Digital health news, funding roundup in the prior week; October 11

CVS Health turning drugstores into super-clinics; BetterUp raises another round for $5B valuation

Headlines from last week:

A number of 2021 healthtech companies are trading below their IPO price, with reduced market caps. More healthtech companies are going public, but are they measuring up? Read more on Vatornews

CVS Health is about to turn hundreds of its drugstores into health care super-clinics.On Feb. 1, Karen Lynch became the chief at CVS Health, the fourth-biggest company in the country—and the largest in health care, America’s biggest and in many ways most backward industry. She started fast with a daring gambit: putting CVS at the heart of the pandemic response, as a hub for COVID tests and vaccines. Read more on Fortune

Carbon Health acquires RPM vendor Alertive Healthcare. The deal comes shortly after Carbon Health's acquisition of virtual diabetes management platform Steady Health and a $350 million funding round. Read more on Fierce Healthcare

Mental health startup BetterUp raises funds at near $5 bln valuation. BetterUp has over 3,000 coaches on its platform and also provides analytics and real-time insights to help track employee progress. Read more on Reuters

The climate crisis is also a healthcare crisis. Climate change is a menace to human health — and the medical sector is part of the problem. Read more on Financial Times

Fund raisings of last week: 

Neumora Therapeutics: Neumora Therapeutics is a Watertown, Ma.-based developer of precision medicines for brain diseases. Neumora Therapeutics has raised $500 million in Series A(!) funding. Arch Venture Partners led the round, joined by Amgen, Alexandria Venture Investments, Altitude Life Science Ventures, Catalio Capital Management, F-Prime Capital, Invus, Logos Capital, Mubadala, Newpath Partners, Polaris Partners, re.Mind Capital, SoftBank, Surveyor Capital and Waycross Ventures. Read more 

Honor: Honor is a San Francisco-based senior care network and tech platform. Honor has raised $70 million in Series E funding and $300 million in debt financing. Baillie Gifford led the equity financing with participation from earlier investors, including funds and accounts advised by T. Rowe Price, Home Instead founders Paul and Lori Hogan, Prosus Ventures, Andreessen Horowitz, Thrive Capital, FMZ Ventures, Rock Springs Capital, Lighthouse Capital Markets, and TriplePoint Capital. Perceptive Advisors meanwhile led the debt financing with a "significant commitment" from Ares Management funds. Read more

Twin Health: Twin Health is Los Gatos, Ca.-based digital metabolic care startup. Twin Health has raised $140 million in Series C funding. Backers in the round include ICONIQ Growth, Sequoia Capital India, Perceptive Advisors, Corner Ventures, LTS Investments, Helena and Sofina. Read more

Ladder: Ladder is a Palo Alto, Ca.-based digital life insurance startup focused around flexible term life insurance policies. Ladder has raised $100 million in Series D funding co-led by Thomvest Ventures and OMERS Growth Equity. Read more

Lightship: Lightship is a El Segundo, Ca.-based maker of virtual clinical trial software. Lightship has raised $40 million in funding co-led by Define Ventures and Brook Byers, with participation from Khosla Ventures, McKesson Ventures and Time Ventures. Read more 

Brave Care: Brave Care is a Portland, Ore.-based pediatric healthcare provider that operates in-person clinics and provides remote care. Brave Care has raised $25 million in Series B funding led by the physician services provider Mednax. Read more

Thyme Car: Thyme Care is a Nashville TN-based provider of oncology care management solutions.The company announced a $22 million funding round on Tuesday, led by Andreessen Horowitz, AlleyCorp, and Frist Cressey Ventures with participation from Casdin Capital and Bessemer. Read more

GraphWear: GraphWear is a Bay Area-based company that makes a continuous glucose monitoring wearable. GraphWear has closed a $20.5 million Series B round led by Mayfield, with participation from MissionBio Capital, Builders VC and VSC Ventures. Read more 

MindLabs: MindLabs is a London-based live mental health platform. MindLabs has raised $3.5 million in seed funding. PROFounders Capital led the round, joined by Slack Fund, Passion Capital and Seedcamp. Read more 

Bisu: Bisu is a Tokyo, Japan-headquartered healthcare startup that has built what it describes as a lab-grade testing device that can be used at home for diagnostics. Bisu has raised $3.2 million in seed funding led by QUAD, with participation from ASICS Ventures, 15th Rock Ventures, Pacifico Investments and SOSV. Read more

Redi.Health: Redi.Health is a provider of a health management technology platform for polychronic patients. Redi.Health announced a seed funding round led by Mutual Capital Partners, along with M25, Rev1 Ventures and Plug and Play. Read more

Podcasts published last week:

Nomad Health co-founder and CEO Alexi Nazem on VatorNews podcast

If you are interested in being included in our funding roundup, submit your press release or blog post about your financing round to kristin@vator.tv. If you want a longer write-up, please do give us a couple of days heads up. If you'd like to be included in our Today's Entrepreneur column, please send me your Vator profile.

Image by Gerald Oswald from Pixabay