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RadiantGraph, which uses machine learning and artificial intelligence to drive consumer engagement for health plans, raised a $5 million seed, CEO Anmol Madan tells Aaron exclusively.

Why it matters: Health insurance costs are rising, while consumer engagement with health care remains a challenge.

Details: The round was led by True Ventures with support from XYZ Ventures and Remus Capital.

The funds will be used to partner with additional health care organizations and build RadiantGraph's enterprise health and health plan product offerings.

RadiantGraph has a partnership with Jasper Health.

Madan declined to comment on valuation and financials.

How it works: RadiantGraph uses machine learning and artificial intelligence to analyze data — like medical claims, medication history and biometric information — in order to track patterns in patient populations and help tailor care.

In behavioral health, for example, there are various types of content and digital clinical interventions based on a person's clinical need, acuity, and preferences.

"In chronic conditions like diabetes, consumers find different ways to engage in their health-related behaviors that positively impact their lifestyle and health outcomes," Madan says.

What they're saying: "A personalized experience will drive outcomes and engagement and thus translates to better economic outcomes in this value-based care world," Madan says.

"Very few providers have the means, resources and expertise to build this type of platform in-house," he says. "They often try and buy one, mostly point solutions."

"Successful companies these days are built around billing," says True Ventures partner Adam D'Augelli.

"RadiantGraph helps health care organizations understand their patient population and provide better care, which will ultimately lead to increased revenue in a value-based care world," D'Augelli adds.

Catch up quick: Madan was previously chief data scientist at Teledoc for two years after co-founding Ginger, which was acquired by Headspace.

D'Augelli and True Ventures were also one of the first investors in Ginger.

"The expertise goes a long way," D'Augelli says of Madan.

1 big thing: RadiantGraph seeds $5M for engagement

Illustration of a stethoscope tied in knots around binary numbers.

Elder care hardware and software provider Sage raised $15 million in Series A funding, CEO Raj Mehra tells Erin exclusively.

Why it's the BFD: Despite a rapidly aging U.S. population, senior care facilities rely on analog tools that can slow caregiver response time and contribute to health worker burnout.

Details: New investor Maveron led the round.

All of Sage's previous investors including Goldcrest Capital, Animo Ventures, and Distributed Ventures joined. Maveron partner Natalie Dillon joins Sage's board of directors.

Funds will go toward expanding the company's implementation, growth, and data science teams.

Mehra declined to say when Sage might collect a Series B but said the Series A provides the company with roughly 36 months of runway.

How it works: Based in New York, Sage works with nursing facilities to deploy hardware that replaces existing tools — pull cords, help buttons, etc. —with press-able and voice-activated devices.

Caregivers use Sage to coordinate their responses and triage care, and care managers review Sage's data to better understand patient needs and assess staff performance.

Catch up fast: Sage's Series A follows the company's $9 million seed raise in 2022.

What they're saying: Mehra says he's watched as industries such as child care and pet care have been improved by tech-enabled tools that increase visibility and transparency into the caregiving process, and believes it's time for elder care to benefit from the same trends.

"The caregiver is an overlooked consumer and so is the older adult," Mehra says. "It's a black hole."

State of play: With the elderly population in the U.S. booming, several senior care-focused startups have attracted venture attention in recent months. For example:

Primary care provider Greater Good Health earlier this month collected a $20 million Series A.

Bold, a provider of virtual exercise programs for Medicare Advantage members, in September inked $17 million in Series A funding.

Author Health in June debuted with $115 million to support Medicare Advantage users with serious mental illness.

2. The BFD: Sage notches $15M Series A

Illustration of a nurse walking with an elderly man.

Want more health tech deals? Check out the Axios Pro Deals Tracker beta.

• Rymedi, a Greenville, S.C.-based health data company, raised $9m in Series A funding co-led by RW3 Ventures and White Star Capital. https://rymedi.com/

• KKR made an investment in Precipart, a Lyss, Switzerland-based contract manufacturer of precision components for medical devices. https://www.precipart.com/

• Fulcrum Equity Partners, Leavitt Equity Partners and Harpeth Capital-backed SurgNet Health Partners, a Brentwood, Tennessee-based ambulatory surgery center company, acquired surgical services providers Executive Ambulatory Surgery Center and Lippy Surgery Center. https://www.surgnethealthpartners.com/

• SCAN Group made a strategic investment in Dina, a Chicago-based home care management and coordination company. https://www.dinacare.com/platform

3. Deals o' the day

• Nikole Benders-Hadi, formerly VP at Included Health, joined Talkspace as chief medical officer. https://www.talkspace.com/

• Christopher Aguwa, formerly EVP of growth at Cityblock Health, joined Lane Health as chief commercial officer. https://axios.link/494P9fZ.

• Benjamin Hamawy left a post as regional CFO at Humana to become CFO at Upward Health. https://upwardhealth.com/

• Chris Moore was promoted from president to CEO at Vision Innovation Partners. https://www.gryphon-inv.com/

4. It's Personnel

 👩🏻‍⚕️ Why Walgreens pharmacy staff are doing walkouts — MedCity News

🍎 Apple discussed using Vision Pro for mental health — The Information

🏥 Violence in U.S. hospitals is out of control — NYT

5. Your daily dose

Illustration of a prescription with a handwritten note saying "daily dose."

Happy Wednesday, Health Tech readers, and congrats on making it halfway through the week.

🏀 🍀 Aaron is overwhelmed at the prospect of the World Series and NBA season starting and already bought Celtics-Nets tickets for Feb. 13. 

💕 Thanks for reading, and extra thanks to newsletter editor Claire Rychlewski and copy editor Mickey Meece. Please ask your colleagues, friends, and family to sign up.

October 25, 2023

1 big thing: RadiantGraph seeds $5M for engagement