Lemhi Ventures

Lemhi Ventures is a venture capital firm established in 2006 and based in Minnetonka, Minnesota. The firm specializes in early and seed-stage investments within the healthcare services industry, focusing on companies that offer innovative business models capable of disrupting the market. Lemhi Ventures typically seeks to be a lead investor and often takes board seats or partners with portfolio companies to guide their growth. The firm does not engage in investments related to medical devices or specific therapeutic developments. With a team of experienced entrepreneurs and executives, Lemhi Ventures leverages diverse backgrounds to identify and support emerging companies across the United States.

Tony Miller

Managing Partner

Anthony Miller

Founder and Managing Partner

John Park

Partner

Matt Scholl

General Partner

22 past transactions

Aegle Health Partners

Seed Round in 2021
Aegle Health Partners specializes in risk management services aimed at transforming stop-loss reinsurance for health payers and self-insured employers. The company offers an innovative model that delivers effective tail protection comparable to traditional reinsurance, but at a cost that is over 25% less. Aegle Health Partners distinguishes itself by eliminating lasers and exclusions, thereby providing full upfront population health credit. By leveraging advanced financial engineering and technology, Aegle Health Partners seeks to disrupt the conventional health reinsurance landscape, catering to the needs of insured health payers, governments, and at-risk providers.

Bind Benefits, Inc.

Series B in 2020
Bind Benefits, Inc. is a health insurance company based in Minneapolis, Minnesota, founded in 2016. It offers tailored health insurance services to individuals, families, employers, and healthcare providers. Unlike traditional health insurance models, which often charge for unnecessary services, Bind allows customers to pay only for the coverage they need and offers the flexibility to adjust this coverage as their needs change. The company distributes its services through brokers, consultants, and online platforms, ensuring accessibility and adaptability for its clients.

Bind Benefits, Inc.

Series A in 2018
Bind Benefits, Inc. is a health insurance company based in Minneapolis, Minnesota, founded in 2016. It offers tailored health insurance services to individuals, families, employers, and healthcare providers. Unlike traditional health insurance models, which often charge for unnecessary services, Bind allows customers to pay only for the coverage they need and offers the flexibility to adjust this coverage as their needs change. The company distributes its services through brokers, consultants, and online platforms, ensuring accessibility and adaptability for its clients.

Digital Reasoning

Series D in 2018
Digital Reasoning Systems, Inc. specializes in developing data analytic solutions that process and organize unstructured data into meaningful insights. The company's flagship product, Synthesys, is an entity-oriented analytics software that automates the categorization, linking, retrieval, and profiling of unstructured data. It incorporates advanced features such as natural language processing, entity resolution, geo reasoning, temporal reasoning, and link analysis, while also providing visualization tools to illustrate connections within data sets. Digital Reasoning serves a diverse range of sectors, including government, legal, medical, and financial markets, and offers solutions tailored for intelligence analysts and cloud security. Founded in 2000 and headquartered in Franklin, Tennessee, the company maintains additional offices in New York City, Washington, D.C., and London, U.K. Digital Reasoning has established strategic partnerships to enhance its offerings and expand its reach in the marketplace.

Bind Benefits, Inc.

Series A in 2018
Bind Benefits, Inc. is a health insurance company based in Minneapolis, Minnesota, founded in 2016. It offers tailored health insurance services to individuals, families, employers, and healthcare providers. Unlike traditional health insurance models, which often charge for unnecessary services, Bind allows customers to pay only for the coverage they need and offers the flexibility to adjust this coverage as their needs change. The company distributes its services through brokers, consultants, and online platforms, ensuring accessibility and adaptability for its clients.

Bind Benefits, Inc.

Venture Round in 2017
Bind Benefits, Inc. is a health insurance company based in Minneapolis, Minnesota, founded in 2016. It offers tailored health insurance services to individuals, families, employers, and healthcare providers. Unlike traditional health insurance models, which often charge for unnecessary services, Bind allows customers to pay only for the coverage they need and offers the flexibility to adjust this coverage as their needs change. The company distributes its services through brokers, consultants, and online platforms, ensuring accessibility and adaptability for its clients.

Recondo

Debt Financing in 2016
Recondo Technology, Inc. specializes in cloud-based software and services aimed at optimizing workflow in the healthcare sector. The company offers various solutions, including EmpoweredPatientAccess for registration quality and eligibility verification, EmpoweredBusinessOffice for claims management and revenue forecasting, and MySurePayHealth for accurate out-of-pocket expense estimates. Additionally, Recondo provides EmpoweredTechnology solutions to enhance payor connectivity and streamline data resolution. These offerings facilitate efficient interactions among healthcare providers, payers, and patients, ensuring timely payments throughout the healthcare continuum. Serving a diverse clientele that includes specialty providers, imaging centers, and hospitals, Recondo addresses significant challenges within the healthcare revenue cycle, helping to reduce costs and improve financial outcomes. Founded in 2006 and headquartered in Denver, Colorado, the company operates as a subsidiary of Waystar, Inc. since December 2019.

RetraceHealth

Series A in 2016
RetraceHealth, Inc. is a healthcare provider that offers both urgent and routine medical services through an online platform, facilitating video consultations and in-person home visits. The company focuses on delivering high-quality primary care, including preventive, pediatric, and illness-related treatments, as well as management for chronic conditions such as high blood pressure and diabetes. RetraceHealth operates in Minnesota and Wisconsin, providing video visits statewide and home visits primarily in the Twin Cities metro area. Founded in 2013 and based in Minneapolis, the company aims to make personal healthcare accessible and affordable, delivering medical services comparable to those found in clinics but directly to patients' homes.

Digital Reasoning

Series D in 2016
Digital Reasoning Systems, Inc. specializes in developing data analytic solutions that process and organize unstructured data into meaningful insights. The company's flagship product, Synthesys, is an entity-oriented analytics software that automates the categorization, linking, retrieval, and profiling of unstructured data. It incorporates advanced features such as natural language processing, entity resolution, geo reasoning, temporal reasoning, and link analysis, while also providing visualization tools to illustrate connections within data sets. Digital Reasoning serves a diverse range of sectors, including government, legal, medical, and financial markets, and offers solutions tailored for intelligence analysts and cloud security. Founded in 2000 and headquartered in Franklin, Tennessee, the company maintains additional offices in New York City, Washington, D.C., and London, U.K. Digital Reasoning has established strategic partnerships to enhance its offerings and expand its reach in the marketplace.

PokitDok

Series B in 2015
PokitDok, Inc. is a cloud-based platform that facilitates healthcare transactions through its application programming interface (API). Founded in 2011 and headquartered in San Mateo, California, with an additional office in Charleston, South Carolina, PokitDok offers services such as eligibility checks, claims submissions, appointment scheduling, payment processing, and medical procedural code reconciliation. The platform is designed for health systems, technology providers, and developers, enabling them to improve workflows, reduce costs, and leverage big data to identify business patterns. Additionally, PokitDok provides an e-commerce storefront that allows healthcare practitioners to market their services and enables consumers to pay for treatments upfront through their website or mobile app.

Sandlot Solutions

Venture Round in 2014
Sandlot Solutions is a healthcare information technology company jointly owned by Santa Rosa Holdings and North Texas Specialty Physicians (NTSP) that provides a next-generation health information exchange (HIE) and data analytics tools and services for streamlining data sharing between providers, hospital systems, and health plans in order to improve patient outcomes and reduce the cost of care. Sandlot Solutions’ customizable products and services allow healthcare providers easy access to patient information from a variety of sources and formats community-wide to more effectively enhance care coordination, disease management, and quality measurement while preparing for Accountable Care and other payment models.

PlanSource

Series B in 2014
PlanSource Benefits Administration, Inc. is a cloud-based provider of benefits administration and human capital management solutions, primarily aimed at small and medium-sized businesses. Founded in 2002 and headquartered in Orlando, Florida, the company offers a comprehensive benefits administration platform that automates various transactions and connects employers with insurance carriers. Its services include customizable storefronts for insurance products, shopping and enrollment solutions, billing, and compliance with the Affordable Care Act. PlanSource also provides tools like Elasti-Girl software for tailored benefits planning, as well as integrated human resources management systems that encompass payroll and workforce management. The company's offerings facilitate the buying, selling, and administration of employee benefits, fostering collaboration among brokers, insurance providers, employers, and employees through a unified data platform and self-service website. PlanSource operates additional locations in South Carolina, Michigan, Minnesota, and Utah.

Shareable Ink

Series C in 2013
Shareable Ink Corporation, founded in 2009 and based in Nashville, Tennessee, specializes in clinical documentation solutions for healthcare organizations, including hospitals, surgery centers, and nursing homes. The company offers a configurable and scalable iOS platform that transforms point-of-care clinical documentation into structured data and analytics. Its primary products include Shareable Documents, which automates clinical data collection using Apple’s iPad, and Shareable Integration, which merges the native iOS solution with clients' platforms to enhance clinical documentation functionalities. The technology effectively converts handwritten information from paper forms into digital data suitable for electronic health records and other information systems. Shareable Ink operates as a subsidiary of Strategic Management Consulting, LLC.

OneHealth Solutions

Series B in 2013
OneHealth’s award-winning, cloud-based service delivers dynamic content, tools and real-time structured peer support to engage members to achieve sustainable behavior change. The patent-pending Social Solutioning® platform integrates physical and mental health management into a mobile and web experience for health plan members, employees and patients.

Shareable Ink

Series B in 2012
Shareable Ink Corporation, founded in 2009 and based in Nashville, Tennessee, specializes in clinical documentation solutions for healthcare organizations, including hospitals, surgery centers, and nursing homes. The company offers a configurable and scalable iOS platform that transforms point-of-care clinical documentation into structured data and analytics. Its primary products include Shareable Documents, which automates clinical data collection using Apple’s iPad, and Shareable Integration, which merges the native iOS solution with clients' platforms to enhance clinical documentation functionalities. The technology effectively converts handwritten information from paper forms into digital data suitable for electronic health records and other information systems. Shareable Ink operates as a subsidiary of Strategic Management Consulting, LLC.

PlanSource

Venture Round in 2012
PlanSource Benefits Administration, Inc. is a cloud-based provider of benefits administration and human capital management solutions, primarily aimed at small and medium-sized businesses. Founded in 2002 and headquartered in Orlando, Florida, the company offers a comprehensive benefits administration platform that automates various transactions and connects employers with insurance carriers. Its services include customizable storefronts for insurance products, shopping and enrollment solutions, billing, and compliance with the Affordable Care Act. PlanSource also provides tools like Elasti-Girl software for tailored benefits planning, as well as integrated human resources management systems that encompass payroll and workforce management. The company's offerings facilitate the buying, selling, and administration of employee benefits, fostering collaboration among brokers, insurance providers, employers, and employees through a unified data platform and self-service website. PlanSource operates additional locations in South Carolina, Michigan, Minnesota, and Utah.

ABILITY Network

Series C in 2011
ABILITY Network Inc. is a healthcare information technology company that focuses on simplifying the administrative and clinical complexities faced by healthcare providers and payers. Founded in 2000 and based in Minneapolis, Minnesota, the company offers a range of services, including billing, Medicare claims management, revenue cycle management, and patient payment solutions. It also provides eligibility verification services and workforce management tools such as scheduling and credentialing. By connecting thousands of healthcare facilities and providers, ABILITY Network has established a large, web-based secure healthcare network that facilitates millions of transactions daily, earning the trust of major hospitals and healthcare organizations across the United States. The company, formerly known as VisionShare, changed its name in 2011 and operates as a subsidiary of Inovalon Holdings, Inc.

Liazon

Venture Round in 2010
Liazon is an online benefits marketplace that offers a private benefits exchange for businesses of all sizes. Founded in 2007 and based in Buffalo, New York, Liazon's primary product, the Bright Choices Exchange, enables employers to manage healthcare costs through a defined contribution funding strategy. This approach allows employers to set predictable budgets while offering employees a diverse selection of benefits, including health, dental, vision, life, and disability coverage. Liazon also provides comprehensive benefits administration services, managing aspects such as eligibility, enrollment, and carrier connectivity, which empowers employees to choose the benefits that best meet their needs and protect them from financial risk.

OneHealth Solutions

Series A in 2010
OneHealth’s award-winning, cloud-based service delivers dynamic content, tools and real-time structured peer support to engage members to achieve sustainable behavior change. The patent-pending Social Solutioning® platform integrates physical and mental health management into a mobile and web experience for health plan members, employees and patients.

DNA Direct

Series B in 2008
DNA Direct was founded in 2005 to address the growing need for genetic expertise and guidance across the healthcare continuum. It was born out of a deep passion and belief that healthcare providers and patients deserve the most current information available to make more informed decisions to improve outcomes.

DRX

Series A in 2008
DestinationRx, known as DRX, specializes in providing web-based healthcare comparison tools and data in the United States. The company offers a range of services, including databases and support for applications used by federal, state, and local governments, as well as benefit analysis and decision support technologies. DRX's products include PlanCompare, which assists with Medicare plan comparisons and enrollment; Drug Compare, a platform that helps users find lower-cost drug alternatives; and iPad Mobile Field Enrollment, a solution designed for in-field Medicare sales agents. The company caters to a diverse clientele, including health plans, pharmacy benefit managers, brokers, and pharmacies. Founded in 2000 and headquartered in Los Angeles, DRX operates as a subsidiary of Connecture, Inc.

ABILITY Network

Venture Round in 2007
ABILITY Network Inc. is a healthcare information technology company that focuses on simplifying the administrative and clinical complexities faced by healthcare providers and payers. Founded in 2000 and based in Minneapolis, Minnesota, the company offers a range of services, including billing, Medicare claims management, revenue cycle management, and patient payment solutions. It also provides eligibility verification services and workforce management tools such as scheduling and credentialing. By connecting thousands of healthcare facilities and providers, ABILITY Network has established a large, web-based secure healthcare network that facilitates millions of transactions daily, earning the trust of major hospitals and healthcare organizations across the United States. The company, formerly known as VisionShare, changed its name in 2011 and operates as a subsidiary of Inovalon Holdings, Inc.
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