Cadence raises $41 million in funding led by General Catalyst and Thrive Capital; Establishes founding partnership with LifePoint Health
NEW YORK–(BUSINESS WIRE)–Health tech company Cadence today announced its launch with $41 million in funding led by General Catalyst and Thrive Capital. Cadence has built a breakthrough remote care management platform that will deliver better care to people managing chronic conditions at scale.
“With care expanding outside of the hospital and into the home, Cadence is assuring the management of chronic conditions is a simple, empowering, everyday event for our patients,” said Chris Altchek, CEO and Founder, Cadence. “Better data and expanded clinical support will give more patients access to world-class care, no matter where they are.”
By collecting and analyzing its patients’ vitals, medical history, and wellness data from the comfort of their home, Cadence creates personalized, real-time responsiveness previously unheard of in disease management. And as patient data is collected and synthesized, Cadence’s Care in Sync™ platform uses machine learning to continuously improve.
Hemant Taneja, Managing Partner at General Catalyst and a co-founder of Livongo, and Kareem Zaki, General Partner at Thrive and a co-founder of Cedar, have joined Cadence’s board of directors. Additional capital has come from investors and founders who have built transformational healthcare businesses including Adam Boehler, Chelsea Clinton (Metrodora Ventures), and Martin Ventures.
The company was founded by Chris Altchek and Kareem Zaki. Its founding team is made up of technologists, clinicians and healthcare professionals including Dr. Theodore Feldman, MD, FACC, FACP, as Chief Medical Officer; Eric Hauser as CTO, previously at Salesforce; Ryan Keith as Partnerships Lead, previously with HCA Healthcare; Susan Mackin as Head of Care Delivery, previously with Landmark; Vikram Singh as Head of Product, previously with Glooko; and Chip Stine as Business Operations Lead, previously with Oscar.
“We were inspired by Cadence’s mission to deliver world class care outside the four walls of a hospital,” says Hemant Taneja, Managing Partner of General Catalyst. “They are stepping in to fill a huge gap in the care ecosystem—finding a new solution for conditions that are too hard for patients to treat alone at home, and those that are too costly and complex for hospitals to manage at scale. Their solution takes us a step further in realizing the promise of health assurance—which is all about better care experiences, improved outcomes and bending the cost curve.”
In conjunction with its launch, Cadence has forged a founding partnership with leading national healthcare company, LifePoint Health. Once it is fully operationalized across LifePoint’s facilities, the partnership will deliver remote care to over 100,000 people living with chronic conditions across the United States. LifePoint and Cadence are initially focused on increasing adherence to Guideline Directed Medical Therapy (GDMT) treatment for heart failure patients in a single market, with the aim of building the largest remote care platform for heart failure patients in the country.
“Our partnership with Cadence is an exciting step forward in bringing new capabilities for our providers to better support their chronic care patients and advance our mission of Making Communities Healthier,” said Christopher Rehm, M.D., senior vice president and chief medical officer of LifePoint Health. “LifePoint is committed to investing in technology-enabled solutions that improve quality, access and outcomes, and we’re thrilled to begin offering remote patient monitoring to people who are managing chronic conditions. We look forward to expanding access to care by combining Cadence’s innovative technology with clinical excellence to help LifePoint deliver a consistent, personal and high quality care experience.”
For LifePoint and its national health system partners, Cadence delivers improved clinical outcomes with its proprietary technology, Care in Sync™. This creates a more robust partnership with clinical staff, allowing for better management of chronic conditions like heart failure, COPD, Type 2 diabetes, and hypertension.
For more information on Cadence, or to explore if it’s the right partner for you, please visit www.cadence.care.
Cadence is a pioneering health technology company helping the nation’s largest health systems deliver world-class care outside of the four walls of the hospital. Cadence’s Care in Sync™ platform couples powerful new technology with clinical excellence, providing its patients a precise and personal level of care through remote patient monitoring. More information about the company can be found at www.cadence.care.
Press Contact: Caitlyn Durcan, [email protected]