Nest Health, the first value-based whole-family healthcare provider, announced it has raised over $4 million in an extended seed funding round. SpringTide led the funding round, which was supported by additional sources, including Alumni Ventures, Ochsner Ventures, and more.
Nest Health aims to make comprehensive healthcare accessible to the most vulnerable populations. This announcement follows a $15 million initial Seed Round in March 2023 led by 8VC and the Blue Venture Fund, with support from MVP, Health 2047, and Gaingels. This additional funding round will be used to expand Nest Health’s reach to health plans and new markets.
Launched in 2021, Nest Health is the first value-based healthcare practice built for families. And Nest provides parents and children with convenient and compassionate primary care through house calls, virtual care, and 24/7 medical, behavioral, and social support. Since being founded, Nest Health’s services have become accessible at no additional cost to thousands of families covered by Medicaid in the greater New Orleans region.
The company’s integrated care delivery team offers families with various services, including primary care at home and online; a 24/7 Nest nurse line for support and advice; evening and weekend availability; check-ups and well visits; sick visits; vaccinations; mental health support; nutrition support; education and coaching; chronic condition management; and specialty care.
This funding round marks a significant milestone in Medicaid innovation. With $800 billion of annual spend, Medicaid covers over 80 million people. However, it remains an untapped market for privately funded solutions, resulting in only $1.6 billion annually in VC investments. But compared to Medicare Advantage, a program covering 31 million people with half the national spending as Medicaid, Medicare Advantage investments surpasses $21.1 billion annually in venture capital.
KEY QUOTES:
“Greater reach allows Nest to meaningfully change the health not only of families we serve, but of populations as a whole. Families eat together, experience addiction together, and experience poverty and poor health together. Treating an individual alone, particularly for high-and-rising-risk caregivers, ignores this reality and ultimately leads to poor health outcomes for the family. Treating the family as a unit, when and where it’s convenient for them, at home, has the power to radically improve access to quality healthcare for families, in Louisiana and beyond.”
- Nest Health founder and CEO Dr. Rebekah Gee
“We’re thrilled to support Nest and their mission to make whole-family care radically accessible. This investment signals a much-needed change to support innovations delivering care to our country’s most vulnerable populations. Nest is the first to design home-based care for families and we couldn’t be more excited to be a part of this critical stage of growth for the company and the industry.”
- SpringTide partner Brad Otto
