In an increasingly competitive market for chronic disease management, Hello Heart is gearing up for growth with $45 million in new funding. The startup recently raised a series C round led by growth equity firm IVP, which has made late-stage investments in companies including Lyra Health, Snap and Twitter. Existing investors Khosla Ventures, BlueRun Ventures and Maven Ventures also participated in the round.
Hello Heart offers an app-based program to help users manage their blood pressure, pulse and medications. It sends users connected blood pressure monitors and glucometers to track their numbers, and they can also share their results with a physician.
As the startup looks to scale, it will face big competitors in Livongo and Omada, which also offer digital programs for managing diabetes and high blood pressure to employers.
Hello Heart is currently covered by more than 30 Fortune companies, CEO Maayan Cohen wrote in an email, though she wouldn’t disclose their names. The company was also added to CVS Health’s digital health platform for its PBM clients, intended to make it easier for health plans to contract with third-party apps and monitor their performance.
In the last year, the company tripled its business, as employers adopted more digital health tools during the pandemic.
Even as the pandemic starts to wane in the U.S., the momentum continued, Cohen said. That’s when the company decided to seek funding.
“We were able to develop new relationships – including the one with CVS, and realized we needed to take full advantage of the increased demand,” she wrote in a statement. “I decided it was time to add top talent and build a strong infrastructure to support our growth.”
The startup plans to use the funds to build out its engineering and go-to-market teams. It also plans to track a broader range of heart conditions, such as arrhythmia, hyperlipidemia, and at-home diagnostic tools like ECGs.
“We are now expanding from hypertension management to deeper clinical heart health,” she told MedCity News.
Business News Governmental News Finance News