Providence Ventures
Providence Ventures targets early-to mid-stage investment opportunities, preferring to be one of the first institutional investors in a company. Over the life of an investment, they seek to deploy $8 to $15 million. Their best opportunities to add value are investments that align the interests of their portfolio companies and the innovation priorities of Providence Health & Services, through broad solution deployment and strategic insight. The innovation opportunities PHS targets as a large health system tend to reflect the priorities of the US health system overall. They welcome the opportunity to partner with established venture funds as co-investors, however, syndication is not a prerequisite for their participation.
Providence Ventures is founded in 2014 which manages $300 million in venture capital funds on behalf of Providence St. Joseph Health (PSJH), one of the largest integrated health systems in the US. The company's mission is to achieve venture and growth equity class returns through direct investments in innovative healthcare companies that improve health outcomes, lower costs, and enhance the experience of our patients and caregivers. It offers investment capital, combined with health system expertise, to companies addressing existing and emerging pain points in healthcare. Providence Ventures partners with our portfolio companies to refine existing solutions, while expanding their adoption within and beyond our health system.
Sector
28 past transactions
Xealth
Series B in 2021
Xealth Inc. develops and operates a digital health prescribing platform that enables clinicians to integrate, prescribe, and monitor digital health tools for patients from their EHR workflows. Its platform enables care teams and physicians to monitor patient engagement and analyze the effects of more engaged patients. The company’s platform is also used for patient education, online third-party apps and programs, and device monitoring; and non-clinical services, such as ride shares, food delivery, and e-commerce product recommendations. Xealth Inc. was founded in 2016 and is based in Seattle, Washington.
TailorMed
Venture Round in 2021
TailorMed is a health IT company that works with providers, pharmacies and manufacturers to reduce patient financial toxicity and create efficiencies across the patient treatment lifecycle. Our end-to-end platform applies algorithms and automations to make the co-pay assistance and free drug order processes seamless and leverages our deep data set to create actionable insights.
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.
Lyra Health
Series D in 2020
Lyra helps companies improve access to effective, high-quality mental health care for their employees.
Lyra's matching technology and innovative digital platform connect members to a curated network of top therapists and coaches, which results in 3x more people receiving care and 7x better outcomes than traditional plans and EAPs. Members can find the right personalized care, match with the right provider for their needs, and feel motivated and supported throughout the entire treatment journey.
Gauss Surgical, Inc.
Series B in 2016
Gauss Surgical is a med-tech company that develops a vision-based platform for accurate and real-time measurement of surgical blood loss. They develop beautiful applications for iOS backed by sophisticated algorithms and a robust, HIPAA-compliant technical stack to enable real-time monitoring during surgery.
The company was incorporated in 2011 and is headquartered in Menlo Park, California.
Impact
Private Equity Round in 2022
Impact is a marketing technology company helping brands grow by optimizing their paid marketing and media spend. The Impact platform was designed to respond to marketers’ demands for simplicity, transparency, performance, and confidence to drive growth through marketing. The platform is the first native integration of leading solutions to stop ad fraud, enable more confident decisions through media measurement, attribution, and mix optimization, and create new performance partnerships, including with influencers and strategic partners.
Founded in Santa Barbara, CA in 2008, Impact has seven offices across the United States, Europe, and Asia.
Sqord
Seed Round in 2016
Sqord, Inc. provides a socially-connected online play world for kids. It offers Sqord Booster that reports the duration of users’ physical activity; and allows users to score points for online fun. The company also allows users to connect and compete with their classes, teams, groups, friends, and family. It serves kids in elementary schools, classes, clubs, sports teams, and youth organizations in the United States. The company was founded in 2011 and is based in Durham, North Carolina.
N-of-One, Inc.
Series B in 2016
N-of-One Therapeutics provides cancer care services. Its team of clinicians and scientists works with a network of diagnostic laboratories, research institutions, and cancer experts to provide access to cancer research, medical science, and molecular diagnostic testing. The company conducts research to assess the standard of care and other diagnostic and treatment opportunities for various cancer types.
Sqord
Venture Round in 2015
Sqord, Inc. provides a socially-connected online play world for kids. It offers Sqord Booster that reports the duration of users’ physical activity; and allows users to score points for online fun. The company also allows users to connect and compete with their classes, teams, groups, friends, and family. It serves kids in elementary schools, classes, clubs, sports teams, and youth organizations in the United States. The company was founded in 2011 and is based in Durham, North Carolina.
Kyruus
Corporate Round in 2018
Kyruus delivers proven provider search and scheduling solutions that help hospitals and health systems match patients with the providers best suited to care for them. The ProviderMatch suite of solutions—for consumers, access centers, and referral networks—enables a consistent patient experience across multiple points of access, while aligning provider supply with patient demand. The company’s proprietary provider data management platform forms the foundation of its solutions, powering them with accurate data by coupling data processing with administrative applications.
Kyruus was founded in 2010 and is headquartered in Boston, Massachusetts.
Kno2
Series A in 2021
Kno2 develops a cloud-based health information platform designed to send and receive patient information electronically. Its cloud-based health information platform organizes, manages, shares, and captures unstructured patient information from the common sources such as paper-based documents, faxes, and digital images convert them in the right format, and make those available in patients portals of healthcare providers, enabling them to take critical medical decisions without delay.
Wildflower Health
Venture Round in 2022
Wildflower Health is building a mobile health engagement platform to improve healthcare quality and lower medical costs. Our team is passionate about harnessing user-centered design and technology to deliver products that drive smarter healthcare decisions. Over time, we aspire to leverage a unique set of analytics to deliver novel insights that improve treatment and cost-management in the clinical areas we support. We believe that innovative digital health solutions have the power to truly change healthcare.
Bona Film Group
Private Equity Round in 2016
Bona Film Group Limited is a leading film distributor in China, with an integrated business model encompassing film distribution, production, exhibition and talent representation. Bona distributes films to Greater China, Korea, Southeast Asia, the United States and Europe, invests in and produces movies in a variety of genres, owns and operates twenty movie theaters and manages a range of talented and popular Chinese artists.
Twistle, Inc.
Venture Round in 2020
Twistle is a health care platform that helps healthcare providers connect with patients, keeping them on track for faster recovery. Its "Care Plan Automation" platform helps clinical teams streamline care pathways by automating follow-up and surveillance. Its mobile health tool connects providers and patients through secure automated messaging, photo/lab sharing, surveys, smart device/EHR integration, and more.
The company was founded in 2011 and is headquartered in Seattle, Washington.
Omada Health
Series D in 2019
Protenus
Series C in 2019
The Protenus healthcare compliance analytics platform uses artificial intelligence to audit every access to patient records for the nation’s leading health systems. Providing healthcare leaders full insight into how health data is being used, and alerting compliance teams to policy violations, Protenus helps our partner hospitals make decisions about how to better protect their data, their patients, and their institutions. Learn more at Protenus.com and follow us on Twitter @Protenus.
JustRight 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.
Protenus
Series D in 2021
The Protenus healthcare compliance analytics platform uses artificial intelligence to audit every access to patient records for the nation’s leading health systems. Providing healthcare leaders full insight into how health data is being used, and alerting compliance teams to policy violations, Protenus helps our partner hospitals make decisions about how to better protect their data, their patients, and their institutions. Learn more at Protenus.com and follow us on Twitter @Protenus.
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.
RxREVU, Inc.
Funding Round in 2021
RxREVU, Inc. provides medication savings dataset for healthcare applications, including transparency portals, insurance companies, and consumer mobile applications. Its cost-reduction strategies include therapeutic alternatives, splitting combination drugs, dividing high doses, generic substitutions, splitting pills, over the counter, quantity discounts, and more. The company serves consumers and businesses. RxREVU, Inc. was founded in 2013 and is based in Denver, Colorado.
Collective Medical Technologies, Inc.
Series A in 2017
Collective Medical empowers care teams to improve patient outcomes by closing the communication gaps that undermine patient care. With a nationwide network engaged with every national health plan in the country, hundreds of hospitals and health systems and tens of thousands of providers, Collective’s system-agnostic platform is trusted by care teams to identify at-risk and complex patients and facilitate actionable collaboration to make better care decisions and improve outcomes. Based in Salt Lake City, Collective is proven to streamline transitions of care, improve coordination across diverse care teams, and reduce medically unnecessary hospital admissions.
Lyra Health
Series C in 2020
Lyra helps companies improve access to effective, high-quality mental health care for their employees.
Lyra's matching technology and innovative digital platform connect members to a curated network of top therapists and coaches, which results in 3x more people receiving care and 7x better outcomes than traditional plans and EAPs. Members can find the right personalized care, match with the right provider for their needs, and feel motivated and supported throughout the entire treatment journey.
Kyruus
Series D in 2020
Kyruus delivers proven provider search and scheduling solutions that help hospitals and health systems match patients with the providers best suited to care for them. The ProviderMatch suite of solutions—for consumers, access centers, and referral networks—enables a consistent patient experience across multiple points of access, while aligning provider supply with patient demand. The company’s proprietary provider data management platform forms the foundation of its solutions, powering them with accurate data by coupling data processing with administrative applications.
Kyruus was founded in 2010 and is headquartered in Boston, Massachusetts.
Intelligent Retinal Imaging Systems, Inc.
Series B in 2017
IRIS preventative screening for Diabetic Retinopathy is as simple and quick as taking a patient's blood pressure or stepping on a scale, and can be just as helpful to physicians in helping to detect eye disease or other disorders. The retina is a window into the body. Minute changes in the blood vessels of the retina can be early indicators of issues elsewhere.
Xealth
Series A in 2019
Xealth Inc. develops and operates a digital health prescribing platform that enables clinicians to integrate, prescribe, and monitor digital health tools for patients from their EHR workflows. Its platform enables care teams and physicians to monitor patient engagement and analyze the effects of more engaged patients. The company’s platform is also used for patient education, online third-party apps and programs, and device monitoring; and non-clinical services, such as ride shares, food delivery, and e-commerce product recommendations. Xealth Inc. was founded in 2016 and is based in Seattle, Washington.
Lyra Health
Series B in 2018
Lyra helps companies improve access to effective, high-quality mental health care for their employees.
Lyra's matching technology and innovative digital platform connect members to a curated network of top therapists and coaches, which results in 3x more people receiving care and 7x better outcomes than traditional plans and EAPs. Members can find the right personalized care, match with the right provider for their needs, and feel motivated and supported throughout the entire treatment journey.
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.
SpineZone
Series A in 2021
Developed by spine specialists, the SpineZone Method relieves long-term back and neck injuries without resorting to invasive procedures
