Wednesday, April 17, 2024
HomeFunding NYC-based Salvo Health Secures $5Million in Seed Prime Funding

[Funding alert] NYC-based Salvo Health Secures $5Million in Seed Prime Funding

NYC-based Salvo Health secures $5million in seed prime funding. This round was led by City Light Capital and Human Ventures to expand deployment of its wraparound GI care at providers including gastroenterology private practices, health systems, and ACOs.

NYC-based Salvo Health secures $5million in seed prime funding. This round was led by City Light Capital and Human Ventures to expand deployment of its wraparound GI care at providers including gastroenterology private practices, health systems, and ACOs.

The financing included investment pro rata from all three of Salvo’s original Seed investors: Threshold Ventures, Torch Capital, and Felicis Ventures, as well as angel investors such as Anmol Madan, founder of Ginger Health and former Chief Data Scientist at Teladoc.

Salvo also announced that Rachel Parlier of City Light and Emily Melton of Threshold will join the Board of Directors, alongside Jeffrey Glueck, the Founder & CEO of Salvo. Parlier helped lead City Light investments in innovators such as Bicycle Health and Spark Pediatrics.

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Melton, managing director and co-founder of Threshold, is a recent past Chair of the Board of the National Venture Capital Association (NVCA) and has led investments in Livongo, Brightline, Imagen, Tia, and Viz.ai. Glueck, who launched Salvo in 2021, formerly served as CEO of Foursquare and as product leader and Chief Marketing Officer at Travelocity.

Rachel Parlier of City Light Capital said, “I am delighted to lead this investment in Salvo Health and their innovative wraparound care for GI and metabolic chronic conditions, As an early-stage impact investor, we look for companies with the potential to not just transform industries, but also to improve lives. Salvo is enabling GI practices and health systems to fill in the gaps for underserved patient populations, especially for high-touch follow-on care between appointments and post-procedures.”

Heather Hartnett, General Partner at Human Ventures, said, “An estimated 70 million Americans are suffering from chronic gastrointestinal conditions that can cause serious disruptions to daily life, The growing need for GI care has surpassed the supply of specialists, and Salvo Health plays an important role in filling this gap. We’re thrilled to be backing such an experienced, data-driven, and product-focused team led by Jeff, that is poised to scale significant clinical outcomes.”

Salvo Health focuses on enabling local providers across the country to provide “wraparound care” for chronic GI and metabolic liver conditions in a hybrid approach. Patients remain under the care of their trusted local physician, adding the best of Salvo telehealth and app-based daily support for follow-on care.

Salvo helps solve staff shortages and clinician burnout by enabling insurance-covered, evidence-based, interdisciplinary care including Salvo’s teams of licensed nurses, registered dietitians, and behavioral health specialists.

Salvo enables providers to bill RPM and CCM codes for both Medicare and commercial patients where such codes are broadly covered, thereby improving patient outcomes and generating new ancillary service revenue for practices.

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This positions large practices and systems on the path to value-based care arrangements, including shared savings and quality incentives. The model also frees busy providers to see more acute cases and more new patients by enabling patients to access daily support from their team at Salvo.

Salvo has won deals with GI practices from Brooklyn to Pennsylvania to Virginia, and with a large health system in Baton Rouge, LA. This financing will fund staff-up to execute on these enterprise deployments, and expand sales and marketing to new customers.

Salvo Health as a technology company has invested deeply in addressing the shortage of licensed care providers by using software and automation so that each care team member can support more patients effectively.

For Salvo patients today, two thirds of care minutes each month are delivered by software and app-based content, while one third of minutes provided by licensed personnel, letting care teams focus on the highest leverage uses of their time.

About Salvo Health

Salvo Health makes it possible for medical professionals who treat long-term gastrointestinal and metabolic liver diseases to transition from providing sporadic appointments to continuous “wraparound care” in their practices and hospital units.

Salvo enables clinicians to provide interdisciplinary follow-up treatment while maintaining patient supervision under the direction of their physician. These providers include GI private practices, primary care population health ACOs, and health systems.

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