UpStream Healthcare, which presents know-how and assist companies for value-based main care practices, raised $140 million in Sequence B funding. The spherical was co-led by Coatue and Dragoneer, with participation from traders together with Avidity Companions, Outline Ventures and Mubadala.
The Sequence B brings the startup’s whole funding pot to just about $185 million. UpStream had beforehand introduced a $45 million Sequence A spherical in November 2021.
WHAT IT DOES
UpStream presents a tech platform and medical assist to practices that work with sufferers on Medicare and Medicare Benefit plans.
The startup gives embedded medical assist groups that may help main care practices, like pharmacists or care coordination nurses. There are additionally off-site groups that may help practices or sufferers throughout off hours.
UpStream’s instruments embody a tech platform that makes use of EHR knowledge, claims from payers and data sufferers mentioned with their care groups to determine sufferers who want assist and enhance medical workflows. The startup additionally touts a mannequin that gives funds for high quality throughout the efficiency yr, versus cost acquired as soon as the yr has ended.
“Major care physicians are an integral a part of the U.S. healthcare system, and all share a mission to see their senior sufferers reside wholesome, unbiased lives free from the burden of persistent illness. Nonetheless, they typically lack the assets and know-how to realize their objectives whereas additionally struggling to thrive financially within the value-based care period. That is what UpStream brings to the desk and is why we’re seeing unprecedented adoption amongst main doctor teams,” Dr. Sanjay Doddamani, cofounder and CEO of UpStream, stated in a press release. “We’re honored to have attracted such a various and stellar mixture of prime traders – every of whom deliver distinctive high quality and expertise that’ll be invaluable for us to proceed rising.”
MARKET SNAPSHOT
Although digital well being funding has slowed considerably this yr in contrast with 2021, a number of different startups pitching observe assist and software program have raised giant rounds this yr.
Alma, which focuses on psychological well being professionals, introduced it had raised $130 million in Sequence D funding in August. Tebra, a startup that gives affected person engagement and observe progress instruments, scooped up $72 million over the summer time. Psychological well being observe administration firm Develop Remedy introduced a $75 million Sequence B in September.
In June, Aledade, which gives knowledge analytics and assist to assist main care suppliers construct accountable care organizations, raised $123 million in a Sequence E funding spherical. In line with Insider, the funding boosted the corporate’s valuation to $3.1 billion.
