Morgenthaler Ventures Announces Winners of the 2012 DC to VC: HIT Startup Showcase

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Beyond Lucid Technologies and Aidin Take Home Awards for Most Venture Back-able Companies in Health IT

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We’re very proud of the entire class of competitors. These are the very best ventures from across the country, and each one is raising the bar in the Health IT industry.

Morgenthaler Ventures, a premier venture capital firm, and Health 2.0, the conference that showcases the leading new technologies in healthcare, today announced the winners of DC to VC’s HIT Startup Showcase, a contest that identifies the promising health IT startups seeking funding. After 12 on-stage presentations in front of leading venture capitalists, angel investors, government officials and entrepreneurs, the judges selected Beyond Lucid Technologies as the winner of the Series A funding category and Aidin as the winner of the Seed Stage category.

“We’re very proud of the entire class of competitors. These are the very best ventures from across the country, and each one is raising the bar in the Health IT industry," said Rebecca Lynn, Partner at Morgenthaler Ventures and head of the firm's health IT investing team. “The finalists are the future of our industry. In particular, for the Series A category, Beyond Lucid Technologies stood out by presenting a comprehensive emergency-response solution that addresses a real pain point and proving traction with paying clients.”

“In the Seed Stage category, Aidin was selected for being ‘the Yelp for post acute care providers’ that integrates directly into the discharge planning workflow,” said Anne DeGheest, Managing Director & Founder, Health Tech Capital. Aidin also won the People’s Choice award through an audience vote.

The Series A People’s Choice winner was CarePlanners.

The 12 finalists of the DC to VC: HIT Startup Showcase were grouped into two categories: companies seeking Series A Venture funding ($2-5M+) or Seed Stage funding. The Seed stage candidates were submitted by the event’s accelerator partners: Rock Health, Blue Print Health, Healthbox and Startup Health.

The winners were hand picked by two independent panels of Venture Capital and Health IT judges for each category and graded using a strict criteria. More information on the criteria can be found here.

Beyond Lucid Technologies offers an electronic health record (EHR) solution for Fire and EMS agencies and industrial-emergency response teams. The company is located in Walnut Creek, California. Aidin, a submission from Blue Print Health, is a hospital discharge solution for social workers and case managers to refer patients to post-acute care providers or to receive care in the home. The company is headquartered in New York City, New York.

"With over 200 applications for the DC to VC Startup Showcase, the pipeline for health IT startups has never been more impressive. This year we saw a lot of interesting themes emerge in the application pool, like companies that are focusing on Big Data and Care Coordination. We also saw companies that were more mature in revenue and customers,” said Missy Krasner, Executive in Residence (EIR) at Morgenthaler Ventures, and former Google Health founding member.

For a full recap of the presentations at DC to VC, please visit: http://www.dctovc.com/news/.

About the Competition

DC to VC was spearheaded in 2010 by Rebecca Lynn of Morgenthaler Ventures to build bridges between Washington, DC policy makers and venture capitalists as well as entrepreneurs focused on Health IT. This year, the contest was organized by Morgenthaler Ventures and Health 2.0 and opened to any U.S. based entrepreneur looking to raise Series A or Seed capital for their health IT startup. Applications were judged by a pre-selection round of judges that included:

●    Rebecca Lynn, Partner, Morgenthaler Ventures
●    Missy Krasner, Executive in Residence, (EIR), Morgenthaler Ventures
●    Matthew Holt, Co-Chairman, Health 2.0
●    Michelle Snyder, Executive in Residence (EIR), Interwest Partners
●    Christina LaMontagne, Principal, Physic Ventures
●    Adam Dole, Business Planning Manager, Mayo Clinic
●    Sanjay Shah, Program Officer, Innovations for the Underserved, California Healthcare Foundation
●    Adam Schlifke, M.D. at Kaiser Permanente & Investor, Health Tech Capital
●    JC Simbana, Director, Accelerator Program, Silicon Valley Bank (SVB)

Series A candidates needed to have a product or prototype in the market, show some proof that pilot customers or clients were using it, and were seeking approximately $2M to $5M+ in venture capital. Seed stage candidates had to be submitted through accelerator partners and be actively looking for a Seed round of funding.

Series A Judges include:

●    Rebecca Lynn, Partner, Morgenthaler Ventures
●    Michael Yang, Managing Director, Silicon Valley Office, Comcast Ventures
●    Andy Donner, Partner, Physic Ventures
●    Nina Kjellson, Partner, Interwest Partners
●    Lisa Suennen, Managing Member, Psilos
●    Marty Felsenthal Partner, HLM Partners

Seed Stage Judges include:

●    Bob Kocher, Partner, Venrock
●    Margaret Laws, Director, Innovations for Underserved Program, California Healthcare Foundation
●    Anne DeGheest, Managing Director & Founder, Health Tech Capital
●    Jack Young, Managing Director, Qualcomm Life Fund, Qualcomm Ventures
●    Tom Rodgers, Partner, Cambia Health
●    JC Simbana, Director, Accelerator Program, Silicon Valley Bank (SVB)

The other Series A Finalists were:

GSI Health delivers workflow, care coordination apps and health information exchange (HIE) solutions for hospitals that manage patients across the care continuum and outside the enterprise (Phila, PA).

CarePlanners helps consumers navigate the healthcare system via a new diagnosis, treatment research, insurance issues, healthcare bills, or elder care services (New York, NY).

Starling Health offers a bedside communication system for hospitals for patient interaction at the point of care, empowering patients and providers with the right collaboration tools to improve outcomes and streamline the nurse triage and communication process (New York, NY).

AgeTak unleashes big data in healthcare from dispersed data silos in real-time based on consent from the true owner of the data. It offers privacy-protecting big-data solutions for analytics in healthcare (Hopkins, MN).

HeathLoop offers an automated patient follow-up solution that tracks patient recovery and improves outcomes by engaging patients with their doctor between visits (San Francisco, CA).

Comprisma (special candidate) makes health insurances markets healthier by providing risk markets for health insurers to share risk with one another, reducing the uncertainty and volatility in aggregate policy experience (Washington, D.C.).

The “Honorable Mention” that did not officially compete is:

NudgeRX reduces unplanned hospital admissions by providing daily, web-based recovery monitoring and guidance for patients and caregivers (Seattle, WA).

The other Seed Stage finalists were:

Nephosity (submission from Rock Heath) an iPad viewer app and cloud server that enables collaborative access to medical images, anywhere, anytime (San Francisco, CA).

Force Therapeutics a physical therapy platform for both consumers and physical therapists that leverages telehealth to help deliver mobile care in real time (New York, NY). When they applied, they were raising a Seed Stage round, they are now expanding into a Series A round.

United Preference (submission from Healthbox) offers flexible payment architectures on an easy-to-administer credit card platform for the delivery of employee and health plan incentives that help drive healthy behavior (Chicago, IL). When they applied, they were raising a Seed Stage round, they are now expanding into a Series A round due to client activity over the summer.

Capture Proof (special candidate) captures, shares and compares patient images for easy analysis by doctors who want to monitor their patient’s health and physical healing over time (Los Angeles, CA).

The “Honorable Mentions” that did not officially compete are:

Genomera (submission from Rock Health, inaugural class) a crowdsourcing health discovery service that helps any consumer create group health studies or clinical trials using social networking (San Francisco, CA).

Cara Health (submission from Healthbox, inaugural class) uses language analytics and machine learning algorithms to calculate risk of unplanned adverse events based on live conversations with patients who are reporting their health status with care managers at call centers (Chicago, IL).

About Morgenthaler Ventures

Morgenthaler Ventures is a premier venture capital firm, dedicated to helping entrepreneurs build valuable companies for more than 40 years. Morgenthaler has invested in more than 300 companies in the information technology and life science sectors. Past and present portfolio companies in the IT space include: Doximity, Practice Fusion, Evernote, Siri, Lending Club, Apple and NEXTEL. Representative life science companies include: Ardian, IPC – The Hospitalist Company, OncoMed, Catalyst Biosciences, Transcend, and GlobeImmune. Morgenthaler has offices in Menlo Park, CA, Boston, MA and Boulder, CO.http://www.morgenthaler.com.

About Health 2.0

The conference. The media network. The innovation community. The Health 2.0 Conference is the leading showcase of cutting-edge innovation transforming the healthcare system. Since its beginning in 2007, Health 2.0 has served as a community resource for search and online tools to help consumers manage their health and connect to providers. Now that the industry has caught up, Health 2.0 covers the entire cloud, web, mobile and unplatforms technology revolution that is shaking up every sector of health care. For more, visit http://www.health2con.com.

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