Connect with us

Private Equity

How Livongo Just Opened the Floodgate to a Digital Healthcare Wave

In the future, when we analyze moments in time when true innovation transformed an industry, we’ll remember an event that happened just a couple of weeks ago: Livongo’sIPO. By the end of its trading debut — which left the company valued at $3.4 billion — Livongo proved two things: that it’s possible to empower people to live healthier…

The post How Livongo Just Opened the Floodgate to a Digital Healthcare Wave appeared first on HPA.

Avatar

Published

on

In the future, when we analyze moments in time when true innovation transformed an industry, we’ll remember an event that happened just a couple of weeks ago: Livongo’sIPO. By the end of its trading debut — which left the company valued at $3.4 billion — Livongo proved two things: that it’s possible to empower people to live healthier by focusing on their whole being and that combining technology-driven solutions with a human touch is a successful business model in healthcare.

Using technology to help people effectively manage chronic health conditions like diabetes, Livongo demonstrated that their business model is effective for improving consumer health, is less costly for the payer, and thus is attractive for investors — especially because the model can expand into tangential markets and scale across the world. Unlike many traditional healthcare companies, Livongo helps people use less-intrusive technology and an easily accessible professional support network to change and maintain behavior that leads to healthier lives.

While this hasn’t been the business model of the past, it seems to be where healthcare is headed. Livongo is not the only company with a model like this. Another well-known startup that boasts a similar model is Noom — and more are entering the market. This is what is key. Livongo’s IPO is not merely an exciting success story; it is a catalyst for the forthcoming digital healthcare wave, a proof point that will leave consumers, healthcare professionals, insurance executives, CEOs, and investors confident that there are more innovative ways to address healthcare industry transformation.

And that industry transformation has guided a shift in how investors think about healthcare startups. Based on its market performance, investors valued Livongo more as a technology company than a healthcare company, the latter of which typically trades at lower multiples of revenue. Livongo fits into a broad digital-health sector that includes telemedicine, DNA testing, and consumer-wellness apps. And although Livongo is officially based in Mountain View, the company’s roots go back to Chicago, which is its second headquarters and home to Livongo’s founder and executive chairman, Glen Tullman.

This isn’t Tullman’s first healthcare company with a Chicago presence; he previously founded Allscripts here, which went public in 1999, and co-founded 7wire Ventures, a healthcare venture firm based in Chicago. Tullman has worked continuously to transform healthcare to a consumer-oriented business that provides people with the information, support, and control to own their health care. (You can read more about his insights on the topic in his book On Our Terms: Empowering the New Health Consumer.)

Tullman, Allscripts, and Livongo aren’t the only ones working to transform the healthcare industry here in the Midwest. Home to some of the best hospitals in the country, the Midwest is a prime location for continued healthcare innovation. With such a strong healthcare talent pool, we see a number of startups that are working to inspire greater wellness here and gaining strong traction.

Precision Medicine

In March of this year, Chicago-based precision medicine startup Tempus raised a $200 million Series F round to further its ability to help doctors prescribe patient- and disease-specific treatment. Now valued over $3 billion, the company started by sequencing cancer data and is expanding to other diseases as well.

Another precision medicine startup in the Midwest is Ann Arbor’s Strata Oncology, which raised a $26 million Series B funding round last year led by Pfizer and Merck. Strata empowers the creation, sharing, and use of clinical data across healthcare systems, thereby fueling further advancement in precision oncology treatment.

Convenient Access to Care

One of the major areas where we see a great deal of innovation is in moving the access point to healthcare closer to the patient. An early-stage startup that empowers patients to have more control over their healthcare is Detroit-based Alerje. Alerje helps patients with severe food allergies not only make healthier, data-driven choices about what they can eat, but the app allows them to easily seek healthcare fully inform providers of their medical conditions when they have an incident.

Regroup*, which is headquartered in Chicago, is democratizing access to mental healthcare through its telehealth platform that allows psychiatrists to provide patient care in rural areas where mental health resources are few.

While Regroup is focused on psychiatric care, Minneapolis-based Nice Healthcare’s platform is focused on general healthcare. Nice allows doctors to see patients online. When an in-person visit is necessary, Nice’s clinicians go to patients’ homes.

Similar to Nice, Chicago’s Kaizen Health* is working with healthcare providers to ensure that patients have the follow-up care they need for positive health outcomes. Kaizen partners with transportation services to ensure that everyone, regardless of access to transportation, is able to attend their healthcare appointments.

Mental Health

Another area where we see a notable increase in healthcare innovation is in how startups are seeking to provide better mental healthcare and disrupt addictive and compulsive behaviors.

Chicago-based Blueprint Health* — which helps clinicians conduct online mental health assessments between in-person visits and allows clinicians to deliver measurement-based care — raised $1.3 million earlier this year.

Ann Arbor-based Workit Health raised a Series A round earlier this year to expand its ability to provide expert addiction care online through a combination of doctors, therapists, and coaches.

Meanwhile, Chicago’s Triggr Health is also tackling addiction by using mobile phones to understand the habits of those in recovery and then intervening when the platform predicts relapse.

Chicago-based NOCD is doing similar work in to help those suffering from obsessive compulsive disorder (OCD). Its platform helps sufferers develop individualized plans, practice exercises to disruptive compulsive behaviors, and connect with therapists as well.

Similar to NOCD, Minneapolis-based HabitAware is working to empower people to disrupt compulsive behavior. Their hardware bracelet helps sufferers become more mindful of habits like nail biting, skin picking, and hair pulling — and then break those habits.

Healthcare Benefits

Disrupting a long-held healthcare industry are startups working to improve healthcare benefits. Minneapolis-based Bright Health is working to revolutionize the U.S. healthcare system by partnering with healthcare providers to improve the healthcare experience for patients and make it more affordable. The company plans to be in 12 states by next year.

Also in Minneapolis and looking to disrupt health insurance is Bind, which is focused on making insurance — and care — more transparent and accessible. The company’s goal is to empower people to make better choices about their care, through cost reduction and more informed healthcare decision-making.

Similar to Bind, Chicago-based benefits platform Health Joy’s cohesive platform provides benefits guidance to help employees make better decisions about their healthcare. The company raised a $12.5 million Series B round earlier this year.

Healthcare Operations

Finally, another area where we see healthcare innovation is in data-driven decision making. In April, Chicago-based ExplORer Surgical secured an addition $5 million in financing. The SaaS company helps hospitals monitor and understand what happens in the operating room.

Similarly, Chicago’s SwipeSense is being used to understand behavior in hospitals as it relates to patient care. The company’s hardware detects and tracks whether and when care providers wash their hands. This allows hospitals to increase their hygiene compliance requirements and reduce the spread of infection.

While some of these startups are farther along in their growth than others, all of them have no doubt been buoyed by Livongo’s IPO and the signal it sends to healthcare corporations, innovators, and investors everywhere. We are proud to have this expertise and vision here in the Midwest, and we look forward to seeing more Livongo-like exits in our future.

* My firm, HPA, invested in this company.

Originally featured in Forbes.

Source: https://hydeparkangels.com/how-livongo-just-opened-the-floodgate-to-a-digital-healthcare-wave/#utm_source=rss&utm_medium=rss&utm_campaign=how-livongo-just-opened-the-floodgate-to-a-digital-healthcare-wave

Continue Reading

Private Equity

Ordermark Funded $120M to Expand its Virtual Business

Virtual

Ordermark is based in Los Angeles, CA, one of the leading online ordering management solutions for restaurants and virtual restaurant concepts.

Ordermark was funded $120 million series C round funding. The funding was led by prominent technology investor SoftBank Vision Fund and joined by returning investor Act One Ventures. The grant will use to help more restaurants transition to online ordering during the pandemic and beyond.

The company’s software consolidates incoming orders from multiple platforms and sends them to a single printer. Ordermark also operates a company

Continue reading

The post Ordermark Funded $120M to Expand its Virtual Business appeared first on Funded.com.

Avatar

Published

on

Virtual

Ordermark is based in Los Angeles, CA, one of the leading online ordering management solutions for restaurants and virtual restaurant concepts.

Ordermark was funded $120 million series C round funding. The funding was led by prominent technology investor SoftBank Vision Fund and joined by returning investor Act One Ventures. The grant will use to help more restaurants transition to online ordering during the pandemic and beyond.

The company’s software consolidates incoming orders from multiple platforms and sends them to a single printer. Ordermark also operates a company called Nextbite, a portfolio of 15 readymade virtual brands such as CraveBurger, Firebelly Wings, and HotBox by Wiz, a collaboration with rapper Wiz Khalifa. Restaurants can offer these delivery-only brands out of existing kitchens, opening up additional revenue streams.

Jeff Housenbold, the Managing Partner at SoftBank Investment Advisers, said. They believe Ordermark is a leading technology platform and innovative virtual restaurant concepts transform the restaurant industry. And they are excited to support their mission to help independent restaurants optimize online ordering and generate incremental revenue from under-utilized kitchens.

The rise of ghost kitchens and virtual restaurants, often referred to as the 3rd wave of food delivery, have paved the way for a broader addressable market for online food delivery.

The statement of Alex Canter, the chief executive officer behind Ordermark 2020, has been a tough year for restaurants. That’s why they are focus on providing products and services to help keep their doors open. This funding allows them to offer more restaurants with innovative ways to reach more consumers.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Source: https://www.funded.com/blog/2020/10/ordermark-funded-120m-to-expand-its-virtual-business/

Continue Reading

Private Equity

Alternative Investments/ESG: Amundi Launches Sustainable ETF With Exposure To Japanese Stocks

The Amundi Index MSCI Japan SRI UCITS ETF offers exposure to large and mid-cap companies with outstanding Environmental, Social, and Governance (ESG) ratings in the Japanese market. The new ETF is an extension of Amundi’s range of sustainable ETFs.

Avatar

Published

on

Alternative Investments/ESG: Amundi Launches Sustainable ETF With Exposure To Japanese Stocks

https://platodata.net/wp-content/uploads/2020/10/alternative-investments-esg-amundi-launches-sustainable-etf-with-exposure-to-japanese-stocks.jpg

Amundi’s new ESG ETF invests in large and mid-cap Japanese stocks.

The Amundi Index MSCI Japan SRI UCITS ETF offers exposure to large and mid-cap companies with outstanding Environmental, Social, and Governance (ESG) ratings in the Japanese market.

The new ETF is an extension of Amundi’s range of sustainable ETFs. (ETF Stream)

Amundi Index MSCI Japan SRI UCITS ETF

The ETF tracks the performance of the MSCI Japan SRI Filtered ex Fossil Fuels Index, which in turn is an equity index based on the MSCI Japan Index (the parent index). The index is representative of the large and midcap stocks of the Japanese market.

It excludes issuers involved in Nuclear, Tobacco, Thermal Coal, Alcohol, Gambling, Controversial Weapons, Conventional Weapons, Civilian Firearms, Oil & Gas, Fossil Fuels, Genetically Modified Organisms (GMO), and Adult Entertainment.

Its total expense ratio is 0.18%. No performance fees apply.

It is an accumulation fund and will be managed by Amundi Luxembourg SA, an entity that is part of the Amundi group.

The ETF is market-cap weighted and includes a 5% capping on issuer weights. It comprises 68 stocks, compared to 320 names in its parent index.

The fund’s largest holding is Nintendo with 5.6% weighting ahead of Daikin Industries with 5% and Sony with 4.7%.

It is listed on the Deutsche Boerse and Euronext Paris.

ESG ETFs continue record run

European ESG ETFs continued their strong trend and set a record for assets gathered in a month (€3.9 billion), according to the latest Money Monitor report from Lyxor ETF for September.

Related Story:  Amundi Expands ESG Range With Two New ETFs

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

Shape

Latest Alternative Investment News

Source: https://dailyalts.com/alternative-investments-esg-amundi-launches-sustainable-etf-with-exposure-to-japanese-stocks/

Continue Reading

Private Equity

Artificial Intelligence: Intel First To Deploy AI “On Edge” In Space

Intel (NASDAQ: INTC) has the distinction of launching the first onboard AI processing chip into space. Earlier this month, the European Space Agency and Intel announced the successful deployment in space of PhiSat-1, the first-ever satellite with onboard AI-processing capabilities. Launched from a rocket dispenser on September 2, the PhiSat-1 is positioned about 530 km above our heads, moving at a speed of 27,500 km per hour in a sun-synchronous orbit.

Avatar

Published

on

Artificial Intelligence: Intel First To Deploy AI “On Edge” In Space

https://dailyalts.com/wp-content/uploads/2020/10/Intel-AI-Satellite-4-scaled.jpg

A satellite the size of a cereal box, carrying a camera and an AI chip, is now in orbit.

Intel (NASDAQ: INTC) has the distinction of launching the first onboard AI processing chip into space. Earlier this month, the European Space Agency and Intel announced the successful deployment in space of PhiSat-1, the first-ever satellite with onboard AI-processing capabilities. (Business Insider)

Launched from a rocket dispenser on September 2, the PhiSat-1 is positioned about 530 km above our heads. It is moving at a speed of 27,500 km per hour in a sun-synchronous orbit.

PhiSat-1

The satellite’s objective is to monitor polar ice and soil moisture, as well as to test inter-satellite communication systems.

The satellite carries a hyperspectral-thermal camera and an Intel Movidius™ Myriad™ 2 Vision Processing Unit (VPU). The latter is responsible for the AI heavy lifting operations onboard the spacecraft.

Myriad’s immediate function is to curate the huge mass of data captured by the camera.

AI at the ultimate edge – space

The big problem facing the scientists was the sheer volume of data generated by the hi-fidelity camera onboard the PhiSat-1. The camera unfortunately does not know how to differentiate between a cloudy and clear environment.

It, therefore, takes a large number of photographs that are useless because, at any given time, clouds envelop two-thirds of the earth’s surface.

The junk photos consume precious internet bandwidth to send down to earth. After all that, scientists would likely delete the unclear photos.

The scientists decided to use onboard AI (also known as “on edge” processing) to curate the photos. Myriad-2 would examine the images, trash the useless ones, and send only the good ones to earth.

By discarding the cloudy images at the source, they saved nearly 30% of bandwidth.

“Artificial intelligence at the edge came to rescue us, the cavalry in the Western movie,” says Gianluca Furano, data systems and onboard computing lead at the European Space Agency.

“Space is the ultimate edge,” says Aubrey Dunne, chief technology officer of Ubotica, the Irish startup that built and tested PhiSat-1’s AI technology. “The Myriad was absolutely designed from the ground up to have an impressive compute capability but in a very low power envelope, and that really suits space applications.”

Ubotica worked with cosine, the maker of the camera, in addition to the University of Pisa and Sinergise.

After three weeks of testing, the team could establish that Intel’s Myriad AI onboard the PhiSat-1 was working fine.

ESA then announced “the first-ever hardware-accelerated AI inference of Earth observation images on an in-orbit satellite.”

Satellite-as-a-service!

Scientists can now visualize multiple applications of AI on satellites.

For example, the satellite, during one orbit, could switch from spotting wildfires on land to rogue ships or environmental accidents at sea such as oil spills.

It could measure crops and soil moisture over farms and forests, and assess the ill effect of climate change on melting ice caps.

Related Story:   Satellites and AI Could Together Predict Wildfires Accurately

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

Shape

Latest Alternative Investment News

Source: https://dailyalts.com/intel-first-to-deploy-ai-on-edge-in-space/

Continue Reading
Blockchain2 hours ago

Blockchain2 hours ago

Blockchain2 hours ago

Blockchain2 hours ago

Blockchain2 hours ago

Venture Capital2 hours ago

Venture Capital2 hours ago

Venture Capital2 hours ago

Venture Capital2 hours ago

Venture Capital2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Saas2 hours ago

Startup2 hours ago

President Trump’s campaign website hacked by cryptocurrency scammers

Press Releases2 hours ago

Mirati Therapeutics Announces Pricing Of Public Offering Of Common Stock

Press Releases2 hours ago

3Q20 Results: Telefônica Brasil S.A.

Press Releases2 hours ago

Historical Barriers And Structural Inequalities Still Account For Black-White Homeownership Gap

Press Releases2 hours ago

The MICHELIN Guide Highlights Sustainable Gastronomy and Inspector Discoveries During Virtual Family Meal Event in California

Press Releases2 hours ago

Clements Worldwide reçoit la distinction Best Practices Agency de l’IIABA pour la 14e année de suite

Press Releases3 hours ago

Oral Rinse COVID PCR Test Immediately Available in Nevada for Individuals, Businesses and Medical Personnel

Blockchain3 hours ago

Investors, Customers Reward MicroStrategy for Using Bitcoin as Treasury Reserve Asset

Press Releases3 hours ago

Bogino Properties offering an effective three-step process for selling houses in Atlanta for homeowners dealing with stressful situations.

Press Releases3 hours ago

D&D Movers offering affordable options along with an experienced team to help families and businesses make moves stress-free.

Venture Capital3 hours ago

Accelerating digital transformation strategy to support SMEs customers to thrive

Press Releases3 hours ago

Renowned Age Management Pioneer Dr. Gaines in Boca Raton is Helping Alzheimer’s Patients With Plasma Treatments

Startup4 hours ago

New CDC data shows that hospitals counted heart attacks as COVID-19 deaths; CDC counts over 51,0000 patients actually died from heart attacks instead of COVID-19

Press Releases4 hours ago

One Artist is Getting Creative During the COVID-19 Quarantine

Venture Capital4 hours ago

Australian fintechs proving resilient

Venture Capital4 hours ago

Illion Open Data and Credit Simple become CDR recipients

Venture Capital4 hours ago

Uno pilots new broker referral model

Saas4 hours ago

How do you decide between hiring a VP or Director/Manager of Product?

Press Releases5 hours ago

Workers’ Compensation Insurance MGU Method Adds Falls Lake as New Carrier

Press Releases5 hours ago

Neo7Logix COVID-19 Treatment Reduces Viral Infection by More Than 99% in Preclinical Study

Trending