Series C financing was led by IVP and includes existing investors
MENLO PARK, Calif.–(BUSINESS WIRE)–May 26, 2021–
Hello Heart, the best-in-class heart health digital therapeutics solution, has completed a $45 million Series C led by IVP. IVP is a top later-stage partner for hypergrowth companies including Coinbase, Lyra Health, Slack, Snap, Twitter, and UiPath, and is one of the strongest growth funds in the world with more than 120 IPOs. Hello Heart’s existing investors, including Khosla Ventures, BlueRun Ventures, Maven Ventures, and Resolute Ventures also participated in the round. In conjunction with the financing, Somesh Dash, General Partner at IVP, will join Hello Heart’s Board of Directors.
Hello Heart’s mission is to empower people to manage and improve their heart health using digital technology. The company’s flagship solution helps people manage their blood pressure, pulse, medications, and activity using AI-based technology. Users track key health metrics, receive personalized feedback, and take steps to improve their health with clinically proven suggestions, all through the convenience of their smartphone. Hello Heart’s solution enables users to quickly identify a hypertensive crisis or irregular heartbeat, facilitating a timely referral to their doctor to treat and prevent a potentially catastrophic cardiac event.
The company has tripled its business over the last year, with its program being offered by large enterprise companies, including many Fortune 500 employers, as part of their benefits programs. Hello Heart is the only digital therapeutic hypertension solution with a peer-reviewed clinical study on blood pressure outcomes. It has been recognized for hypertension management by the American Heart Association and, after a thorough clinical and security review, CVS Health added Hello Heart to its prestigious Point Solutions Management platform.
“Whether you’re dealing with a preexisting health condition or consider yourself healthy, Hello Heart’s offering can truly save your life,” said Somesh Dash, General Partner at IVP. “The market for heart disease is large and adoption of digital solutions is accelerating quickly. Hello Heart has an opportunity to become the digital therapeutics leader for all cardiovascular diseases and we’re excited to partner with them on their growth phase.”
“Hypertension is the most prevalent chronic condition in America, impacting roughly half the US population,” noted Parsa Saljoughian, Partner at IVP. “Given the opportunity to improve millions of lives and save billions of dollars in healthcare spend, we couldn’t be more thrilled to support the Hello Heart team on the road ahead.”
In a retrospective peer-reviewed study performed by researchers from UCLA and Harvard Medical School, 70% of users reduced their blood pressure and the average decrease of systolic blood pressure was 22 mmHg. These clinical results are over 2x higher than any other results published in a peer-reviewed, clinical study.
Dr. Eyal Zimlichman, Harvard Medical School Faculty Research associate and Chief Medical Officer of Sheba Medical Center, led the research. “Delivering clinical outcomes at the scale of population health requires strong patient engagement across a variety of patient types. Hello Heart’s ability to drive engagement is what led to these unprecedented results,” explains Dr. Zimlichman.
Maayan Cohen, CEO of Hello Heart explains the company’s growth plans, “Our mission is to empower people to understand and improve their health using technology, and we’re very proud to help them do it effectively in heart health – the #1 cause of death in the world. We’re in an exciting growth phase and this investment will allow us to rapidly scale our teams and technology, continuing to build on our leadership position in digital therapeutics for cardiovascular disease.”
About Hello Heart
Hello Heart’s mission is to empower people to understand and improve their health using technology. It is improving the way patients manage and understand their heart health and enables them to catch risk in time and avoid catastrophic events from the comfort of their home. The company developed a clinically-based smartphone solution used by dozens of F500 companies which offer Hello Heart to their employees. Founded in 2013, the company cultivated a great company culture with an amazing team, driven to change the way patients address their health. Visit www.helloheart.com for more information.
Founded in 1980, IVP is one of the premier later-stage venture capital and growth equity firms in the United States. The firm has invested in over 400 companies with 120 IPOs. IVP is one of the top-performing firms in the industry and has a 40-year IRR of 43.1%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. IVP investments include such notable companies as AppDynamics (CSCO), Attentive, Brex, Coinbase (COIN), Compass (COMP), CrowdStrike (CRWD), Datadog (DDOG), Discord, Dropbox (DBX), GitHub (MSFT), Glossier, Grammarly, HashiCorp, Hims & Hers (HIMS), Hopin, Klarna, LegalZoom, Looker (GOOGL), Marketo (MKTO), MasterClass, Mindbody (Vista), MuleSoft (CRM), Netflix (NFLX), Niantic, Podium, Robinhood, Rubrik, Slack (WORK), Snap (SNAP), Supercell (Tencent), Tanium, Twitter (TWTR), UiPath (PATH), Wise, ZipRecruiter, and Zynga (ZNGA). For more information, visit www.ivp.com or follow IVP on Twitter: @ivp.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.