Internet and technology group Alphabet led a $140m series B round for US-based kidney care provider Strive Health yesterday through growth equity subsidiary CapitalG.
The round included Ascension Ventures, the venture capital firm backed by 13 healthcare providers, and Echo Health Ventures, the VC firm co-founded by care provider Cambia Health Solutions.
Redpoint Ventures, New Enterprise Associates (NEA) and Town Hall Ventures made up the rest of the participants in the round, which the company said lifted its overall funding to approximately $224m.
Strive uses technology in conjunction with high-touch care to reduce the progression of kidney disease and help avoid more serious, costlier care. It now plans to access the expertise of Alphabet, which has invested in several healthcare technology companies in addition to running its own healthtech operations.
CapitalG partner Sumi Das: “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.
“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 company had previously raised an undisclosed amount in an April 2019 round co-led by Ascension Ventures and NEA and backed by Echo Health Ventures and Town Hall Ventures.
