤝 Leading the Charge Spark Capital's leadership in this funding round underscores the belief in Headway's vision and the potential to transform the healthcare landscape. With continued support from prominent investors like Thrive Capital, Accel, and Andreessen Horowitz, Headway is well-positioned to drive lasting change in the healthcare sector. 💼 Expanding Partnerships The participation of Health Care Service Corporation, one of the largest health insurance providers in the United States, is a testament to the potential for collaboration between tech startups and established players in the healthcare industry. This partnership could pave the way for innovative solutions that improve healthcare access and outcomes for millions. For more in-depth information, read https://shorturl.at/mDLPS #Headway #HealthcareTech #MentalHealth #Innovation #Funding #HealthInsurance #TechForGood

Last week, gleam officially launched their product to empower independent insurance brokers to easily implement self-funded health plans for their clients. A huge congrats to Oliver Keh and Emeka Itegbe and thank you for letting us co-lead your pre-seed round earlier this year alongside 1984 Ventures with Hustle Fund, Liquid 2 Ventures and Y Combinator also investing. Looking at the market for self-funded healthcare plans in the US, 80% of employees at large firms (> 500 workers) are enrolled in such plans which offer much more customization at a fraction of the cost vs. cookie-cutter health plans. At the same time, only 20% of workers at small firms are enrolled in self-funded plans as both independent brokers and these SMBs don't have the bandwidth or expertise to implement and administer self-funded plans on their own. gleam makes it easy for independent brokers to build customized, self-funded health plans for their clients. Thereby: ➡️ Employers get better healthcare benefits, while paying less. ➡️ Brokers get to keep their clients longer, while reducing their workload. A win win for everyone, presenting a huge market opportunity for gleam. If you want better benefits at lower cost, connect your broker with gleam. As for the team, here are a few fun facts you need to know... 🤝 we met gleam through a chat with Oliver in the subreddit r/startups 🐈 Oliver is a foodie, a self-proclaimed healthtech nerd, and lives with his wife and 3 cats ☕️ Emeka has NEVER had a coffee and he proposed to his partner in an elaborate escape room 💍 (how cool!?) Daniel Darling | Pascal Unger | Sydney Wasikowski

I ran across this article and felt compelled to share it. The article is about a the failure of a joint venture launched by 3 of America's top business men and billionaires to address the cost of health care. But what caught my attention was the author points out that solutions already exist. The 2 points in particular that caught my attention are: 1. "There’s no mystery about why America’s healthcare system is so expensive — roughly twice the cost, per capita, of the average spending in other developed countries. The solution was set forth in a seminal 2003 paper by Gerard F. Anderson of Johns Hopkins and the late Uwe Reinhardt of Princeton, titled: 'It’s the Prices, Stupid.'" Well duuhh . . . 2. "As the Kaiser Family Foundation reported, the spending by America’s public healthcare programs (Medicare, Medicaid, and the Children's Health Insurance Program) very closely matches that of other developed countries, at about 8.4% of GDP. Where the U.S. is an outlier is in spending by the private sector, through commercial health insurance. There the U.S. spends an additional 8.6% of its GDP on healthcare, compared with only 2.4% by other countries." Again, "It's the Prices, Stupid." I can't emphasize enough that solutions already exist. As David Anderson, health policy expert, Duke University, put it, "We have good ideas on how to reduce costs. They mainly involve a variety of ways of saying, ‘No’ or at least saying, ‘No, not at this price.'”

Turmoil in the public market isn't exclusive to just the United States... Summary: This article discusses the insolvency of Babylon Health, a London tele-health startup, and the subsequent sale of its assets to eMed Healthcare UK. Key takeaways: Babylon Health was once valued at nearly $2 billion and had backing from DeepMind and health insurance companies. GP at Hand, an app and service powered by Babylon, is not a part of the sale and is still operational. Babylon moved to the U.S. market on the back of a $4 billion+ SPAC plan in 2021. Counter arguments: Babylon had been facing serious drama in its core business for many months prior to the sale. It is unclear if eMed can make a profit out of a business that so clearly fell apart under its previous owner. #IPO #publicmarket #latestage #healthcare #tech

Sidecar Health Secures $165M to Disrupt Employer-Sponsored Healthcare - HIT Consultant #Funding: Sidecar Health Secures $165M Sidecar Health, a healthcare technology company, has recently secured $165 million in funding to disrupt employer-sponsored healthcare. This significant investment will allow Sidecar Health to expand its innovative approach to healthcare coverage. #Disrupting Employer-Sponsored Healthcare Sidecar Health aims to disrupt the traditional model of employer-sponsored healthcare by offering a more flexible and transparent alternative. With its unique approach, Sidecar Health empowers individuals to take control of their healthcare spending and make informed decisions about their care. #Transparent Pricing Model One of the key features of Sidecar Health's platform is its transparent pricing model. This allows users to see the cost of healthcare services upfront, enabling them to compare prices ai.mediformatica.com #health #healthcare #insurance #market #provider #funding #partnership #duke #fundinground #healthinsurance #healthcaresystem #innovation #digitalhealth #healthit #healthtech #healthcaretechnology @MediFormatica (https://buff.ly/45Kgwe2)

The #insurtech landscape has been nothing short of a rollercoaster since the IPOs of key players like Bright Health, Oscar Health, Clover Health, and ALIGNMENT HEALTHCARE USA, LLC. These companies aimed to disrupt traditional healthcare insurance but have faced financial turbulence, with some even teetering on the edge of delisting. 🔵 Bright Health raised a staggering $924.3M in its IPO and secured $750M from Cigna Healthcare. However, it's now slimming down its services and selling off assets to stay afloat. 🟢 Oscar Health saw enrollment swell to over 1M members, thanks to the Biden administration's extended ACA enrollment period. Yet, it's still struggling to turn a profit. 🔴 Clover Health took an unconventional IPO route via a SPAC and faced legal challenges, but it's showing signs of financial recovery. 🟡 Alignment Healthcare has been focusing on quality and strategic investments, resulting in consistent growth in both membership and revenue. The journey for these insurtechs is far from over. They're adapting, pivoting, and, in some cases, partnering with giants like Cigna to navigate the complex healthcare landscape. The story is still unfolding, and it's one worth watching closely. #Insurtech #Healthcare #IPO #Innovation #Finance https://lnkd.in/gegVJQMY

“A company that strives to be a disrupter needs to look really hard in the mirror and make sure it’s doing something different” …and I would personally add SUPERIOR, not merely different Health #insurtech full stack carries haven’t done better than their P&C peers https://lnkd.in/dUFTkQ6T 🔹 “insurtechs had medical costs that were higher than the revenues they were getting” 🔹 “that insurtechs in general “didn’t understand the dynamics of the health insurance ecosystem” 🔹”Clover Health went public in January 2021 with a $7 billion valuation, Oscar Health went public in March 2021 with a $7 billion valuation, and Bright Health Group went public in June 2021 with an $11 billion valuation” 🔹 “As of December 5, Clover Health had a $484.2 million market cap, Oscar Health had a $1.9 billion market cap, and Bright Health Group had a $52 million market cap” #iotinsobs #insurtech

The importance of understand deeply business and ecosystems dynamics, and set realistic expectations...

ZenZen Diabetes Support Bootstrap Chronicles #6: Challenging the Scientific Basis! Received some feedback from an early-stage investor yesterday: "I don't see a strong IP and scientific basis for the solution." 🤔 Well, when we're in the early stages and bootstrapping - wasn't a secret, we might not have a lab coat, but we do have firsthand experience and a solid understanding of the problem because we've got patient insights by ourselves - yes it is patient innovation - and tons of interviews. We've got a GP who is an internists too, and an MD who is an AI expert on our team and advisory board. What more do you need from an early-stage startup? Instead of dwelling, let me share a bright spot: Flashback to the Insuring Digital Health event by 5-HT Digital Hub - Chemistry & Health where we pitched to 8 German health insurance companies. Two wanted to buy subscriptions and two were really interested in! The catch? We need a CE mark, and to get that, we need some funds. Classic startup catch-22. How do we break this loop? Calling all health insurance companies, university researchers, diabetes advocates, forward thinking companies who care about pregnant women, to join our mission! Let's prove the naysayers wrong. We've got a study design thanks to Salomé Azevedo, a product to test—let's partner and make a change together! Teaming up with ZenZen opens doors to a world of collaborative possibilities: 1️⃣ Research Impact: Contribute to cutting-edge research in gestational diabetes management, boosting your institution's academic standing. 2️⃣ Innovative Partnerships: Build strategic alliances with a pioneering health tech startup, exploring new ways to tackle healthcare challenges. 3️⃣ Tech Integration: Incorporate ZenZen's innovative solutions into your health initiatives, adding value to your ecosystem. 4️⃣ Thought Leadership: Stand out as a thought leader by supporting a startup on a mission to transform global diabetes management. 5️⃣ CSR Innovation: Redefine corporate social responsibility by backing initiatives that make a tangible impact on women's health. Collaborating with ZenZen is about shaping the future of healthcare and making a lasting mark in the realm of digital well-being. At ZenZen, we're not just building an app; we're improving lives, we're transforming diabetes management. Starting with expectant mothers, we're on a mission to make diabetes journeys easier, less stressful, and more informed. Let's embark on this transformative journey together! Drop me a message!🌟💙 #zenzenapp #healthtechinnovation #researchrevolution #research #researchpublication #researchanddevelopment #researcher #zenzenformothers #collaboration #collaborationopportunity #dogoodfeelgood #healthcare #gestationaldiabetes #diabetesmanagement #diabetesawareness #diabetes #pregnancy #pregnantwomen #pregnancyjourney #makeadifference #makechange #valuebasedhealthcare