Monogram health is a US-based provider of in-home chronic care management services. It has raised significant investments over multiple rounds from major healthcare investors such as CVS Health and Cigna Ventures. This article will analyze Monogram’s major investment rounds, lead investors, total funds raised, as well as use of funds. There will be a focus on major healthcare investment firms that have backed Monogram, in order to understand the key factors attracting investments into chronic care startups like Monogram. Overall, this article aims to provide insights into Monogram’s growth trajectory and business strategy that is enabled by investments.
Monogram completed a $375M Series B+ round in Jan 2023, led by major healthcare corporations
The most recent investment into Monogram Health was a $375 million Series B+ round that closed in January 2023. This round had participation from leading healthcare corporations such as CVS Health, Cigna Ventures, Humana and Memorial Hermann Health System. The funds are mainly used to scale up Monogram’s clinical services and home-based care delivery model. Specifically, Monogram will expand services like complex case and disease management, utilization management, and medication therapy management. This shows that large healthcare corporates see value in Monogram’s tech-enabled chronic care platform and want to tap into the opportunity themselves.
Prior rounds totaling $131M were also led by healthcare specialist investors
Prior to the Series B+ round, Monogram Health had raised $131 million over multiple earlier rounds from healthcare focused investors. The Series B round in 2020 was led by Frist Cressey Ventures. The Series A in 2019 was led by Norwest Venture Partners, which has backed other digital health startups like Doximity, Health Catalyst and Castlight Health. Overall, Monogram has been successful at attracting not only corporate strategic dollars, but also investments from VC firms specialized in healthcare.
Use of funds focused on product development and national expansion
Monogram Health plans to use the new funds from the $375 million round to further develop its platform, which combines remote patient monitoring, risk identification algorithms and physician review. The end goal is to enable at-home management for chronic conditions like kidney disease. The company also plans to expand nationally to service more patients across the country. So while the investments allow Monogram to grow quickly, the company has maintained its focus on improving health outcomes through technology.
In summary, Monogram Health has raised over $500 million to date from major healthcare corporations and VC investors to scale up its chronic care management platform. The investments have supported both product development, as well as national expansion to cover more patients. Monogram’s success at fundraising signals the opportunities in tech-enabled chronic disease management.