CareSignal Raises Funding From OSF Ventures, UnityPoint Health, Nueterra Capital, And 1984 Ventures

By Dan Anderson • Feb 20, 2020
  • CareSignal announced investments from 4 strategically aligned healthcare technology venture capital funds

CareSignal (previously known as Epharmix) announced investments from 4 strategically aligned healthcare technology venture capital funds. CareSignal is an accessible remote patient monitoring platform that improves payer and provider performance in value-based care as it engages and identifies rising-risk patients.

And two of the investors — OSF Ventures and UnityPoint Health Ventures — are customer-partners that use CareSignal remote patient monitoring and engagement solutions. Plus OSF Ventures is expanding on a previous investment in CareSignal. Nueterra Capital and 1984 Ventures provide a combination of deep technology experience, ties to national healthcare ecosystems, and healthcare operations expertise.

“These investors represent the best-possible capital partners for CareSignal,” said Blake Marggraff, CEO and co-founder of CareSignal. “We’re actively deploying the additional funding toward sales and marketing as we expand nationally to new payer and large provider partners. The expertise, connections and capital from OSF, UnityPoint, Nueterra and 1984 are enabling CareSignal to grow even faster and impact the healthcare stakeholders—customers and patients alike—that have the most to gain.”

OSF Ventures director of venture investments Mayank Taneja pointed out that the venture firm is pleased to continue its financial support of CareSignal.

“As a pioneer in adoption of patient-centric innovative solutions, OSF HealthCare is proud to be a growing customer and partner of the company. Their technology enhances our ability to communicate with our patients and react to their needs. Improved patient outcomes along with a compelling value proposition make this a solution of choice for us,” added Taneja.

Clint Myers, vice president of Nueterra Capital, pointed out that his venture firm has deep experience in healthcare administration, value-oriented health innovations, and digital health startups.

 “Nueterra chose to invest in CareSignal because of the company’s traction with evidence-based solutions adopted by systems across the nation; technology, including defensible intellectual property and an aggressive focus on machine learning; and timing, as the industry shifts to true value-based care,” explained Myers.

1984 Ventures general partner Ramy Adeeb said that his firm focuses on companies using software to solve real-world problems at scale and they could not be more excited about their investment in CareSignal.

“By using technology to prioritize and engage with rising-risk patients in real-time, CareSignal is able to improve outcomes and reduce cost in some of healthcare’s most challenging and expensive areas, including heart failure, hypertension, and diabetes,” stated Farzad Soleimani, MD, MBA, healthcare partner at 1984 Ventures.