Strive Health Series-B

This is the Strive Health pitch deck to raise a $140m series-b round in 2021.

About

Strive Health is a built-for-purpose company working with innovative payors and providers to transform kidney care. Strive Health significantly improves patient outcomes and experience with a high-touch, technology-enabled clinical model that cares for chronic kidney disease patients across their entire healthcare journey, from primary care-level engagement through dialysis. Strive was launched out of Oxeon’s Venture Studio and is backed by New Enterprise Associates, Town Hall Ventures, Echo Health Ventures, and Ascension Ventures.

A Denver-based upstart kidney-care company just got a $140 million cash infusion to take on dialysis giants like DaVita with a new approach to treating patients with kidney disease.

On Tuesday, Strive Health announced it raised $140 million in Series B funding at an undisclosed valuation. CapitalG, the venture arm of Google’s parent company Alphabet, led the round, which also included new investor Redpoint Ventures and existing backers NEA, Town Hall Ventures, Ascension Ventures, and Echo Ventures. Strive has raised $223.5 million to date.

The funds will go directly toward scaling the business, CEO Chris Riopelle told Insider. The startup currently operates in six states and has an eye on entering others by working with insurance companies like Humana, health systems, medical providers like SSM Health, as well as individual nephrologists.

Strive Health works directly with partners to offer monitoring and care for people with mid- and late-stage kidney disease, getting paid on a per member per month basis. It identifies a person’s other conditions, such as obesity or hypertension, and matches them with local nurse practitioners who work with the patients to manage the disease.

The goal, Riopelle said, is to slow the progression of the disease and ultimately help them avoid the need for dialysis in clinics like the ones DaVita and Fresenius operate. Dialysis treatment cleans the blood for patients whose kidneys don’t function well enough to provide that function on their own.

Should patients need dialysis or a kidney transplant, Strive helps them get the right treatment. Strive also operates more traditional dialysis centres where patients come in for treatment, but the primary focus is on providing dialysis care at home, Riopelle said.

The core of Strive’s pitch is in its technology, Riopelle said. He said few companies collect and interpret data on patients with kidney disease, who are typically complex and expensive to care for. Strive uses that data to make predictions about what a patient’s progress may be, what type of clinician is best suited to working with them, and how likely they are to progress in the disease quickly.

Working with CapitalG was something of a no-brainer, Riopelle said. Its parent company’s experience in scaling a massive business, plus its inside look at how artificial intelligence has been deployed successfully in a variety of business functions, will only become more valuable as Strive Health grows. It will also help the healthcare startup’s credibility when hiring technical talent, he said.

“The notion of an investor that’s looking at tech and how it really marries into high-touch care delivery is not simple, but the nuance is important. That’s healthtech,” Riopelle told Insider. “We are a healthcare service delivery company powered by technology.”

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