This is one hell of a time to be alive. If you read the news headlines, it is hard to think of anything else but the challenges we are all up against. COVID-19 cases are spiking, Black Lives Matter may be the largest movement in U.S. history, and most countries are on the brink of a major recession.
To put our current state of affairs in perspective:
From the Social Take: This is the greatest U.S. Civil Rights Movement in 50+ years (Civil Rights, Voting Act)
From the Financial Take: This is the worst global economic crisis in at least 10 years (Great Recession), but more likely 90 years (Great Depression)
From the Human Take: This is the worst global healthcare crisis in at least 40 years (HIV/AIDS) if not in 100 years (Spanish Flu)
From the Digital Health Take: This is the greatest population health opportunity in at least 160 years (Clean Drinking Water), but more likely 220 years (Smallpox Vaccination)
At Nex Cubed, we did not know this would happen, but we have been preparing for this moment since we opened our doors in 2017. This is evident by our ability to run virtual programs at scale across the country, as well as internationally. We pride ourselves on diversity and inclusion, which is evident by over 50% of our portfolio company founders being either female or minority – and we did that BEFORE the current civil unrest started.
As we’ve mentioned in previous blogs, “yesterday’s ‘nice to have’, just became today’s ‘need to have’” in Healthcare. This is why Nex Cubed remains committed to investing in the bleeding edge of Digital Health technology that will shepherd us along into a new Digital Care Continuum.
We do not hold this opinion alone. In fact, the markets agree:
Our commitment to bending the cost curve, improving outcomes, and getting folks back to work safely through the virtualization of care is evident in our most recent class of 2020 Cohort Companies.
It is important to note that Nex Cubed Digital Health received its highest number of applicants across any vertical in the history of Nex Cubed. We believe this is a sign that during a time of unprecedented uncertainty, startup founders are leaning in and turning to experts to show them how to succeed.
The companies below were selected from hundreds of applicants and are uniquely equipped with the tools, resources, and skills required to survive and thrive in our current business environment of chaos and fleeting opportunity. These companies are later stage, having raised nearly $10M prior to the start of the program, with a total cumulative enterprise value of roughly $25M. Furthermore, the leaders of these companies are diverse with ALL being led by either a female, minority, or immigrant founders – each bringing a unique and valuable perspective to the cohort.
care.coach™ is a San Francisco Bay Area tech company funded by private investors, awards from NIH and Congress, and health plan customers across the US. The care.coach Avatar™ appears to individuals as an engaging digital companion, powered by a unique fusion of artificial intelligence with live humans for true conversational intelligence and empathy. The solution builds strong relationships with psychosocially and medically complex individuals, coaches risk-mitigating behaviors, and helps coordinate care through evidence-based protocols. Published outcomes achieved with the care.coach Avatar include reduction of falls and delirium by 80%+ among hospitalized older adults, and reduced hospital, emergency department, and home care utilization among complex individuals living at home (see http://care.coach/publications). Named one of the Top 5 IT Innovations of 2019 by the HealthLeaders IT Spending Guide, one of the Best Healthcare Startups to Watch in 2020 by Healthcare Weekly, and one of the Top 10 Aging in Place Innovations by GuideWell in 2020, care.coach has rapidly deployed pandemic education and self-isolation protocols to support its customers in responding to COVID-19, and is launching care.coach Video Visits™, a provider-led telemedicine solution for key populations lacking access to care.
Rene makes corporate travel a safe and caring experience by providing the tools needed to keep teams safe and healthy on their journeys, integrating tailored insurance, wellness programs, and telemedicine with travel intelligence and duty of care tools.
Healthcentrix offers an end-to-end solution to strengthen patient-provider relationships outside the clinic. Prevvy, our commercial platform, integrates with existing EMRs to deliver multiple virtual care services: distribution of digital care plans for chronic care management, remote patient monitoring, data sharing for care coordination, and HIPAA-compliant video conference and chat for telehealth services. Prevvy offers a single solution to guide and empower patients with their care at home.
Recognized as international healthcare leaders by organizations such as the U.S. State Department, Litesprite is a game platform that helps patients manage and mitigate the effects of behavioral health, cancer, and diabetes. Clinicians rely on our data to help their patients achieve better results. Our clinically validated mental health videogame Sinaprite has validated reimbursement in 4 care-settings and an economic impact of 17 QALY/1000 patients. Sinasprite uses evidence-based treatment methods, including CBT-based and mindfulness strategies, to help people manage stress, anxiety, and depression. Trusted by the chronically ill during their greatest hour of need, we are the only videogame used by payers and clinicians today. Bayer Pharmaceuticals is our most recent investor and partner. We have won +20 global health innovation awards including the first videogame to receive a U.S. Surgeon General Award and are Puget Sound Business Journal’s Innovators of the Year.
Butterflly is a Digital Therapeutics company focused on safe, evidenced-based, highly personalized and de-stigmatized Behavioral Health. Users leverage person-generated data and the therapeutic power of peer groups inside secure social media-styled private networks. Extended services also include coaching and telehealth therapy. In short, Butterflly delivers a flexible and effective Behavioral Health solution, designed to fit into an individual’s busy life when and how they want it.