TRANSFORMATION CAPITAL — Full Portfolio

Arbital Health provides a platform for managing value-based care (VBC) contracts, unifying claims, utilization, benchmark, and contract data with actuarial tools, predictive models, and a conversational "Actuarial AI" for real-time performance monitoring and risk analysis.

AI & Machine LearningDigital HealthHealthtechSan Francisco, US

Brian Overstreet(Co-founder)inTravis May(Co-founder)in

BoardScott Rosen(Director)inIan Duncan(Director)

Co-investorsHealthy VenturesFlex Capital PartnersUnderdog Labs

Cleo is a family care platform offered as an employer benefit, providing personalized caregiving support across life stages including parenting, mental health, cancer, chronic conditions, and elder care.

Digital HealthHR TechWellness & FitnessSan Francisco, US

Chitra Akileswaran(Co-Founder & Chief Medical Officer)Madhavi Vemireddy(CEO (as of 2025-2026); previously Chief Clinical Officer)Sarahjane Sacchetti(Former CEO)Tyler Hoersch(Chief Technology Officer)

BoardKarin Ajmani(Director / Board Member)

Co-investorsGreylock PartnersNew Enterprise Associates (NEA)Felicis VenturesForerunner VenturesGlynn Capital ManagementIngeborg Investments+5 more

Aktana provides a real-time orchestration platform for pharmaceutical marketing that coordinates digital and field engagement across channels to reach healthcare professionals at optimal times.

AI & Machine LearningEnterprise SoftwareSales TechSan Francisco, US

David J. Ehrlich(Executive Officer, Director)Derek Choy(Executive Officer, Director)Jin Huang(Executive Officer)Rob Willson(Executive Officer)Marc-david Cohen(Executive Officer)

BoardAnthony Glenning(Director)

Board seatJared Kesselheim· per SEC Form D

Co-investorsHLM Venture PartnersNorwest Venture PartnersStarfish VenturesUpfront VenturesB4 Capital

New York, US

Adeyanju Ademiluyi(Executive Officer, Director)Adunola Akanni(Executive Officer, Director)

BoardAmish Jani(Director)in

Board seatTodd Cozzens· per SEC Form D · $40M raise · filed Feb 2026

Co-investorsFirstMark Capital

Solana Beach, US

Kevin Lustig(Executive Officer, Director)Andrew Martin(Executive Officer, Director)

BoardParker Hinshaw(Director)Paul Stone(Director)

Board seatJared Kesselheim· per SEC Form D · $6M raise · filed Dec 2022

New York, US

Board seatJared Kesselheim· per SEC Form D · $232.9M raise · filed Sep 2025

Co-investorsB4 CapitalEdison PartnersGeneral Catalyst

Sacramento, US

Owen Wurzbacher(Director)Jared Kesselheim(Director)Stephen Montalto(Executive Officer)Brandon Atkinson(Executive Officer, Director)William Hartfield Patterson, Jr.(Director)Jacob Zipfel(Executive Officer)

Board seatJared Kesselheim· per SEC Form D · $21.2M raise · filed Jul 2025

CodaMetrix operates an AI-based contextual coding automation platform that converts clinical data and chargeable activities into billable, clinical, and demographic medical codes for hospitals and health systems.

AI & Machine LearningDigital HealthHealthtechBoston, US

Hamid Tabatabaie(Director, Executive Officer, Promoter)Mark Pottle(Executive Officer)Jim Whelan(Mr. Whelan is the Chief Revenue Officer of the Issuer.)Kevin Schmitt(Mr. Schmitt is the Chief Engineering Officer of the Issuer.)Jay Aslam(Mr. Aslam is the Chief Data Science Officer of the Issuer.)Tara Bradley(Executive Officer)

Board seatTodd Cozzens· per SEC Form D

Co-investorsCU Healthcare Innovation FundFrist Cressey VenturesMartin VenturesSignalFireMass General Brigham Ventures

DexCare provides patient access and scheduling navigation logic for health systems, enabling patients to find available appointments across multiple care entry points and improving utilization of existing capacity.

HealthtechSaaSPhiladelphia, US

Board seatTodd Cozzens· per SEC Form D

Co-investorsFrist Cressey VenturesKaiser Permanente VenturesSPRINGROCK VENTURESDefine Ventures

HQC Holdings, renamed Health Catalyst in 2017, supplies data and analytics software and services to healthcare organizations.

Salt Lake City, US

Jeffrey P. Selander(Executive Officer)Brent Dover(Executive Officer)Daniel D. Burton(Executive Officer, Director)

BoardPromod Haque(Director)

Board seatTodd CozzensMichael Dixon· per SEC Form D · $50M raise · filed Sep 2020

Co-investorsSorenson Ventures

Tebra provides an integrated electronic health record and medical billing platform for independent healthcare practices, including EHR tools, claims management, patient payments, and scheduling capabilities.

Digital HealthEnterprise SoftwareHealthtechSaaSIrvine, US

DANIEL RODRIGUES(Executive Officer, Director)JIM LIM(Director)PERRY WALLACK(Director)MICHAEL MATLY(Director)ROB REID(Director)DAVID COZZENS(Director)

Board seatTodd Cozzens· per SEC Form D · $25M raise · filed Jul 2022

Co-investorsEscalate Capital PartnersOpenView Venture PartnersSilver Lake Partners

HealthtechBurlington, US

Jeffrey DeFlavio(Director)Colleen Nicewicz(Executive Officer, Director)Matthew Taylor(Executive Officer)

BoardNancy Brown(Director)Steve Kraus(Director)

Board seatJared Kesselheim· per SEC Form D · $60M raise · filed May 2021

Co-investorsRRE LeadersRRE Ventures

Alaffia invests in and partners with African communities on development projects focused on education, maternal health, and environmental sustainability.

ConsumerImpact & Social Good

Olowo-n'djo Tchala(Founder)in

Co-investorsNew VoicesOssian CapitalTwine Ventures1984 Ventures Management, LlcAperture Venture CapitalFirstMark Capital+3 more

Annexus Health provides tech-enabled software and services, including its AssistPoint platform, that help healthcare organizations, infusion centers, specialty pharmacies, life science companies, and charitable foundations connect patients with financial assistance and access resources.

Digital HealthHealthtechSaaSCranberry Township, US

Brad Frazier(Founder)

Co-investorsCencora Ventures

CareRev operates a platform connecting healthcare facilities with nursing professionals to address medical staffing challenges.

B2B MarketplacesHealthtechHR TechMarketplacesRemote, US

William Patterson(Founder/CEO)inSofia Pessanha(Founder/COO)in

Co-investorsFundersClubY Combinator

Certify, now rebranded as Emburse Professional, provides configurable travel, invoice, and expense management software with automated expense reporting and spend controls.

Enterprise SoftwareFintechSaaSPortland, US

Robert Neveu(Manager and President)Alan Neveu(Manager and Chief Technology Officer)

BoardStephen Johnson(Manager)William Benedict(Manager)John Bailey(Manager)

Co-investorsCEI VenturesTeamworthy VenturesGeneral CatalystUpfront Ventures

Datavant operates a health data collaboration platform and data network that connects, protects, and activates patient-level data across the U.S. healthcare ecosystem.

AI & Machine LearningData & InfrastructureDigital Health

Co-investorsFlex Capital PartnersGrand VenturesHealth Catalyst CapitalSixth StreetTensility Venture Partners

GROW Inc provides a technology platform and services for superannuation funds, offering product distribution, member online portals, and operational automation.

Enterprise SoftwareFintechSaaS

John(Chief Executive Officer)Adam(Chief Strategy Officer)James(Chief Financial Officer)Sarah(Chief Transformation Officer)Claudia(Chief Technology Officer)Glenna(Chief Superannuation Operations Officer)

Co-investorsAirTree VenturesHitachi VenturesBCIMenlo VenturesSignalFireTCV

Grow offers a no-code business intelligence platform that combines ETL, data warehousing, visualization, and alerts, letting teams connect and blend data from 100+ sources and build dashboards and KPI metrics without SQL.

Data & InfrastructureEnterprise SoftwareSaaS

Co-investorsKickstartToba CapitalBCIMenlo VenturesSignalFireTCV

Grow Therapy provides online mental health therapy services designed to be more accessible, affordable, and user-friendly than traditional therapy.

B2B MarketplacesHealthtechMental HealthSaaS

Jake Cooper(Founder & CEO)inManoj Kanagaraj(Cofounder)Manoj Kanagaraj, MD(Founder)inAlan Ni(Founder)in

Co-investorsBCICold Start VenturesEvio VCMenlo VenturesPLUS CapitalReshape+6 more

Headspace is a mental health app that delivers personalized support through meditation, mindfulness, AI-powered guidance, coaching, therapy, and psychiatry services for individuals and organizations worldwide.

Digital HealthHealthtechMental HealthWellness & FitnessSanta Monica, US

Andy(Co-founder)Richard Marsh Pierson(Executive Officer, Director)Andrew David Puddicombe(Executive Officer, Director)Sean Brecker(Executive Officer)in

BoardScott Kriens(Director)

Co-investorsAdvance Venture PartnersBessemer Venture PartnersBreyer CapitalCity LightEniac VenturesFlucas Ventures+10 more

IntelyCare operates a healthcare talent marketplace that connects nurses with care settings including hospitals, clinics, and other healthcare facilities.

B2B MarketplacesFuture of WorkHealthtechHR TechQuincy, US

Ike Nnah(Executive Officer, Director)David Coppins(Executive Officer, Director)Prince Nnah(Director)

Co-investorsEastward Capital PartnersEndeavour VisionEquitage Ventures, L.L.C.Generator VenturesKaiser Permanente VenturesLongitude Capital+1 more

Jeenie operates a Direct-To-Interpreter platform that instantly matches clients with remote human interpreters for on-demand video and audio language interpretation, available 24/7.

Digital HealthMarketplacesSaaS

Co-investorsCity Light

Judi Health provides technology for pharmacy and medical benefit administration, including a pass-through pharmacy benefit manager (Judi Rx), unified health benefit administration, and an enterprise health platform (Judi) for managing claims, benefits, and operations.

Digital HealthHealthtechSaaS

Co-investorsEdison PartnersEmerald Development ManagersGeneral Catalyst9Yards Capital

Ketryx builds a software platform for developing and validating regulated AI and safety-critical software, helping MedTech, biotech, and life sciences companies meet standards such as ISO 13485, IEC 62304, and ISO 14971.

AI & Machine LearningDigital HealthEnterprise SoftwareMedical DevicesSaaSSomerville, US

Erez Kaminsky(President)Jan Poschko(Director)Erez Kaminski(CEO & Founder)Jan Pöschko(CTO & Founder)Mary Brook Delano(Chief Business Officer)Brian Katzman(Chief Marketing Officer)

Co-investorsLightspeed Venture PartnersThe E14 FundE14 Limited PartnershipUbiquity Ventures

Kyruus Health provides a healthcare access platform that unifies provider and member data to help patients find, schedule, and access care.

Digital HealthHealthtechSaaSBoston, US

Graham Gardner(Executive Officer, Director)Julie Yoo(Executive Officer, Director)Graham Gardner, MD, MBA(Founder)in

BoardRobert Paull(Director)Robert Higgins(Director)Bryan Roberts(Director)

Co-investorsFrancisco PartnersVenrockHighland Capital PartnersLux CapitalNew Leaf Venture PartnersVenrock Associates

Latent builds software to optimize the prescription fulfillment process for health systems, enabling faster access to medications for patients.

AI & Machine LearningDigital HealthEnterprise SoftwareHealthtechInsurTechSan Francisco, US

Rishabh Jain(Co-founder)inSri Somasundaram(Founder)inSriram Somasundaram(Co-founder)in

Co-investorsConvictionMcKesson VenturesSpark CapitalY CombinatorGeneral Catalyst

LetsGetChecked provides at-home healthcare including lab testing, virtual consultations, and prescription fulfillment, backed by its own manufacturing, logistics, and lab analysis infrastructure plus proprietary clinical and analytics software.

Digital HealthHealthtechMedical DevicesDublin, IE

Dr. Robert Mordkin(Chief Medical Officer)Oonagh O'Brien(Chief Executive Officer)Ronan Ryan(Chief Operations Officer)Mike Tesar(Chief Technology Officer)Michael Rummel(Chief Laboratory Officer)

Co-investorsFlucas VenturesK2 HealthVenturesOak HC/FTOptum Ventures

LightForce develops generative braces using artificial intelligence and 3D printing technology to create individualized orthodontic appliances tailored to each patient.

Advanced ManufacturingAI & Machine LearningHardwareHealthtechMedical DevicesBoston, US

Co-investorsKleiner PerkinsAM VenturesDIAMatrixMatter Venture PartnersOmega Venture Partners

Local Infusion operates modern infusion therapy centers with private suites and an AI-driven platform that coordinates care and manages prior authorizations for patients and referring physicians.

AI & Machine LearningDigital HealthHealthtechAustin, US

BoardMatthew Wenger(Director)

Co-investorsMeridian Street Capital

Memora Health develops a conversational AI assistant for healthcare that handles routine patient messages and triages complex clinical concerns to care teams.

AI & Machine LearningDigital HealthHealthtechSan Francisco, US

Manav Sevak(Founder/CEO)inNisarg Patel(Founder/CPO)inKunaal Naik(Founder/CTO)in

Co-investorsAndreessen HorowitzDorm RoomShrug CapitalY CombinatorAlleyCorpFrist Cressey Ventures

Nayya operates an AI-powered platform that integrates health and financial data from multiple sources to help employees manage their benefits and personal well-being.

AI & Machine LearningEnterprise SoftwareHealthtechHR TechNew York, US

Sina Chehrazi(Founder & CEO)Akash Magoon(Executive Officer, Director)Sina C.(Founder)in

BoardCaroline Xie(Director)Victoria Treyger(Director)in

Co-investorsADP VenturesBow CapitalCameron VenturesEarl Grey CapitalEntrepreneurs Roundtable Accelerator (ERA)Felicis Ventures+9 more

Nira Medical partners with neurology physician practices to provide comprehensive care, bringing ancillary services such as infusion, clinical research, and imaging together under one roof.

Digital HealthHealthtech

Co-investorsSilversmith Capital PartnersSV Health Investors

Norstella provides life-sciences data, real-world data, predictive analytics, and AI-driven tools that support pharmaceutical, medtech, and clinical research organizations across the drug development lifecycle, from pipeline to patient.

AI & Machine LearningData & InfrastructureHealthtech

Co-investorsWarburg PincusWCAS

Parachute Health operates a shared digital network that connects healthcare providers, suppliers, and payors to order and deliver home medical equipment, replacing manual fax and phone workflows with clean, complete, and trackable orders.

Digital HealthHealthtechSaaSNew York, US

David Gelbard(Founder & CEO)inLee Perlman(Member of Board of Managers)Peter Segall(Member of Board of Managers)Anthony Welters(Member of Board of Managers)Trevor Nelson(Member of Board of Managers)

Co-investorsAlumni VenturesBasecamp FundInsight PartnersJMI EquityLeft Lane Capital

PatientPing connects patient behavioral and physical health data across providers, health plans, and government agencies to automate care coordination and reduce unnecessary utilization.

Digital HealthEnterprise SoftwareHealthtechBoston, US

Jay Desai(Executive Officer, Director)Jeff Smith(CEO, Bamboo Health)

BoardJon Lim(Director)inKrishna Yeshwant(Director)in

Co-investorsAndreessen HorowitzF-Prime CapitalGV (Google Ventures)

PlushCare is a telehealth service that connects patients with board-certified primary care doctors and therapists through an app for virtual appointments, prescriptions, and ongoing care.

Digital HealthHealthtechMental HealthSan Francisco, US

James Wantuck(Co-founder)Ryan McQuaid(Co-founder)James Wantuck, MD(Founder)in

BoardJeff Richards(Director)in

Co-investorsFounders Circle CapitalMoonshots CapitalNotable CapitalGranite AsiaLightspeed Venture Partners

Bluesight (formerly Protenus) provides AI-powered software for hospital pharmacy and compliance teams, covering RFID inventory tracking, drug diversion surveillance, purchasing optimization, 340B compliance, drug shortage management, and patient privacy monitoring.

AI & Machine LearningDigital HealthEnterprise SoftwareHealthtechBaltimore, US

Nicholas Culbertson(Executive Officer, Director)Harry Totonis(Director)Michele Kang(Director)

BoardRobert Lord(Executive Officer, Director)in

Co-investorsF-Prime CapitalKaiser Permanente VenturesKube VCLionBirdTCP Venture Capital

Qualified Health AI provides AI infrastructure and governance solutions for health systems to deploy generative AI safely and deliver measurable value across clinical, operational, and financial workflows.

AI & Machine LearningDigital HealthHealthtechSan Carlos, US

Justin Norden(Founder & CEO)inKedar Mate(Co-Founder & Chief Medical Officer)inShantanu PhatakwalainBeau Norgeotin

BoardSooah Cho(Director)inMohamad Makhzoumi(Director)in

Co-investorsHealthier CapitalCathay InnovationFlare Capital PartnersFrist Cressey VenturesGreatPoint VenturesMenlo Ventures+2 more

Security platform generating behavioral fingerprints to detect zero-day attacks across software supply chain and cloud infrastructure.

Co-investorsCheyenne VenturesGula Tech Adventures.406 Ventures

Rad AI develops generative AI models and automation solutions specifically designed for radiology and healthcare workflows.

AI & Machine LearningEnterprise SoftwareHealthtechMedical DevicesSan Francisco, US

Dr. Jeff Chang(Co-founder)inDoktor Gurson(Co-founder)in

BoardStuart Peterson(Director)inBruce Armstrong(Director)in

Co-investorsAlpha PartnersArray Ventures Management LlcArtis VenturesCity LightCorewell Health VenturesFifty Years+9 more

RapidSOS operates a safety network that connects public safety agencies, enterprises, and consumer/corporate devices to provide critical context and pre-arrival intelligence to emergency responders and 911 dispatchers.

AI & Machine LearningEnterprise SoftwareGovTechNew York, US

Nicholas Horelik(Executive Officer)Michael Martin(Executive Officer, Director)

BoardDan Nova(Director)Matthew Bozik(Director)

Co-investorsAcrew CapitalAlumni VenturesAvanta VenturesBasecamp FundCity LightDorm Room+11 more

SmarterDx provides a clinical AI platform that helps hospitals and health systems improve documentation, coding, and revenue cycle management by accurately capturing the complexity of patient care.

AI & Machine LearningEnterprise SoftwareHealthtechMedical DevicesNew York, US

Michael Gao, MD(CEO and Co-founder)Josh(Co-founder and Chief Product Officer)Joshua Geleris(Executive Officer, Director)Michael Gao(Executive Officer, Director)Parimal(Chief Clinical Officer)

Co-investorsBessemer Venture PartnersEast Post Road VenturesFlare Capital PartnersFloodgateSwitch VenturesVirtue Ventures

Solstice connects households and businesses to local solar farms through a software platform that qualifies subscribers based on energy needs rather than credit scores, enabling bill savings through solar credits.

CleantechClimate TechEnergySaaSBoston, US

Sandhya Murali(Co-founder)Steph Speirs(Co-founder)

Co-investorsAmerican Family Insurance Institute for Corporate and Social ImpactDorm RoomSE VenturesTechstarsTrue Wealth VenturesFord Street Ventures+3 more

Virgílio ("V") Bento(Founder)in

Co-investorsArmilar Venture PartnersDraycottEarl Grey CapitalFaberFounders FundHakluyt Capital+6 more

Digital healthcare technology company formed by the merger of Kareo and PatientPop.

Co-investorsMontreux Equity PartnersStripes

Optimizing fertility lab workflow by 87%

Unite Us provides software and data infrastructure for coordinating whole-person care, helping organizations identify social and health needs, deliver services, and track outcomes.

Digital HealthGovTechSaaSNew York, US

Daniel M. Brillman(Executive Officer)Taylor Justice(Co-Founder and Chief Executive Officer)

Co-investorsBlossom Street VenturesEqual Opportunity VenturesICONIQOak HC/FTOptum VenturesPLUS Capital+6 more

World Class Health operates a Center of Excellence platform that coordinates specialty surgical and procedural care for self-insured employers.

Digital HealthEnterprise SoftwareHealthtechMedical DevicesNew York City, US

Siddharth Nambiar(Founder)

Co-investorsAlleyCorpCity LightLifeX VenturesAlley Robotics Ventures