100plus Seed Stage

This is the 100plus pitch deck to raise a $25m seed round in 2021.

About

100Plus is the fastest-growing remote patient monitoring platform empowering doctors to manage their chronic patients remotely and proactively engage them to avoid expensive, episodic care and drive a higher quality of life. When a Medicare patient receives a 100Plus medical device, it’s at no cost to the patient or practice, fully configured, and ready to use out of the box — no smartphone, app, Bluetooth, or WiFi required. Reduce episodic care and improve patient care by continuously monitoring high-risk seniors in your population.

With the virus spreading, physicians needed to find ways to make sure their patients’ health stayed in check while limiting in-person visits. They turned to virtual consultations and digital tools that could be used at home to track blood pressure, diabetes, and lung conditions like emphysema and COPD.

Upstart primary care offices and major hospitals have been quick to adapt to telemedicine and remote monitoring, but smaller doctors’ offices have struggled to bring the costly and complex technology into their practices. 100Plus, a San Francisco remote monitoring startup, thinks its approach could help clinicians navigate the world of remote healthcare.

100Plus offers remote patient monitoring services that are easy to set up and costs patients little or nothing. Instead, the company signs contracts directly with primary care physicians.

100Plus ships blood pressure monitors, pulse oximeters, digital scales, and other devices to patients’ homes, preprogrammed to operate as soon as the patient opens the box. The devices send the data they collect back to their physician’s office.

On Wednesday, 100Plus raised a $25 million seed round that valued the company at $150 million, a source close to the deal told Insider. The financing came from private equity giants Henry Kravis and George Roberts of KKR, as well as self-help guru Tony Robbins, television personality Dr. Mehmet Oz and other angel investors. Two venture firms, Plug and Play Ventures and Correlation Ventures, participated in the round.

The structure of this funding round was by design, CEO Ryan Howard told Insider. Prior to raising the funds, 100plus had never taken outside capital.

He said his experience fundraising for his last company, electronic health records startup Practice Fusion, showed him the “underbelly” of venture capital that promoted an unhealthy “growth-at-all-costs” mindset. He was ousted as CEO of Practice Fusion in 2015 and started working on 100Plus shortly after.

“We have a fair amount more autonomy than, I would say, almost every venture-funded company in the Valley. It was really important this time around just not to have a repeat of what happened to Practice Fusion,” Howard told Insider.

Now, Howard’s comeback hinges in part on whether his strategy of being highly selective with venture capital can be successful.

Remote patient monitoring has remained an area of interest for industry investors both inside and outside venture firms, and Howard maintained said that the industry is still in its early days, with just 4% saturation divided among a handful of upstarts like 100plus. The recent funding will help Howard hire aggressively and continue to add new devices, he said, but he was adamant that this business could grow rapidly and sustainably.

Funding rounds

100plus Pitch deck

Pitch deck slides

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