Votive Health Raises $2.5MM in Funding to Bring Complex Care Home
The health care start-up facilitates payer-provider integration through value-based arrangements to end suffering for people with serious illness.
SAN LUIS OBISPO, Calif., April 28, 2021 /PRNewswire/ -- Votive Health announced today its formal launch following a $2.5 million financing led by Flare Capital Partners with Chrysalis Ventures and OCA Ventures as co-investors. Votive Health is a technology enabled network manager delivering complex care at home for people facing serious illness. It was founded by a team of health care insiders who share a passion for solving issues that result from the fragmented health system in the U.S. for patients living with a serious illness.
"Too often patients facing a serious illness receive unnecessary and expensive services that don't meet their physical, social, or existential needs, and which add to the financial stress and burden on the family," explains Torrie Fields, Founder and Chief Executive Officer of Votive Health. "Patients don't get the personalized care they need while costs to payers and providers continue to grow. We're solving that disconnect by bringing complex care home."
Votive Health brings together value-based care with a technology platform that facilitates payer-provider integration through value-based arrangements. Votive Health acts as a conduit, removing the barriers between cost and care so people living with complex and serious illness can focus on living and their providers can focus on caring.
Our world-class team, investors, and advisors are skilled, mission-driven operators with deep industry expertise in delivering high quality technology and services. Votive Health's first round of funding was supported by 4 institutional investors: Flare Capital Partners, Chrysalis Ventures, OCA Ventures, Elusive Ventures, led by Jeff Butler, and the Teleios Collaborative Network, led by Chris Comeaux. Dan Gebremedhin (Partner, Flare Capital Partners) and David Jones, Jr. (Chrysalis Ventures) join as board members, with Robert Saunders (OCA Ventures) as board observer.
"Home-based care for people with serious illness has been long overlooked by the world of managed care and thus subject to the often-perverse incentives of a fee-for-service reimbursement system," says Gebremedhin, MD, MBA. "There is a significant opportunity to increase the adoption of clinically appropriate palliative care and hospice services and to incentivize providers to deliver value-based outcomes for risk bearing entities. We are excited to support the Votive Health team aiming to spur this transformation and enable high quality, goal directed care for millions of patients managing their complex needs."
Votive Health is also proud to be supported by industry leaders in healthcare, finance, and technology, including: Mark Morse (Enclara Pharmacia); Eric Heitzman (Security Compass); Arnold Whitman (Generator Ventures and Formation Capital); Lisa Suennen (Valkyrie Ventures and Manatt Digital Technologies Group); Dr. John Morris (Teleios Collaborative Network); Former Cricket Health Chief Product Officer Geoff Clapp; Former Cambia Health Solutions actuarial pricing expert Tom Wortman; Former CityBlock President Matt Klitus; and Former Aspire Health clinical leadership Dr. Katy Lanz (Topsight Partners) and Dr. Andrew Lasher (IVX Health).
This infusion of capital will enable Votive Health to quickly accelerate and broadly scale its operation to deliver this new standard of care. Votive Health and its investors have built relationships nationwide and are developing an infrastructure to deliver high quality care that payers can trust, is financially sustainable for providers, and improves the lives of patients and families.
Joining the Votive Health Leadership Team are:
- Torrie Fields, Chief Executive Officer
- Dr. Csaba Mera, Chief Medical Officer
- Sid Khanijou, General Counsel and Vice President, Network Strategy
- Tres Cossaboom, Vice President, Finance
- Dan Lamoree, Vice President, Technology
About Votive Health
Votive Health is committed to ending suffering for people facing serious illness by facilitating better payer-provider integration through value-based arrangements. We leverage our expertise in network analysis, information technology, and capacity management to improve market performance for payers, reliable referrals for providers, and excellent care for patients. Votive Health acts as a conduit, removing the barriers between cost and care so people living with complex and serious illness can focus on living and their providers can focus on caring. Learn more at Votive Health and follow us on Twitter @votive_health
About Flare Capital PartnersFlare Capital Partners strives to help build significant healthcare technology, digital health and healthcare services companies to improve health outcomes and broaden access while lowering costs of care. We partner with inspirational entrepreneurs who seek to transform the business of healthcare by developing innovative and impactful products and services. Flare Capital is a team of proven healthcare technology investors and senior operating executives known for thought leadership and unparalleled strategic industry resources. Our firm has raised some of the industry's largest dedicated venture capital funds focused on early stage opportunities in healthcare technology innovation, and our investors include leading healthcare companies, major institutional investors, important family offices, foundations and sovereign wealth funds. We are full life-cycle investors in our portfolio companies as we support and work alongside entrepreneurs over their entire company-building journey. Select portfolio companies include Aetion, Aspen RxHealth, Bright Heath, Cohere Health, Eden Health, HealthVerity, Iora Health, Somatus, Tausight and VisitPay. Learn more at Flare Capital Partners and follow us on Twitter @flarecapital
About Chrysalis Ventures
For over 25 years, Chrysalis has partnered with talented entrepreneurs to build businesses of enduring value. We invest behind people using technology to solve hard problems, change the industries in which they operate, and unlock value. Taking a hands-on approach, we collaborate closely with the teams we back, sharing our experience, expertise and network to accelerate growth and overcome the challenges inherent in building companies. To learn more about Chrysalis Ventures, please visit www.chrysalisventures.com.
About OCA Ventures
OCA Ventures is an early-stage venture capital firm focused on equity investments in companies with dramatic growth potential in highly-scalable businesses. Founded in 1999, the firm has 90+ portfolio companies and has offices in Chicago and Palo Alto. To learn more about OCA, visit www.ocaventures.com.
MEDIA CONTACT
Michelle Melendez
+1 805-391-4319
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Related Links: https://www.votivehealth.com/
SOURCE Votive Health, Inc.
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