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The newly combined company also landed a $17 million Series A led by 7wireVentures. The venture firm is an existing investor in SameSky Health. Health insurance giant Elevance Health, formerly known as Anthem, an existing investor in GroundGame Health, also participated in the round. By addressing these barriers together, GroundGame CEO Susan Rawlings Molina said, GroundGame and SameSky can help more patients access healthcare while saving money for payers. While SameSky's technology can help underserved patients seek out care, GroundGame can close the loop by removing barriers to their access to that care, she said.
Persons: , 7wireVentures, Susan Rawlings Molina, Molina, we're, SameSky, GroundGame, they're, Lee Shapiro, Alyssa Jaffee, Robert Garber, Glen Tullman, haven't, Abner Mason, Garber Organizations: Service, SameSky, Business, Health, 7wireVentures Industry Locations: Health, healthtech, SameSky
7wireVentures, a prominent venture-capital firm, just raised $217 million to fund the next generation of healthcare startups, bringing the firm's total assets under management to more than $500 million. The fund, which closed last Friday, is the biggest that 7wire has ever raised and represents a strategy shift for the firm. The startups Folx Health and Parsley Health, new investments for 7wire, have also won contributions from the new fund. Livongo7wire keeps funds and the portfolio size, just north of 20 startups, both relatively small, all managed by only four partners: Tullman, Jaffee, Shapiro, and Garber. The small size of the operation is intentional in keeping with 7wire's "quality over quantity" approach to investing, Garber said.
Persons: 7wire, Glen Tullman, Lee Shapiro, Alyssa Jaffee, Alyssa Jaffee Alyssa Jaffee, Jaffee, Tullman, Shapiro, Robert Garber, Livongo's, Livongo 7wire, Garber, Jaffe Organizations: Folx, Parsley Health Locations: Tullman
NOCD in January raised $34 million as digital-health funding tumbles. In a brutal time to raise money from investors, the mental-health startup NOCD, which provides care for people with obsessive-compulsive disorder, just raised $34 million. Cigna Ventures, the health-insurance giant's venture-capital arm, and 7wireVentures, a prominent healthtech venture-capital firm, co-led the round, bringing NOCD's total funding to $84 million. NOCD shared with Insider the presentation that helped it land $34 million from Cigna Ventures and 7wireVentures. Here's the deck NOCD used to raise $34 million from top investors.
Called Override, it connects patients with chronic pain to a virtual team of pain specialists. An estimated one in five American adults are living with chronic pain, according to the Centers for Disease Control and Prevention. Research has found links between chronic pain and opioid dependence, anxiety, depression, and lower quality of life. Override's model was informed by a health program for veteransA wealth of research supports a team-based approach to treating chronic pain. Patients with chronic pain are expensive, and those paying for that care need help managing their costs.
But in the tech world: There's one thing we can't seem to escape — layoffs. Elon Musk's Twitter is asking some laid-off workers if they want to come back. Meanwhile, some tech workers who have been laid off are taking to TikTok to post "get ready with me" videos wherein they film themselves — you guessed it — getting ready to be laid off. According to people familiar with the company, divisions including marketing, partnerships, HR, and engineering will be among the hardest hit. Elon Musk is looking to rehire Twitter workers.
And startup founders, too, are feeling the heat. Three VCs at 7wire, Interplay, and Menlo tell Insider their best advice for founders right now. Startup founders, too, are feeling the heat: fintech Stripe slashed 14% of its workforce while neobank Chime laid off 160 people. Buzzy NFT startup Dapper Labs let go of 22% of its employees, while resale marketplace StockX cut less than 80 jobs. Here's their advice for founders right now:
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