StartUp Health Raises $19.3M Led by Ping An Global Voyager Fund, GuideWell and Masimo
StartUp Health, which is organizing, supporting and investing in a global army of Health Transformers to achieve 10 Health Moonshots, announced today that it has raised $19.3M from Ping An Global Voyager Fund, GuideWell, Masimo Corporation and a consortium of partners through StartUp Health Transformer Fund II .
“We are inspired by StartUp Health’s bold plan for solving the world’s biggest health challenges and are very pleased to embark on this partnership to support a generation of health entrepreneurs together,” said Jonathan Larsen, Chief Innovation Officer of Ping An Group and Chairman & CEO of Ping An Global Voyager Fund. “StartUp Health has created a health moonshot factory which brings us early access to the innovators transforming health on a global level. Together, we will be able to speed up innovation cycles and make a significant impact on people’s lives.”
“We are excited to partner with StartUp Health for their unparalleled ability to identify, attract, evaluate and support entrepreneurs who are shaping the future of health from key areas of interest to us,” said Sarah Iselin, Senior Vice President and Chief Strategy Officer at GuideWell. “We are excited about the impact we can make on solving real health challenges together.”
“Our purpose is to bring extraordinary technologies to market to improve people’s health. Our partnership with StartUp Health will help us to continue to fulfill that purpose by connecting us into a global network of entrepreneurs and innovators,” said Joe Kiani, CEO of Masimo Corporation.
A key part of the StartUp Health’s plan since they launched in 2011 is to leverage the network effect by organizing entrepreneurs (“Health Transformers”) and to partner with the world’s leading organizations who can support these Health Transformers with capital, expertise and opportunities to scale. StartUp Health has amassed the world’s largest portfolio of over 200 digital health companies from 5 continents and 19 countries, and has created a global network of over 30,000 investors, customers, and partners.
“From day one, we’ve had a synced vision and mindset with Ping An, GuideWell and our extraordinary network of partners committed to supporting health innovation,” said Steven Krein, Co-founder and CEO of StartUp Health. “We believe unique collaborations are required between those entrepreneurs pushing innovation forward and the world’s industry leaders in order to fix today’s most complex healthcare challenges.”
“When you are sprinting a marathon as so many Health Transformers are, there’s nothing better than having batteries included partners by your side coaching you to success,” said Unity Stoakes, President and Co-founder of StartUp Health. “We are thrilled to have partners like Ping An, GuideWell and Masimo Corporation, who are so aligned with our vision for transforming health.”
Following the completion of StartUp Health’s inaugural fund which included 100 digital health companies, the StartUp Health Transformer Fund II will support and invest in more than 200 companies focused on achieving Health Moonshots over the next two years. Fund II already has more than 100 companies in its portfolio from 13 countries including Australia, Brazil, Canada, England, Finland, Germany, Israel, Kenya, Mexico, Netherlands, Nigeria, Spain, and the U.S.
Companies can apply to the StartUp Health Moonshot Academy here.
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. (“Ping An” or “the Group”) is dedicated to becoming a world-leading personal financial services provider. Ping An is the No.1 insurance group globally in terms of market capitalization and the 39th largest company in the 2017 Global Fortune 500. As at 30 June 2017, the Group had over 143 million individual customers and over 400 million digital users across all of its platforms. As at the end of June 2017, the Group’s consolidated total assets reached USD 917 billion and currently has a market capitalization of over USD 190 billion. Ping An has also incubated leading app-based portals such as Lufax (the largest digital wealth management platform in China with over 30 million users) and Ping An Good Doctor (the largest telemedicine platform in the world with over 140 million users). The Ping An Global Voyager Fund was launched in May 2017 with an initial scope of USD1Bn with a mission to invest in fintech and digital health opportunities globally to deliver strategic capabilities to Ping An Group.
GuideWell Mutual Holding Corporation (GuideWell) is a not-for-profit mutual holding company and the parent to a family of forward-thinking companies focused on transforming health care. The GuideWell organization includes the leading health insurance company in Florida; a portfolio of clinical delivery organizations; a health care consumer marketing, sales and engagement company; a provider of administrative services to state and federal health care programs; and a leader in risk adjustment and population care management. For more information, visit http://www.guidewell.com.
About StartUp Health
In 2011, StartUp Health introduced a revolutionary new model for transforming health by organizing and supporting a global army of entrepreneurs called Health Transformers™. The Company is investing in 10 Health Moonshots, with the long-term goal of improving the health and wellbeing of everyone in the world. StartUp Health has the world’s largest digital health portfolio (over 200 companies spanning five continents, 19 countries and 60+ cities). Founded by Steven Krein and Unity Stoakes, StartUp Health is chaired by former Time Warner CEO Jerry Levin. Notable strategic partners and investors include Allianz, Aurora Health Care, Bayer, California Health Care Foundation, Steve Case, Mark Cuban, Esther Dyson, Brad Feld, Genentech, GE Ventures, GuideWell, Kaiser Permanente Ventures, Masimo Corporation, Ping An, SAP, and SeventySix Capital.