DENVER--(BUSINESS WIRE)--Strive Health, the national leader in value-based kidney care, today announced that the company secured a $140 million Series B round of funding led by CapitalG, Alphabet’s independent growth fund. Redpoint also joins current investors NEA, Town Hall Ventures, Ascension Ventures and Echo Ventures to complete the round. The financing will support the growing demand for Strive’s innovative whole-patient solution for kidney disease populations. This brings Strive’s total funding to $223.5 million.
Strive’s model combines advanced technology with high-touch patient care to slow kidney disease progression, prevent unnecessary and costly hospitalizations, and expand access to optimal renal replacement therapies such as home dialysis and transplants. The growing national spotlight on kidney care and the demand for value-based healthcare solutions has helped Strive more than double its presence in regional markets and grow its employee base by more than 600% in the last year.
The new partnership with CapitalG is expected to amplify Strive’s position as the leader in value-based kidney care through growth capital and unique access to Google and Alphabet expertise to support product and go-to-market innovation.
“Chronic and end-stage kidney disease patients continue to be underserved by the current healthcare system. Strive has built an industry-leading kidney care solution that has the potential to transform patients’ lives,” said Sumi Das, partner at CapitalG. “After extensively studying the landscape, we determined that Strive’s technology, care delivery model, and team were best-in-class in the rapidly emerging kidney care segment. We are excited to partner with the Strive team to improve patient outcomes and significantly drive down healthcare costs.”
The announcement serves as further validation that Strive’s tech-enabled high-touch care model can reverse the national health crisis caused by kidney disease. Kidney disease affects 37 million adults and is the nation’s ninth leading cause of death. It disproportionately impacts people of color and significantly elevates the risk of developing serious complications from COVID-19. Despite dismal outcomes, only 10% of people with chronic kidney disease (CKD) are aware they have the disease, over half of late-stage CKD patients have not seen a nephrologist, and roughly 60% of people who experience kidney failure do so in an unplanned way.
Strive's artificial intelligence (AI)-powered data science models predict disease progression with greater than 95% accuracy. Specially trained clinicians, referred to as Kidney HeroesTM, use this data to help patients slow disease progression and manage other avoidable health risks. If patients progress to kidney failure, Strive is equipped to coordinate transplants or flexible home dialysis. Strive’s programs have dramatically improved care quality and shown up to 29% reduction in total healthcare spend.
“Our focus is on providing great patient care. Technology is a critical aspect of doing this well, and our unique partnership with CapitalG will help us profoundly elevate our growth and technology vision by leveraging the insights and expertise of the best and brightest minds at Google and Alphabet,” said Chris Riopelle, CEO of Strive Health. “We are thrilled by how this partnership will take us to the next level and enable compassionate kidney care the way it should be done.”
The company has signed contracts to deliver its innovative solution to leading healthcare payors and providers, including Humana, Blue Cross and Blue Shield of North Carolina, SSM Health, Conviva Care Centers and more. Strive also has partnerships with hundreds of nephrology providers through new Medicare payment models and aggressive growth plans for the coming year.
CapitalG, Alphabet's independent growth fund, helps remarkable entrepreneurs accelerate the growth of their businesses. We partner with transformational companies to help them navigate the challenges of scaling through active support from our in-house growth team, thoughtful introductions to the brightest minds at Alphabet and Google and meaningful connections to our network of founders and operators leading some of the world’s most innovative companies, including Airbnb, Credit Karma, CrowdStrike, Databricks, Duolingo, Lyft, Oscar, Stripe and UiPath. To learn more, visit www.CapitalG.com.
About Strive Health
Strive Health is the national leader in value-based kidney care and partner of choice for innovative healthcare payors and providers. Strive's model uses a unique combination of high-touch care teams, predictive analytics, advanced technology, seamless integration with local providers, and next-generation dialysis services to form an integrated care delivery system that supports the entire patient journey from chronic kidney disease (CKD) to end stage kidney disease (ESKD). Strive partners with commercial and Medicare Advantage payors, Medicare, health systems, and physicians through flexible value-based payment arrangements, including risk-based programs. Backed by New Enterprise Associates, CapitalG, Redpoint, Town Hall Ventures, Echo Health Ventures, and Ascension Ventures, Strive delivers compassionate kidney care the way it should be done. For more information, visit us on Twitter, LinkedIn or at www.strivehealth.com, or email email@example.com.