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	<title>VentureBeat &#187; insurance providers</title>
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		<title>Led by a 23-year-old, digital health startup Audax Health nets $21M</title>
		<link>http://venturebeat.com/2013/01/17/led-by-a-23-year-old-digital-health-startup-audax-health-nets-21m/</link>
		<comments>http://venturebeat.com/2013/01/17/led-by-a-23-year-old-digital-health-startup-audax-health-nets-21m/#comments</comments>
		<pubDate>Fri, 18 Jan 2013 00:27:21 +0000</pubDate>
		<dc:creator>Christina Farr</dc:creator>
				<category><![CDATA[Big Data]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Deals]]></category>
		<category><![CDATA[Enterprise]]></category>
		<category><![CDATA[Health]]></category>
		<category><![CDATA[digital health]]></category>
		<category><![CDATA[funding]]></category>
		<category><![CDATA[health]]></category>
		<category><![CDATA[insurance providers]]></category>
		<category><![CDATA[med tech]]></category>

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		<description><![CDATA[<p>In the first weeks of 2013, healthcare technology startups are already closing some major funding rounds. The latest to benefit from Sand Hill Road's burgeoning interest in the space is a D.C. based company called Audax Health, which raised almost $21 million, according to an SEC&#160;filing.</p>
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				<content:encoded><![CDATA[<p><a href="http://venturebeat.com/2012/12/10/second-market-health-tech/healthtech/" rel="attachment wp-att-587562"><img class="alignleft size-full wp-image-587562" alt="healthtech" src="http://venturebeat.files.wordpress.com/2012/12/healthtech.jpg?w=655&#038;h=437" width="655" height="437" /></a></p>
<p>In the first weeks of 2013, health care technology startups are already closing some major funding rounds. The latest to benefit from Sand Hill Road&#8217;s burgeoning interest in the sector is a Washington D.C. based company called Audax Health, which raised almost $21 million, according to an SEC filing.</p>
<p>Backed by former Apple CEO John Sculley, Audax works with insurance companies like Cigna to help consumers devise online personalized health plans. Users earn points and rewards for eating well and exercising regularly. Its flagship product is <a href="http://www.audaxhealth.com/about-us-2/careverge/" target="_blank">Zensey</a>, which combines gamification tactics, social networking, and secure medical data sharing.</p>
<div id="attachment_606674" class="wp-caption alignleft" style="width: 234px"><a href="http://venturebeat.com/2013/01/17/led-by-a-23-year-old-digital-health-startup-audax-health-nets-21m/grant-verstandig-audax-health/" rel="attachment wp-att-606674"><img class=" wp-image-606674  " alt="Grant Verstandig, CEO of Audax Health" src="http://venturebeat.files.wordpress.com/2013/01/grant-verstandig-audax-health.jpg?w=224&#038;h=168" width="224" height="168" /></a><p class="wp-caption-text">Grant Verstandig, CEO of Audax Health</p></div>
<p>The startup was founded in 2010 by 23-year-old college dropout Grant Verstandig. The idea came about when Verstandig, a lacrosse player and student at Brown University, experienced a succession of injuries. During his recovery, he discovered that he could find few resources online that provided an easy, personalized, and social patient experience.</p>
<p><a href="http://www.forbes.com/sites/zinamoukheiber/2012/03/15/diary-of-a-22-year-old-health-technology-entrepreneur/" target="_blank">Verstandig revealed in <em>Forbes</em></a> that he subsequently dropped out, moved to D.C., and pursued his dream to bring &#8220;social networking and customization to health care, in a way that protected personal privacy.&#8221;</p>
<p>The funding is an impressive effort from such a young founder. Eight of the companies&#8217; heavyweight directors are named on the SEC filing, including Sculley, former National Cancer Institute Director Richard Klausner, and John Rowe of Columbia University&#8217;s Mailman School of Public Health.</p>
<p>The Washington Business Journal reports that this is part of a larger $45 million fundraising effort. The company raised funds in a mix of debt, options and other securities.</p>
<br />Filed under: <a href='http://venturebeat.com/category/big-data/'>Big Data</a>, <a href='http://venturebeat.com/category/business/'>Business</a>, <a href='http://venturebeat.com/category/deals/'>Deals</a>, <a href='http://venturebeat.com/category/enterprise/'>Enterprise</a>, <a href='http://venturebeat.com/category/health/'>Health</a>  <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=venturebeat.com&#038;blog=342986&#038;post=606668&#038;subd=venturebeat&#038;ref=&#038;feed=1" width="1" height="1" /><div class="post-meta-blurb post-meta-after blurb-cat-health"><hr />

<a href="http://venturebeat.com/events/healthbeat2013/" data-vb-ga-outbound="HB2013boilerplate"><img class="size-full wp-image-616711 alignleft" alt="HealthBeat 2013" src="http://venturebeat.files.wordpress.com/2013/02/vb_healthbeat2013_logo_boilerplate.png" width="196" height="22" /></a> HealthBeat 2013 is a new conference showcasing how technology is transforming health care. We'll explore how IT is driving out inefficiencies on the hospital, practice, and patient levels. Check out full event details <a href="http://venturebeat.com/events/healthbeat2013/">here</a>, and register <a href="http://healthbeat2013-hb2013boilerplatebottom.eventbrite.com" target="_blank">here</a>.

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