Pager raises $70M for care coordination; Nomad scores $63M and more digital health fundings

Also: NOCD scooped up $33 million for digital OCD treatment, and NEX raised $25 million for its interactive fitness and motion entertainment tech.
By Emily Olsen
11:37 am

Photo: Kwancha Lerttanapunyaporn/EyeEm/Getty Images

Virtual care collaboration and navigation tool Pager announced it raised $70 million in an equity and debt financing round. The Series C round was led by Susquehanna Private Equity Investments. Silicon Valley Bank provided debt financing. 

Pager said the capital will be used to increase the platform’s capacity, make improvements and expand to new markets worldwide, including ones in the U.S. and Latin America.

"The COVID-19 pandemic has been a catalyst for accelerated growth of virtual care solutions and has sparked a growing demand for health plans and health systems to offer proven, next-generation digital health platforms like Pager.

"Our latest fundraising round further validates the meaningful value that virtual care provides and how we improve care access and health outcomes while lowering costs," CEO and chairman Walter Jin said in a statement.

"Pager's rapid growth to more than 15 million members under contract, along with the execution of our largest funding round to date, is proof that our platform is successfully addressing client and consumer needs in the evolving healthcare market."

In March 2020, Pager raised another $33 million in equity and debt financing. The company said its total raise was $120 million. 

Nomad Health, an online job portal for temporary healthcare workers, raised $63 million in new equity and debt financing. Nomad said the funds will be used to hire more employees, invest in its platform and grow nationally.

Adams Street Partners led the round with participation from existing investors including Icon Ventures, Polaris Partners, RRE Ventures, .406 Ventures, First Round Capital and Silicon Valley Bank.

The company also announced two hires for its executive team. Kim Howard will serve as chief client officer, and Jeff Simon joins as vice president of product. Howard came to Nomad from healthcare staffing firm AMN Healthcare, and Simon most recently worked at Indeed.

Staffing shortages have plagued some hospitals during the COVID-19 pandemic, increasing the cost of travel nurses. In early September, the American Nurses Association sent a letter to HHS asking the agency to declare the nursing shortage a national crisis. 

Nomad said the transactions on its marketplace have grown sevenfold since the beginning of the pandemic in February 2020. 

“Our work has never felt more important or more rewarding,” CEO and cofounder Dr. Alexi Gharib Nazem said in a statement.

“Since the beginning of the pandemic, Nomad has been able to move at lightning speed to connect clinicians with hospitals that desperately need staff. In that time, Nomad has sent clinicians to take care of over one million patients in all 50 states. We are truly fulfilling our mission of removing the obstacles between providers and their patients.”

Digital obsessive-compulsive disorder treatment NOCD closed a $33 million Series B funding round Tuesday. 

The round was led by F-Prime Capital with participation from Eight Roads Ventures and Kaiser Permanente Ventures, along with existing investors including 7wireVentures, Health Enterprise Partners (HEP) and Chicago Ventures.

The company will use the money to expand its user base, reach people who need treatment earlier and add additional services to treat other conditions and mood disorders that often occur with OCD.  Its work with Eight Roads Ventures will help NOCD expand its presence abroad. 

“The behavioral health treatment system needs a new digital front door that meets the needs of consumers with severe conditions on their terms, where they are. Telehealth is an important solution for people that do not feel comfortable seeking treatment for stigmatized issues outside of their home. NOCD offers a frictionless, effective therapy experience that addresses their unmet needs and helps them regain hope in life,” Stephen Smith, CEO and founder of NOCD, said in a statement. 

NOCD closed a $4 million Series A in 2019 and $1 million in seed funding in 2018. 

Interactive fitness and motion entertainment startup NEX raised $25 million in Series B funding and launched its Active Arcade app, a collection of mobile motion games. 

The round was led by Blue Pool Capital and Samsung Ventures. Other investors include actor Simu Liu, soccer coach and former player Thierry Henry, Los Angeles Dodger Albert Pujols, the WNBA’s Sabrina Ionescu, YouTube cofounder Steven Chen and WordPress cofounder Matt Mullenweg as well as SparkLabs Global Capital and Hyphen Capital.

“A pandemic drew even more attention to the already huge and growing problem of more sedentary lifestyles across the world,” David Lee, CEO and cofounder of NEX, told TechCrunch.

“Having fun while moving is one of the purest definitions of play. But unlike the old days, the standard of engagement for active play must be on par with the best video games. It was apparent to us that accessible motion-based entertainment was the answer to a global need for more physical activity.”

Pearl Health, which aims to help primary care providers succeed in Medicare’s Direct Contracting pay model, announced it had raised $18 million in Series A funding.

The round was led by Vineeta Agarwala at Andreessen Horowitz with participation from AlleyCorp and Kevin Ryan.

“At Pearl, we are focused on each individual physician and how we can empower them to care for their patients more directly and efficiently. We are starting in Medicare, generating a simple per-member-per-month payment structure for each of our Partner Doctors to free them to prioritize prevention, and focus on the patients that need care at each moment in time,” wrote CEO Michael Kopko in a blog post on the funding announcement.

“This structure also reorients our physician partners around a win-win-win opportunity for patients, physicians and our healthcare system: They receive savings proportional to their individual performance, if they can improve health outcomes and efficiently manage a global budget for the care of their patients.”

Chapter, which helps beneficiaries choose and enroll in Medicare plans, announced it had raised $17 million in a Series A funding round.

The round was led by Narya Capital with participation from Susa Ventures, Maverick Ventures, XYZ Venture Capital, Core Innovation Capital and Health2047 Capital Partners. Billionaire investor Peter Thiel joined the company’s board of directors. 

The company will use the funds to speed product development, hire engineers and advisors, and continue investing in its platform. 

"Most Americans navigate Medicare alone or unintentionally use resources that limit their options. Medicare coverage is too important to get wrong: Signing up too late can result in lifetime penalties. Furthermore, plans have such significant differences in benefits and premiums that it’s critical to search every single option.

"Unlike traditional resources, Chapter searches every plan at a unique level of granularity. As a result, we help our members save thousands of dollars so they can retire on their own terms," Chapter CEO Cobi Blumenfeld-Gantz said in a statement.

Seven Starling, a platform that provides educational content, group support and access to doulas during pregnancy and early parenthood, announced its launch with $2.9 million in seed funding.

The round was led by Pear VC, Expa and Magnify Ventures.

"Our goal is for parents to feel empowered during pregnancy and early parenthood. New and expectant parents often feel isolated and overwhelmed, even more so during the pandemic. Seven Starling offers parents access to doulas and peers who quickly become invaluable partners in the pregnancy and parenting journey. The results are more meaningful connections and better maternal health outcomes," Tina Beilinson, CEO and cofounder of Seven Starling, said in a statement.