News

The need for the digital transformation of healthcare continues to grow in importance and there are meaningful opportunities to invest in companies leading that shift. In particular, we believe that technology and technology enabled services can be deployed to transform patients into Informed Connected Healthcare Consumers: individuals that are empowered to make smarter healthcare decisions. These offerings can improve access to care, deliver better outcomes, and provide demonstrable returns on investment for customers and investors.

We are pleased to announce that 7wireVentures has raised our latest investment vehicle, a $217M Growth & Opportunity Fund (GO Fund). The new capital will help our team support high-potential companies from our existing portfolio as they advance to later stages of funding, as well as to invest in other compelling Series B and C companies. The closing of our GO Fund brings the Firm’s AUM to over $500M.

“With several companies in our portfolio sitting at the precipice of tremendous growth, we could not be more pleased to announce the closing of our latest fund,” said Managing Partner, Lee Shapiro. “We have developed a time-tested strategic and tactical playbook that has been proven out across market cycles, in partnership with transformative leaders and founders.” 

Founded over a decade ago by serial entrepreneurs Glen Tullman and Lee Shapiro, 7wireVentures has built a portfolio of over 20 companies. Market strategy, diligence and commercial relationships are driven by 7wire’s Connected Consumer Health Coalition, a group of more than a dozen leading healthcare organizations, together impacting the health and care of millions of Americans.

CONNECTED CONSUMER HEALTH COALITION*

*Not all coalition members are pictured

Joined by Partners Robert Garber and Alyssa Jaffee, 7wireVentures provides a unique array of sector expertise, operational experience, and deep industry relationships that play a pivotal role in enhancing growth across our portfolio. The new capital will build upon our existing mandate to invest in consumer-first, tech-enabled health and care solutions.

“We are excited to announce the successful closing of our new Growth & Opportunity Fund – affirming investors’ continuing belief in our consumer-driven digital health approach,” said Managing Partner, Glen Tullman. “After nearly a decade of success, we are now prepared to double down on some of our fastest growing and most impactful companies while we continue to widen our aperture to exceptional later growth-stage opportunities across the industry.”

We have strengthened our operator-led model, recently adding two new Operating Partners dedicated to helping the portfolio mature more quickly through their experienced guidance and boots-on-the-ground support – Tom Richards, previously SVP and Global Lead of Strategy and Business Development at The Cigna Group, and Dan Michelson, previously CEO of Strata Decision Technology. Alongside Operating Partner David Schonthal, the team boasts decades of experience advising, building, and leading healthcare organizations.

“At 7wire, we invest in companies that transform patients into Informed Connected Health Consumers,” said Robert Garber, Partner of 7wireVentures. “We believe that the combination of technology, information, and appropriately aligned incentives empower consumers to be in the driver’s seat of their healthcare journeys. This enables a stronger healthcare system that supports better outcomes at a lower cost. At the end of the day, it’s about improving the health of all of us as consumers, not as patients.” 

The Firm has already completed three investments out of the GO Fund, including current portfolio company, NOCD, a specialty mental illness company focused on obsessive compulsive disorder, FOLX Health, the market’s first virtual healthcare platform which addresses the needs of the LGBTQIA+ community, and Parsley Health, a specialized virtual clinic designed to help complex chronic patients get better and feel better while reducing total cost of care.

“We are excited to announce our first three GO Fund investments,” noted Alyssa Jaffee, Partner of 7wireVentures. “Part of what motivates us is the unique opportunity in healthcare to do well by doing good, so we invest in companies that have passionate founders who are looking to make a positive change in the world. Ultimately, the Founders and their missions are what we’re backing, and we’re pleased to do so with FOLX, NOCD, Parsley, and more.”