Lightspeed Venture Partners is a venture capital firm that engages in consumer, enterprise, technology, and cleantech markets. It focuses on seed, early-stage, later-stage, expansion-stage, start-ups, growth companies, and incubation, and specializes in debt financing for start-ups and growth companies. Lightspeed Venture Partners invests in various sectors that include enterprise, consumer, big data, bitcoin, enterprise technology, cleantech, mobile, internet, financial technology, cloud solutions, e-commerce, storage, media, networking, energy, and software, software-as-a-service, information technology, biotechnology, and social.

Lightspeed Venture Partners

LionBird is a Tel Aviv- and Chicago-based venture capital firm investing in early-stage software companies operating in the healthcare, commerce, and enterprise sectors. Founded in 2012, LionBird has developed an investment strategy around early-stage startups that leverages online technology to re-imagine traditional offline business processes and models.

LionBird

Corundum Open Innovations is a venture capital firm that invests in ICT and life sciences companies and funds. It provides access to the high-tech ecosystem and hands-on business development for investors and portfolio companies. The firm's portfolio companies enjoy market insights and go–to–market strategies and introductions to top talent and key business partners. The Herzelia, Tel Aviv-headquartered firm was launched in 2015.

Corundum Open Innovations

aMoon is a leading healthtech & life sciences venture fund founded by Marius Nacht and Dr. Yair Schindel. Their team is passionate about building successful businesses and helping biopharma, digital health and medical technology companies realize their potential. They partner with management teams who use technology and cutting-edge science to accelerate cures for the world’s most life-threatening conditions and those providing solutions for global healthcare’s biggest cost drivers.

aMoon Fund

Omron Ventures is a corporate venture capital firm that invests and drives the growth of invested start-ups.  It was Kazuma Tateishi, founder of OMRON, who established Kyoto Enterprise Development (KED, 1972-1979), known to be the oldest private venture capital firm in Japan.

Omron Ventures

Takoa Invest is a Finnish family-owned investment company that owns and develops companies and properties with growth potential in Finland and abroad. Takoa Invest is a Finnish family-owned investment company. It owns and develops companies and properties with growth potential in Finland and abroad.

Takoa Invest

New Rhein is a venture capital firm focused on healthcare therapeutics and medical devices. Its partners and associates are former industry executives with operational and transactional experience. New Rhein invests in businesses that utilize proven products in new applications (e.g., new indications, new dosage forms, 505(b2)). The company compiles syndicates of operationally focused investors who together bring a wealth of experience and a broad network of relationships to support its portfolio companies in the development, regulatory, reimbursement, marketing, and/or contract manufacturing. New Rhein provides an understanding of what would be attractive to strategic partners and works backward to help its portfolio companies build their value proposition. Prior New Rhein investments have included ophthalmic pharmaceuticals, molecular diagnostics, and respiratory drug/device inhalers.

New Rhein

Theranica

Theranica is a medical device company that has combined neuromodulation therapy with modern wireless technology to develop proprietary wearable solutions that address various medical conditions and disease states. The noninvasive and therapeutic 'smart' patches are controlled by a smartphone app to allow for personalized, portable, and affordable care. The patch consists of a proprietary 'smart' chip that delivers electrical pulses to neuro-modulate the sensory nerves under the skin. The first application of the technology is for treatment of migraine headaches.

Theranica is an Israel-based prescription digital therapeutic company that develops an app and wearable device for chronic pain management using electrical nerve stimulation. Its flagship product, Nerivio, is the first FDA-approved, app-based, prescribed wearable device for acute migraines, episodic and chronic migraines, and expanded treatment to adolescents. The company claims seven out of ten people who used the device were effectively relieved of migraine pain. In&nbsp;<a href="https://sp-edge.com/updates/36083">November 2024</a>, it received an expanded FDA approval for migraine treatment for patients aged eight and above. Previously, the device was only approved for patients 12 years and older.

Membership-based, non-insurance healthcare companies helping maintain a steady state of well being.

Preventive Healthcare

Theranica Advances Migraine Care in 2024 Supported by New Research, an Expanded Indication, a new Chief Medical Officer, and Broader Insurance Coverage

<div>
 
 Theranica is an Israel-based prescription digital therapeutic company that develops an app and wearable device for chronic pain management using electrical nerve stimulation. The company claims seven out of 10 people who used the device were effectively relieved of migraine pain. By January 2021, the wearable device Nerivio received FDA approval as a drug-free treatment for acute migraines, episodic and chronic migraines, and expanded treatment to adolescents.&nbsp;
 
 
 The non-invasive device is attached onto the upper arm. It stimulates the small nerves through remote electrical neuromodulation to release pain-inhibiting neurotransmitters to the brainstems. In addition, the Nerivio app acts as a disease management tool, including a daily headache diary, where users can input daily symptoms and share with healthcare providers.&nbsp;
 
 
 The company operates through a B2B2C business model, and as of August 2022, the company&rsquo;s product was available through licensed healthcare providers (ProCare Pharmacy), including telehealth platforms such as Cove and UpScript.
 
 
 Funding and financials
 
 
 The company raised USD 45 million in August 2022 in a Series C funding round led by New Rhein Healthcare Investors. The new funds were allocated toward expanding its presence in the US.&nbsp;
 
</div>

Theranica is an Israel-based prescription digital therapeutic company that develops an app and wearable device for chronic pain management using electrical nerve stimulation. Its flagship product, Nerivio, is the first FDA-approved, app-based, prescribed wearable device for acute migraines, episodic and chronic migraines, and expanded treatment to adolescents. The company claims seven out of ten people who used the device were effectively relieved of migraine pain. In&nbsp;<a href="https://sp-edge.com/updates/36083">November 2024</a>, it received an expanded FDA approval for migraine treatment for patients aged eight and above. Previously, the device was only approved for patients 12 years and older.Nerivio utilizes remote electrical neuromodulation (REN) technology to activate conditioned pain modulation (CPM), a natural pain-relieving process in the brain. Worn on the upper arm, Nerivio stimulates small nerves through REM to release pain-inhibiting neurotransmitters to the brainstems. In addition, the Nerivio app acts as a disease management tool, including a daily headache diary, where users can input daily symptoms and share with healthcare providers.&nbsp;Key customers and partnershipsThe company operates through a B2B2C business model, and the company’s product was available through licensed healthcare providers (ProCare Pharmacy), including telehealth platforms such as Cove and UpScript. As of February 2024, Nerivio has been used in over 650,000 migraine treatments in the US.In&nbsp;<a href="https://www.prnewswire.com/news-releases/theranica-enters-into-agreement-with-dr-reddys-for-commercializing-nerivio-in-india-301715697.html">January 2023</a>, the company entered into a licensing agreement with Dr. Reddy's Laboratories to commercialize Nerivio in India.&nbsp;

Cardiomo Care is developing noninvasive wearable devices to alert users and caretakers when there are abnormalities in the heartbeat. The company’s AI engine, trained on existing and growing data sets, can predict potential heart issues up to two hours before they occur, enabling early detection and intervention for arrhythmias and other cardiovascular diseases (CVDs).The company's product, CardiomoPatch, is a waterproof, wearable patch capable of long-term wear with a 10-day battery life. The patch monitors a patient's cardiac data, including ECG outputs, breathing, and skin temperature, and transmits the data via a mobile app for analysis by Cardiomo's AI engine.&nbsp;As of May 2024, the company is yet to commercialize its product and has over 1,600 pre-orders.

Cardiomo Care

Omada is a prevention-focused digital therapeutics startup that helps members achieve health goals through lifestyle changes. It offers four evidence-based, virtual prevention programs for managing hypertension, musculoskeletal (MSK) issues, prediabetes, and diabetes.Omada offers real-time data tracking through connected devices (such as wireless scales, blood pressure, and glucose monitors) and access to personalized coaching sessions via a mobile app as part of its prevention program. It also provides an online community of peers with similar health conditions to discuss challenges and provide support. In May 2021, Omada became the first fully-virtual healthcare provider to earn the National Committee for Quality Assurance’s Population Health Program Accreditation for its type 2 diabetes and type 2 diabetes + hypertension programs.Unlike its peers, Omada operates a performance-based business model where it charges clients an enrollment fee based on the number of users and a performance fee based on how much weight their employees lose. In May 2020, the company acquired virtual physical therapy startup Physera.Key customers and partnershipsAs of May 2024, Omada had more than 1 million members from more than 1,900 enterprise clients across all 50 US states. Its B2B employer and health plan client base include key clients such as American Eagle, Kaiser Permanente, Costco Wholesale, 3M, and Marvin. Additionally, the company has partnered with health systems and hospitals such as Intermountain Healthcare to provide its preventive programs as a covered benefit.In <a href="https://sp-edge.com/updates/15587">January 2023</a>, the company partnered with health service company Castell (a subsidiary of Intermountain Healthcare) to provide its diabetes programs to members from Intermountain Healthcare’s primary care providers in its Utah Medical Group. Further in <a href="https://sp-edge.com/updates/25245">January 2024</a>, the company partnered with Amazon to expand access to its cardiometabolic program.

Omada Health

VillageMD provides primary care services for patients. It also provides tools, technology, and staffing support needed for physicians to deliver high-quality services. VillageMD’s service delivery methods include traditional freestanding clinics, Village Medical at Walgreens co-located clinics, as well as at-home and around-the-clock virtual visits. It also leverages a team-based approach to care where physicians lead nurse practitioners, pharmacists, mental health specialists, and dietitians to offer a holistic care program. The technology of VillageMD includes docOS, an operating system that enables better patient care by connecting various clinical source systems with ongoing patient-generated data coupled with an AI engine to continuously analyze messages to enable patient self-care.The company made several acquisitions to expand its footprint: 1) <a href="https://sp-edge.com/updates/14347">Summit Health</a> for USD 8.9 billion in November 2022, 2) Healthy Interactions, an interactive patient education platform, in February 2022, and 3) <a href="https://sp-edge.com/updates/16968">Starling Physicians</a>, a primary care and specialty care provider, in March 2023.Key customers and partnershipsIn June 2020, VillageMD and Walgreens Boots Alliance announced a collaborative effort to open at least 600 Village Medical centers at Walgreens across more than 30 US markets by 2025. Walgreens invested USD 5.2 billion in VillageMD (from the previously announced USD 1.0 billion), raising its ownership stake to 63% (from 30%).However, as of May 2024, Walgreens had plans to close 160 VillageMD clinics as part of a cost-cutting plan.

VillageMD

Cityblock Health is a value-based healthcare provider focused on delivering comprehensive care to underserved communities, primarily Medicaid and lower-income Medicare beneficiaries. The company combines primary care, behavioral health, and social services to address the complex physical, mental, and social needs of its members.Cityblock's model involves partnering with local community-based organizations and deploying multidisciplinary care teams that include doctors, nurses, behavioral health specialists, and community health workers. These teams provide personalized care through 24/7 access to multi-modal care delivery, including in-home visits, telehealth, and community health hubs.The services of Cityblock are available to members at no additional cost if they are covered by an eligible health plan.Key Customers and PartnershipsAs of May 2024, the company’s services were available in seven states across the US and served over 100,000 members.In May 2024, it partnered with <a href="https://sp-edge.com/updates/29647">Sunshine Health</a> to expand to Florida, and, in <a href="https://sp-edge.com/updates/13270">September 2022</a>, it partnered with MDwise to expand into Indiana. Prior to that, the company had partnered with insurance providers such as ConnectiCare (Connecticut), Tufts Health Plan (Massachusetts), Emblem Health (New York), Healthy Blue (North Carolina), Molina Healthcare (Ohio) and CareFirst (Washington DC).Funding and FinancialsCityblock is a spin-off of Sidewalk Labs, an Alphabet company that incubates and invests in tech companies and products to improve urban infrastructure. It completed a USD 400 million Series D funding round led by Softbank in <a href="https://sp-edge.com/updates/5326">September 2021</a>, valuing the company at USD 5.7 billion. The funds were used to expand its services.

Cityblock Health

Everside Health (formerly Paladina Health) offers preventative care for chronic conditions and primary, mental and occupational healthcare treatments for acute conditions. Patients benefit from around-the-clock access to care, same-day or next-day appointments for in-person, and virtual care visits with zero copays.Everside aims to generate around 17% healthcare cost savings in three years and 31% in five years for its corporate members by leveraging a data-driven approach to care coordination.The company leverages data from past medical records, predictive analytics, and AI in the delivery of preventative care services.Founded in 2010 under the name Paladina Health, the company was rebranded in November 2020 as Everside Health following a merger between three primary care groups (Paladina, Activate Healthcare, and Healthstat). Furthermore, in February 2024, Everside Health merged with primary care provider Marathon Health to form a combined entity that would operate as Marathon Health, and, as of May 2024, the integration was ongoing.Key customers and partnershipPost-merger with Marathon Health, the combined entity would serve 2.5 million patients through over 680 clinics across 41 states.Funding and financialsThe company received its most recent investment in July 2022, amounting to USD 164 million in growth equity funding. The round was led by New Enterprise Associates (NEA). The funds were allocated toward growing its market presence and exploring opportunities for M&amp;A as well as to enhance and improve its product features. Additionally, the firm planned to expand its coverage of specialty care services aimed at individuals, employers, and union organizations.

Everside Health

Platforms offer a subscription-based or B2B-sponsored, evidence-based program for managing a specific long-term health condition.

DPCs offer value-based primary and preventive care services addressing whole-person (social, mental, physical) needs for a fixed monthly or annual fee paid by either the patient, insurance provider, or employer.

Companies offer B2B and D2C evidence-based treatments delivered via software programs to prevent and manage a variety of chronic conditions.

Tools that collect and analyze real-time patient data that supports healthcare providers with clinical decisions,  improves patient outcomes, and reduces medical errors.

Companies offer independent physician practices and hospitals with the tools (patient engagement, care coordination, administrative services) to help manage and improve clinical health outcomes of a defined group of individuals or large populations.

Platforms are used to track and gather patient health-related information via either a connected device or at-home test kits to detect the early onset of disease and identify any abnormalities in readings—but do not include a treatment plan.

To gather large amounts of real-time data for chronic care management, DTx, and patient monitoring

XR used by some startups for chronic pain management

Offers digital means of providing direct primary care, passive remote monitoring, chronic care management, etc.

AI/ML is used in predictive analytics, diagnostics tools, and population management

Offers tailored preventive interventions and treatments to the specific needs and characteristics of each individual

ANALYST_QUICK_TAKE

<div>
 
 The FDA has broadened the approved age range for Theranica's Nerivio remote electrical neuromodulation device, now including patients aged eight and above. Prior to this update, the device was only authorized for patients aged 12 and upwards. This device is distinguished as the first FDA-cleared non-pharmaceutical option for both the acute and preventive treatment of migraines specifically for children in this newly approved age bracket.
 Support for this extended approval was partially sourced from real-world data gathered from a study centred around children aged between six and eleven years. The research noted that 72.2% of studied patients experienced consistent alleviation of headaches, whilst 83.3% of patients indicated repeated relief from functional disability roughly two hours after undergoing treatment. No negative side-effects were reported in correlation to the use of the device in this study.
 
</div> Analyst QuickTake: 
 Nerivio received FDA approval for treating acute migraines in May 2019, and, in <a href="https: 
//sp-edge.com/updates/2117"> January 2021 </a> , the firm obtained FDA clearance to market its product as a treatment for episodic or chronic migraines while expanding treatment to adolescents. Its closest competitor, gammaCore from <a href="https: 
//sp-edge.com/companies/126846"> electroCore </a> , is the only other device approved for adolescents.

Theranica

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