Strategic Limited Partners include leading health plans, providers, employers, and life sciences companies
7wireVentures, a leading digital health venture capital firm, announced the close of their latest Connected Consumer Fund, raising $150M. Founded over a decade ago by serial healthcare entrepreneurs, Glen Tullman and Lee Shapiro, 7wireVentures has a successful track record of investing in and hatching many consumer focused digital health companies.
Managing Partners Glen Tullman and Lee Shapiro have worked together for more than 30 years across more than 25 successful companies and are joined by Partners Robert Garber and Alyssa Jaffee, and Operating Partner David Schonthal. 7wireVentures has invested in many consumer digital health companies that played key roles in helping the United States manage through the pandemic. Notably, 7wireVentures was the first investor in Livongo, founded by Glen Tullman, and exited late last year in what was the largest digital health transaction in history, merging with Teladoc Health (NYSE: TDOC) in a transaction valued at $18.5 billion.
Tullman and Shapiro first joined forces leading Allscripts as Chief Executive Officer and President, respectively. In 2013, they decided to apply their expertise to invest in technology-enabled solutions that empower an Informed Connected Healthcare Consumer – the epicenter of a consumer-first, tech-enabled convergence of the health and care markets.
“The U.S. healthcare system today is fundamentally broken, characterized by unsustainable spending now exceeding $3 trillion dollars annually, and misalignment between payers, health systems, employers, and ultimately consumers,” commented Lee Shapiro. “Individuals are bearing the burden of the fragmented and disparate system and face enormous obstacles in accessing high quality care. These challenges provide an unprecedented opportunity to apply technology and drive innovation to address these systemic problems. Our newest 7wireVentures fund will allow our firm to grow companies that enable a superior consumer-directed health and care experience and address the problems of healthcare.”
7wireVentures has built close relationships with leading sponsors of healthcare – health plans, providers, self-insured employers, and life sciences companies. Its base of limited partners includes representation from all of these important segments.
The firm has already put its capital to work in two new investments including Transcarent, a new and different health and care experience that puts people in charge of their own care, and Jasper Health, a smart navigation and care platform to help improve the lives of consumers with a cancer diagnosis.