Lemhi Ventures

Lemhi Ventures, Inc. is a venture capital firm based in Wayzata, Minnesota, established in 2006. The firm focuses on early and seed-stage investments in the healthcare services sector, seeking out companies with innovative business models that promise disruptive change. Lemhi Ventures typically invests in privately held companies within the United States and prefers to take on a leading role in its investments, often seeking board seats or partnership opportunities. The firm's experienced team, comprised of innovators and entrepreneurs, draws on their extensive backgrounds in business growth and successful exit strategies to identify promising investment opportunities. Lemhi Ventures does not engage in investments related to medical devices or specific therapeutic developments.

Tony Miller

Managing Partner

Randy Schmidt

Venture Partner

Tom Stroh

CFO

Past deals in Minnesota

Bind Benefits, Inc.

Series B in 2020
Bind Benefits, Inc. provides health insurance services. The company offers health insurance services to individuals and families, employers, and health care providers. The company provides its services through a channel of brokers and consultants, as well as online. Bind Benefits, Inc. was formerly known as Disruptive Insurance Products Corporation. The company was founded in 2016 and is based in Minneapolis, Minnesota.

Bind Benefits, Inc.

Series A in 2018
Bind Benefits, Inc. provides health insurance services. The company offers health insurance services to individuals and families, employers, and health care providers. The company provides its services through a channel of brokers and consultants, as well as online. Bind Benefits, Inc. was formerly known as Disruptive Insurance Products Corporation. The company was founded in 2016 and is based in Minneapolis, Minnesota.

Bind Benefits, Inc.

Series A in 2018
Bind Benefits, Inc. provides health insurance services. The company offers health insurance services to individuals and families, employers, and health care providers. The company provides its services through a channel of brokers and consultants, as well as online. Bind Benefits, Inc. was formerly known as Disruptive Insurance Products Corporation. The company was founded in 2016 and is based in Minneapolis, Minnesota.

Bind Benefits, Inc.

Venture Round in 2017
Bind Benefits, Inc. provides health insurance services. The company offers health insurance services to individuals and families, employers, and health care providers. The company provides its services through a channel of brokers and consultants, as well as online. Bind Benefits, Inc. was formerly known as Disruptive Insurance Products Corporation. The company was founded in 2016 and is based in Minneapolis, Minnesota.

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.

PlanSource

Series B in 2014
PlanSource Benefits Administration, Inc. provides cloud-based benefits administration and human capital management solutions. It offers a benefits administration platform that is customized by employers to support comprehensive benefits programs, including defined contribution and defined benefit models; solutions that bridge the gap between insurers and consumers with customizable storefronts that stock selected products from various insurance carriers; and human resources software solutions, including payroll, talent, and workforce management solutions. The company offers shopping, enrollment, billing, and ACA compliance solutions; Elasti-Girl software that allows users to build the combination of benefits and shape plans to the needs of their workforce; APIs; and a mobile application. It serves construction, education, finance, government, healthcare, hospitality, retail, services, technology, and wholesale markets in the United States. The company was founded in 2002 and is based in Orlando, Florida with locations in Charleston, South Carolina; Grand Rapids, Michigan; Minneapolis, Minnesota; and Salt Lake City, Utah. As of January 2, 2008, PlanSource Benefits Administration, Inc. operates as a subsidiary of CoAdvantage, Inc.

PlanSource

Venture Round in 2012
PlanSource Benefits Administration, Inc. provides cloud-based benefits administration and human capital management solutions. It offers a benefits administration platform that is customized by employers to support comprehensive benefits programs, including defined contribution and defined benefit models; solutions that bridge the gap between insurers and consumers with customizable storefronts that stock selected products from various insurance carriers; and human resources software solutions, including payroll, talent, and workforce management solutions. The company offers shopping, enrollment, billing, and ACA compliance solutions; Elasti-Girl software that allows users to build the combination of benefits and shape plans to the needs of their workforce; APIs; and a mobile application. It serves construction, education, finance, government, healthcare, hospitality, retail, services, technology, and wholesale markets in the United States. The company was founded in 2002 and is based in Orlando, Florida with locations in Charleston, South Carolina; Grand Rapids, Michigan; Minneapolis, Minnesota; and Salt Lake City, Utah. As of January 2, 2008, PlanSource Benefits Administration, Inc. operates as a subsidiary of CoAdvantage, Inc.

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.

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.