Providence Ventures

Providence Ventures, established in 2014 and based in Seattle, Washington, is a venture capital firm that focuses on early to mid-stage investments in the healthcare sector. The firm manages $300 million in venture capital funds on behalf of Providence St. Joseph Health, one of the largest integrated health systems in the United States. Providence Ventures aims to be among the first institutional investors in promising companies, typically deploying between $8 to $15 million over the life of an investment. The firm seeks to align its investments with the innovation priorities of its parent health system, focusing on solutions that improve health outcomes, reduce costs, and enhance patient and caregiver experiences. It specializes in health information technology, digital health, tech-enabled services, and medical devices and diagnostics. While Providence Ventures is open to collaborating with other venture funds as co-investors, such partnerships are not a requirement for its investment strategy. The firm leverages its health system expertise to support portfolio companies in refining their solutions and expanding their market presence.

Branden Fini

Partner

Daniel J. Galles

Partner

David J. Kereiakes

Partner

Jen Lee

Vice President

Richard Proscia

Principal

Joelle Sostheim

Associate

Jeff Stolte

Managing Partner

Jeffery Stolte

Managing Partner

Christina Warner

Vice President

28 past transactions

impact.com

Private Equity Round in 2022
Impact is the global leader in Partnership Automation and catalyst for the new Partnership Economy. Impact accelerates enterprise growth by scaling discovery, recruitment, onboarding, engagement and optimization of all types of partnerships. Impact’s Partnership CloudTM provides automation for the full partnership lifecycle; confident decision making and optimization through measurement and attribution; and protection from fraud. Impact drives revenue growth for global enterprises such as Cabela’s, Fanatics, Getty Images, Lenovo, Levi’s, Techstyle and Ticketmaster. Founded in Santa Barbara, CA in 2008, Impact has grown to over 400 employees and ten offices across the United States, Europe and Asia.

Wildflower Health

Venture Round in 2022
Wildflower Health, Inc. is a San Francisco-based company that provides smartphone-based health programs designed to help healthcare payers connect with families across the United States. Its flagship offering, Due Date Plus, is a maternity program that engages women in early pregnancy and facilitates connections with healthcare providers or care managers. Additionally, Wildflower Health offers GROW, a family health program that addresses the needs of mothers and pediatric health. The company delivers tailored health milestones for families based on age and gender, along with features such as client resource integrations, on-device messaging, appointment reminders, health risk assessments, and clinical program referrals. Founded in 2012, Wildflower Health aims to enhance user engagement and improve healthcare experiences through innovative technology and design.

DexCare

Series B in 2022
DexCare is a provider of Platform-as-a-Service offering to manage health system capacity and demand across all lines of care. The company enables health systems to evolve their traditional, one-to-one, patient-to-provider relationships and transform into a highly scalable digital experience for their patients— increasing revenue from new, digital-first patients while minimizing new patient acquisition costs. DexCare was founded in 2021 and is headquartered in Seattle, WA.

Xealth

Series B in 2021
Xealth Inc. operates a digital health prescribing platform designed to enhance the integration and management of digital health tools within healthcare systems. Founded in 2016 and based in Seattle, Washington, the platform allows clinicians to prescribe and monitor digital health solutions directly from electronic health records (EHR) workflows. This capability enables care teams to identify appropriate digital tools for patients, which can be sent to their smartphones or desktops for easy access. Additionally, Xealth supports patient education and offers services such as ride shares and food delivery. The platform facilitates monitoring of patient engagement, providing insights into the effectiveness of these digital interventions. Originally spun out of Providence St. Joseph Health in 2017, Xealth has attracted investments from various healthcare-focused entities, including McKesson Ventures and Novartis.

Kno2

Series A in 2021
Kno2 is a developer of a cloud-based health information platform that facilitates the electronic exchange of patient information. The platform is designed to organize, manage, share, and capture unstructured patient data from various sources, including paper documents, faxes, and digital images. By converting this information into the appropriate format, Kno2 ensures that healthcare providers can access it through patient portals. This capability enables providers to make timely and critical medical decisions, improving patient care and streamlining healthcare communication.

RxREVU, Inc.

Funding Round in 2021
RxREVU, Inc. is a healthcare technology company based in Denver, Colorado, founded in 2013. It specializes in providing a medication savings dataset designed to enhance prescription decision support for healthcare applications, including transparency portals, insurance providers, and consumer mobile applications. The company's technology, which is integrated into electronic health records (EHR), enables prescribers to access real-time, patient-specific information about medication costs and alternatives, including therapeutic substitutions and generic options. This functionality supports healthcare professionals in identifying the most cost-effective medications at the point of care. RxREVU also offers prescription health analytics to help healthcare organizations understand prescribing behaviors and align those practices with established best practices. By collaborating with health systems and pharmacy benefit managers (PBMs), RxREVU aims to improve medication management and savings for both consumers and businesses.

Protenus

Series D in 2021
Protenus, Inc. is a Baltimore-based company that specializes in a healthcare compliance analytics platform designed to protect patient privacy and secure health data. Utilizing artificial intelligence, the platform audits every access to patient records across leading health systems in the United States. It enables healthcare organizations to gain comprehensive insights into the usage of health data, proactively identifying risks such as inappropriate access to patient information and potential theft or misuse of controlled substances by staff. By alerting compliance teams to policy violations and other anomalous behaviors, Protenus empowers hospitals to make informed decisions to enhance data protection and safeguard their institutions. The company, which was established in 2014 and previously known as Protenus, LLC, focuses on reducing risk and optimizing operational efficiency for its partner hospitals.

TailorMed

Venture Round in 2021
TailorMed Medical Ltd. is a health technology company that specializes in financial navigation systems designed to assist patients and healthcare providers in managing medical expenses. Founded in 2017 and based in Tel Aviv, Israel, TailorMed offers a comprehensive platform that automates financial processes, identifies patients at financial risk, and connects them with tailored funding opportunities. Its key products include TailorMed Financial Navigation, which streamlines financial operations for healthcare centers; TailorMed Financial Insights, a reporting dashboard that tracks key performance indicators; and TailorMed Pharmacy, which simplifies the ordering and billing of medications based on individual treatment plans. By leveraging advanced algorithms and a robust data set, TailorMed aims to reduce patient financial toxicity and improve efficiencies throughout the treatment lifecycle.

DexCare

Series A in 2021
DexCare is a provider of Platform-as-a-Service offering to manage health system capacity and demand across all lines of care. The company enables health systems to evolve their traditional, one-to-one, patient-to-provider relationships and transform into a highly scalable digital experience for their patients— increasing revenue from new, digital-first patients while minimizing new patient acquisition costs. DexCare was founded in 2021 and is headquartered in Seattle, WA.

Livara

Series A in 2021
Developed by spine specialists, the SpineZone Method relieves long-term back and neck injuries without resorting to invasive procedures

Lyra Health

Series D in 2020
Lyra Health, Inc. is a Burlingame, California-based company that operates a digital platform connecting employers with mental health care providers. Founded in 2015, Lyra Health aims to improve access to effective mental health care for employees by utilizing innovative matching technology. The platform enables members to find personalized care by connecting them to a curated network of therapists and coaches, facilitating live video therapy and offering digital self-care tools. Lyra Health assesses treatment outcomes using clinical measures, such as the PHQ-9 and GAD-7, to monitor symptom improvement for conditions like anxiety and depression. This approach has resulted in significantly higher engagement and better outcomes compared to traditional mental health plans. Through its services, Lyra Health helps employees navigate the mental health system, schedule appointments, and maintain support throughout their treatment journey.

Lyra Health

Series C in 2020
Lyra Health, Inc. is a Burlingame, California-based company that operates a digital platform connecting employers with mental health care providers. Founded in 2015, Lyra Health aims to improve access to effective mental health care for employees by utilizing innovative matching technology. The platform enables members to find personalized care by connecting them to a curated network of therapists and coaches, facilitating live video therapy and offering digital self-care tools. Lyra Health assesses treatment outcomes using clinical measures, such as the PHQ-9 and GAD-7, to monitor symptom improvement for conditions like anxiety and depression. This approach has resulted in significantly higher engagement and better outcomes compared to traditional mental health plans. Through its services, Lyra Health helps employees navigate the mental health system, schedule appointments, and maintain support throughout their treatment journey.

Twistle

Venture Round in 2020
Twistle, Inc. is a healthcare technology company that provides a patient engagement platform designed to enhance communication between healthcare providers and patients. The platform automates proactive conversations and streamlines care pathways, enabling clinical teams to efficiently monitor patient progress and facilitate follow-up actions only when necessary. By integrating with electronic health records (EHRs) and utilizing predictive analytics, Twistle's platform allows for the creation and deployment of surveys that collect patient data, enabling timely responses to patient concerns. The company aims to improve patient outcomes, reduce morbidity and readmission rates, and lower healthcare costs through its innovative solutions. Founded in 2010 and headquartered in Albuquerque, New Mexico, Twistle serves as a vital tool for healthcare providers to support patients on their recovery journeys.

Kyruus

Series D in 2020
Kyruus, Inc. is a provider of web-based software solutions focused on optimizing physician networks for hospitals, health systems, and life science companies. Founded in 2010 and headquartered in Boston, Massachusetts, Kyruus offers a suite of analytically driven products designed to enhance the engagement, management, and performance of healthcare providers. Its solutions include Kyruus Passport, which allows physicians to track their activity and productivity, and Kyruus Profiles, which provides administrators with tools to monitor and analyze physician performance. Additionally, the company offers Kyruus MDSeekyr for identifying high-value providers and Kyruus Insight Reports for evaluating physician network trends and performance. The ProviderMatch suite further aids hospitals in connecting patients with the most suitable providers, ensuring a seamless patient experience while aligning provider availability with patient demand. Through its proprietary data management platform, Kyruus leverages accurate data to facilitate effective appointments and enhance overall patient care.

Protenus

Series C in 2019
Protenus, Inc. is a Baltimore-based company that specializes in a healthcare compliance analytics platform designed to protect patient privacy and secure health data. Utilizing artificial intelligence, the platform audits every access to patient records across leading health systems in the United States. It enables healthcare organizations to gain comprehensive insights into the usage of health data, proactively identifying risks such as inappropriate access to patient information and potential theft or misuse of controlled substances by staff. By alerting compliance teams to policy violations and other anomalous behaviors, Protenus empowers hospitals to make informed decisions to enhance data protection and safeguard their institutions. The company, which was established in 2014 and previously known as Protenus, LLC, focuses on reducing risk and optimizing operational efficiency for its partner hospitals.

Omada

Series D in 2019
Omada Health, Inc. is a digital healthcare company that creates online programs aimed at managing chronic conditions. Founded in 2011 and headquartered in San Francisco, with an additional office in Atlanta, Omada Health helps employers and health plans identify individuals at risk for preventable chronic diseases such as prediabetes, diabetes, hypertension, and heart disease. The company offers personalized programs that adapt to the needs of participants, including services for diabetes prevention and management, hypertension, behavioral health, and musculoskeletal issues. By integrating professional health coaching, connected devices, real-time data, and personalized feedback, Omada Health strives to empower individuals to engage with their health and achieve sustainable lifestyle changes. It is recognized as the largest provider of the National Diabetes Prevention Program by the CDC.

Xealth

Series A in 2019
Xealth Inc. operates a digital health prescribing platform designed to enhance the integration and management of digital health tools within healthcare systems. Founded in 2016 and based in Seattle, Washington, the platform allows clinicians to prescribe and monitor digital health solutions directly from electronic health records (EHR) workflows. This capability enables care teams to identify appropriate digital tools for patients, which can be sent to their smartphones or desktops for easy access. Additionally, Xealth supports patient education and offers services such as ride shares and food delivery. The platform facilitates monitoring of patient engagement, providing insights into the effectiveness of these digital interventions. Originally spun out of Providence St. Joseph Health in 2017, Xealth has attracted investments from various healthcare-focused entities, including McKesson Ventures and Novartis.

Bolder Surgical

Series C in 2019
Bolder Surgical exists to serve healthcare providers by developing precisely designed surgical instruments that allow access to confined and often delicate structures. By addressing this comparatively small market, we are able to meet the specific needs of surgeons and promote the advancement of surgical approaches that reach beyond what traditional instruments have allowed. We're doing it because it's the right thing to do. Founded in 2010, Bolder Surgical team of medical device professionals brings an extensive patent portfolio and a record of developing breakthrough technologies that have transformed surgical procedures.

Lyra Health

Series B in 2018
Lyra Health, Inc. is a Burlingame, California-based company that operates a digital platform connecting employers with mental health care providers. Founded in 2015, Lyra Health aims to improve access to effective mental health care for employees by utilizing innovative matching technology. The platform enables members to find personalized care by connecting them to a curated network of therapists and coaches, facilitating live video therapy and offering digital self-care tools. Lyra Health assesses treatment outcomes using clinical measures, such as the PHQ-9 and GAD-7, to monitor symptom improvement for conditions like anxiety and depression. This approach has resulted in significantly higher engagement and better outcomes compared to traditional mental health plans. Through its services, Lyra Health helps employees navigate the mental health system, schedule appointments, and maintain support throughout their treatment journey.

Kyruus

Corporate Round in 2018
Kyruus, Inc. is a provider of web-based software solutions focused on optimizing physician networks for hospitals, health systems, and life science companies. Founded in 2010 and headquartered in Boston, Massachusetts, Kyruus offers a suite of analytically driven products designed to enhance the engagement, management, and performance of healthcare providers. Its solutions include Kyruus Passport, which allows physicians to track their activity and productivity, and Kyruus Profiles, which provides administrators with tools to monitor and analyze physician performance. Additionally, the company offers Kyruus MDSeekyr for identifying high-value providers and Kyruus Insight Reports for evaluating physician network trends and performance. The ProviderMatch suite further aids hospitals in connecting patients with the most suitable providers, ensuring a seamless patient experience while aligning provider availability with patient demand. Through its proprietary data management platform, Kyruus leverages accurate data to facilitate effective appointments and enhance overall patient care.

Collective Medical

Series A in 2017
Collective Medical Technologies, Inc. is a health care technology company that specializes in a real-time collaboration software platform designed to enhance patient care. Founded in 2005 and based in Cottonwood Heights, Utah, the platform connects a patient's entire care team, including hospitals, primary and secondary clinics, health plans, and community organizations, facilitating the sharing of vital information. Collective Medical's system-agnostic platform is utilized by a nationwide network of health plans and providers to identify at-risk patients and encourage actionable collaboration among care teams. The platform aims to improve patient outcomes by reducing unnecessary emergency department visits and hospital readmissions, utilizing real-time data, risk analytics, and shared care guidelines to inform provider decision-making. As of December 30, 2020, Collective Medical operates as a subsidiary of PointClickCare Corp.
Intelligent Retinal Imaging Systems, Inc. specializes in developing cloud-based diagnostic imaging solutions for the examination and detection of diabetic retinopathy. The company offers a comprehensive retinal telemedicine platform that integrates patient identification, examination processes, and billing workflows to enhance efficiency and reimbursement. Its software features a bi-directional EHR interface that diagnoses serious retinal conditions, provides customized care plans, and supports risk adjustment factor (RAF) eligible diagnoses. The platform allows for real-time image reading and classification by human screeners, as well as remote consultations with specialists. Intelligent Retinal Imaging Systems serves a diverse clientele, including primary healthcare providers, physicians, insurers, employers, and care organizations across the United States. Founded in 2011 and headquartered in Pensacola, Florida, the company has established strategic partnerships with institutions like the Florida Institute for Human and Machine Cognition and the Lions Eye Institute to further its mission in preventative eye care.

Bona Film Group

Private Equity Round in 2016
Bona Film Group Limited is a prominent film distributor based in China, operating with an integrated model that includes film distribution, production, exhibition, and talent representation. The company distributes films across Greater China, Korea, Southeast Asia, the United States, and Europe, and is involved in investing in and producing a diverse array of movies. Additionally, Bona owns and operates twenty movie theaters and manages a roster of talented Chinese artists. With a focus on the entertainment sector, Bona Film Group is well-positioned within the film industry, engaging in various aspects of cinema management and projection.

N-of-One

Series B in 2016
N-of-One, Inc. is a molecular decision support company that specializes in the interpretation of molecular test results for cancer care. It provides clinicians with detailed insights into the biological relevance of diseases, clinical evidence, associated therapies, and references. The company interprets next-generation sequencing (NGS) data from solid and hematological tumors, as well as circulating tumor cells and DNA. N-of-One delivers a clinical interpretation report called PrecisionInsights, which covers 15-20 gene NGS panels, summarizing clinical and scientific evidence for each biomarker relevant to specific cancer subtypes and listing potential therapeutic options. Additionally, it offers TRIALMATCH, a solution for matching patients to suitable clinical trials based on their individual profiles. N-of-One serves various stakeholders, including commercial and hospital laboratories and precision medicine programs. Founded in 2007 and based in Lexington, Massachusetts, N-of-One operates as a subsidiary of QIAGEN N.V. since January 2019.

Gauss

Series B in 2016
Gauss Surgical, Inc. is a medical technology company that specializes in real-time blood monitoring solutions aimed at enhancing patient outcomes during surgical procedures. Founded in 2011 and headquartered in Los Altos, California, Gauss has developed a vision-based platform that accurately measures surgical blood loss using advanced algorithms and artificial intelligence. Its flagship product, Triton, includes various models tailored for different medical settings, such as Triton OR for operating rooms and Triton L&D for labor and delivery. These devices assist healthcare professionals in early recognition of hemorrhage, provide objective metrics for blood loss, and inform transfusion decisions, ultimately improving patient safety and care quality. Gauss Surgical primarily serves the healthcare sector in the United States.

Sqord

Seed Round in 2016
Sqord, Inc. is a company focused on promoting physical activity among children through a socially-connected online platform. Founded in 2011 and based in Durham, North Carolina, Sqord offers a gamification system that combines a low-cost wearable device with an online experience. The Sqord Booster device tracks users' physical activity using a wrist-worn accelerometer and awards points that can be redeemed for various online rewards, such as gift cards and virtual goods. This platform encourages children to engage in physical activities while connecting and competing with peers, including classmates, sports teams, and friends. Sqord primarily serves elementary school students and youth organizations across the United States, addressing the growing concern of declining physical health and promoting healthier lifestyles.

InDemand Interpreting

Venture Round in 2015
InDemand Interpreting is a medical interpretative service company,working to bridge the language gap for patients. Our company is built around nationally certified medical interpreters who support healthcare encounters via video remote, in person or over the phone. Started in 2007, our company pioneered the use of video remote technology for interpreting in healthcare.

Sqord

Venture Round in 2015
Sqord, Inc. is a company focused on promoting physical activity among children through a socially-connected online platform. Founded in 2011 and based in Durham, North Carolina, Sqord offers a gamification system that combines a low-cost wearable device with an online experience. The Sqord Booster device tracks users' physical activity using a wrist-worn accelerometer and awards points that can be redeemed for various online rewards, such as gift cards and virtual goods. This platform encourages children to engage in physical activities while connecting and competing with peers, including classmates, sports teams, and friends. Sqord primarily serves elementary school students and youth organizations across the United States, addressing the growing concern of declining physical health and promoting healthier lifestyles.
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