Healthee heads latest crop of digital health financings

Our latest round-up of funding rounds in the digital health category features updates from Healthee, Aktiia, Moxe Health, Eleanor Health, Tava Health, BrainCheck, and Redi Health.

Healthee has raised $32 million in a Series A that will be used to scale up its operations, which are focused on a platform that provides a digital conduit between employees and their health plans. It answers questions about coverage, treatment, and benefits, provides advice on preventative care, and helps employers with the enrolment process.

The round was co-led by Fin Capital, Glilot Capital Partners, and Group11, with strategic partner TriNet also taking part. It will also be used for product development, according to the Israeli company, which was formed in 2018.

Switzerland’s Aktiia has raised CHF 27 million ($30 million) from investors including Redalpine and Khosla Ventures for the rollout and development of its wearable wristband device, which uses photoplethysmography technology to provide continuous blood pressure monitoring over a 24-hour period by detecting blood volume changes in small blood vessels.

The device is already approved in 44 countries and available in Switzerland, Germany, France, Austria, Italy, the UK, and the Republic of Ireland, and have been used in more than 60,000 patients. Aktiia will use the new funding in part to fund an expansion into the US market.

Healthcare data exchange specialist Moxe Health has raised $25 million from investor Trinity Capital to support the development of its technology platform, used for the secure exchange of clinical and other sensitive data between healthcare payers and providers.

It is designed to provide a solution to the current problem of health data being in different formats and silos, with the aim of reducing administrative waste, relieving pressure on healthcare staff, eliminating duplicative efforts, and ultimately lowering costs. The latest cash infusion follows a $30 million second round in 2022 and a $5.5 million Series A for the Madison, Wisconsin-based company.

Eleanor Health, a company providing digital and face-to-face support for people struggling with substance use disorders (SUDs) and their families, has raised $22 million in an equity raise, according to a filing with the Securities and Exchange Commission (SEC).

The Massachusetts-based start-up – which recently saw founding CEO Corbin Petro step down and be replaced by William McKinney – offers personalised addiction treatment either virtually or in person through a series of clinics in six US states. The latest round comes after it raised $50 million in Series C funding in 2022 and takes the total raised to date above the $100 million mark.

New York-based Tava Health has closed a $20 million Series B led by Catalyst Investors and featuring existing investors Peterson Partners, Toba Capital, and SpringTide, along with new backer Blue Heron Capital.

The company provides a telemedicine platform focused on mental health, connecting patients to therapists and supporting healthcare providers with practice management software, electronic medical records, and interactions with employers and health insurance companies. It said the new money would be used for product development, expansion of its provider network, and fostering new agreements with payers.

BrainCheck has raised $15 million that will be used to fuel the expansion and take-up of a recently launched update to its BrainCheck Screen digital cognitive assessment and care planning software for people with dementia. The app allows testing to be carried out on any internet-connect device and delivers an initial assessment in three minutes.

The financing round was led by Next Coast Ventures, S3 Ventures, and UPMC Enterprises, according to the Austin, Texas-based company, which said it would help accelerate the rollout of the new version.

Finally, analytics company Redi Health has closed a $14 million second round led by Blue Heron Capital that will be used to develop and expand its digital patient support programme (PSP) for people suffering from chronic health conditions.

The Columbus, Ohio start-up provides a number of services to its customers, including an app that tracks medications, symptoms, diet, and weight, and allows them to communicate and share progress with healthcare providers and link to other pertinent organisations, like drugmakers, pharmacies, and payers. It was founded in 2022, raising just under $4 million in a first round in 2022.