CVS Health Ventures Among Investors in Strive Health’s Series C Funding

June 1, 2023
Denver-based company says $166 million in new funding will allow it to scale up its kidney care business and refine its value-based care model

Denver-based Strive Health has raised $166 million in Series C funding to scale up its kidney care business by expanding into new markets, investing in its existing payer, health system, nephrologist and medical group partnerships and refining its clinical value-based care model.

This funding round was led by NEA alongside five new investors, including CVS Health Ventures. Additional investments from all previous investors – CapitalG (Alphabet), Echo Ventures, Town Hall Ventures, Ascension Ventures and Redpoint – completed the round.

As of May 2023, Strive serves 80,000 CKD and ESKD patients across 30 states, partners with over 600 nephrology providers across 10 states and manages over $2.5 billion of annual medical spend. The company says its value-based care approach to kidney disease has led to over 20 percent reduction in the total cost of kidney care, 42 percent reduction in hospitalizations and 94 percent overall patient satisfaction with Strive’s staff. With this funding, Strive said it would expand partnerships with commercial and Medicare Advantage payers, Medicare, health systems and physicians.

“Since our founding, we’ve strongly believed that we must meaningfully change the standard of kidney care so people with kidney disease can have better access to care regardless of their socioeconomic background,” said Chris Riopelle, CEO and co-founder of Strive, in a statement. “With the help of our investor partners, this capital raise will propel us further along in our journey to transform kidney care.”

"Strive's focus on value-based care aligns with CVS Health’s strategy to address the challenges within the U.S. health care system. Their differentiated approach has improved health outcomes for patients and driven success for all their customers, including their more than 600 nephrology partners," said Vijay Patel, managing partner of CVS Health Ventures, in a statement.

Sponsored Recommendations

Trailblazing Technologies: Looking at the Top Technologies for the Emerging U.S. Healthcare System

Register for the first session of the Healthcare Innovation Spotlight Series today to learn more about 'Healthcare's New Promise: Generative AI', the latest technology that is...

Data: The Bedrock of Digital Engagement

Join us on March 21st to discover how data serves as the cornerstone of digital engagement in healthcare. Learn from Frederick Health's transformative journey and gain practical...

Northeast Georgia Health System: Scaling Digital Transformation in a Competitive Market

Find out how Northeast Georgia Health System (NGHS) enabled digital access to achieve new patient acquisition goals in Georgia's highly competitive healthcare market.

2023 Care Access Benchmark Report for Healthcare Organizations

To manage growing consumer expectations and shrinking staff resources, forward-thinking healthcare organizations have adopted digital strategies, but recent research shows that...