US-based clinical services provider Vesta Healthcare completed a $30m series A round on Monday featuring care providers CareCentrix and Kaiser Permanente in addition to insurance firm Nationwide.
Growth equity fund Oak HC/FT and investment manager Deerfield Management Company co-led the round, which included Generator Ventures, Lux Capital and Epstein Partners. Kaiser Permanente and Nationwide took part through subsidiaries Kaiser Permanente Ventures and Nationwide Ventures.
Founded in 2018 as HT Health, Vesta has developed technology that assesses the needs of elderly patients and whether they require more resources at home. It also offers telehealth support for home carers and patients, providing extra care through specialists if needed.
Vesta CEO Randy Klein said: “We are delighted to have such an experienced, passionate and dedicated group of investors who see the potential for Vesta to make a meaningful impact on people’s daily health by creating engaging and supportive tools for caregivers.”
The cash will support sales and marketing, product development and engineering as the startup prepares to enter additional US markets this year. It described Kaiser Permanente Ventures and Lux Capital as existing investors without giving details of its seed funding.
Deerfield principal Bharath Ganesan has joined Vesta’s board of directors while Deerfield partner Julian Harris and Generator Ventures’ managing director, Russell Hirsch, are taking board observer positions.
