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

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DC to VC Joins Up with Health 2.0 to Present Venture Back-able Companies in Health IT; Jeff Tangney, CEO of Doximity, and Former Congressman Patrick Murphy to Speak

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Morgenthaler Ventures, a premier venture capital firm, Health 2.0, the conference that showcases the leading new technologies in healthcare, announced today the 13 finalists for their nation-wide contest to find the most promising health IT startups looking for Seed and Series A funding. The 13 company founders will present in front of leading venture capitalists, angel investors, government officials and entrepreneurs on the last day of the annual Health 2.0 conference on October 10, 2012 in San Francisco, CA. Attendees will also hear from Jeff Tangney, CEO of Doximity and founder of Epocrates on building health IT startups and former Congressman Patrick J. Murphy on the upcoming implementation of healthcare reform.

"I started this conference three years ago, when we invested in Practice Fusion, because the emerging opportunities in Health IT were still relatively ignored for investors in Silicon Valley," said Rebecca Lynn, Partner at Morgenthaler Ventures and head of the firm's health IT investing team. “Since then, we have seen an explosion in the space. We are proud to welcome Jeff Tangney, CEO of Doximity, to our investment portfolio as he has a long track record in health IT and will have many lessons to share with the young entrepreneurs who are just starting out in the room.”

This year, the contest held open applications for Series A venture back-able health IT companies. The Seed stage candidates were submitted by accelerator partners: Rock Health, Blue Print Health, Healthbox and Startup Health.

"The pipeline for health IT startups has never been more full thanks to our accelerator partners who are pushing tech entrepreneurs into the space,” said Missy Krasner, Executive in Residence (EIR) at Morgenthaler Ventures and former Google Health founding member. “We received over 140 applications this year and many aligned with the areas in the industry we mapped out for our own investing thesis at Morgenthaler. Because of that, it was difficult for our pre-selection judges to narrow down the finalist list and that is why we have some honorable mentions this year too.”

The Finalists
The 13 finalists of the DC to VC: HIT Startup Showcase are grouped into two categories: companies seeking Series A Venture funding ($2-5M+) or Seed Stage funding. They include:

Series A Finalists:

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 (Philadelphia, PA) http://gsihealth.com/.

Beyond Lucid Technologies offers a pre-hospital records or electronic health record - type (EHR) solution for ambulance providers, medics and first responders (Walnut Creek, CA) http://beyondlucid.com/.

CarePlanners is a platform that enables a nationwide network of careplanners to help patients and caregivers better navigate their individual and ongoing experiences with the healthcare system using a combination of personal services and online tools (New York, NY) http://careplanners.com/.

Starling Health offers an intuitive, touchscreen bedside communication system for hospitals to improve patient interaction at the point of care and help streamline the nurse triage and communication process (New York, NY) http://starlinghealth.com/.

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) http://www.agetak.com.

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) http://healthloop.com/.

Comprisma (special candidate) makes health insurance 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.) http://comprisma.com/.

The “Honorable Mention” that is considered a finalist but will not officially compete is:

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

Seed-Stage Finalists:

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

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

United Preference (submission from Healthbox) offers flexible payment architectures on an easy-to-administer card platform for the delivery of employee and health plan incentives that help drive healthy behavior (Chicago, IL) http://unitedpreference.com/. When they applied, they were raising a Seed Stage round, and they are now expanding into a Series A round due to client activity over the summer which now makes their programs responsible for 200K lives nationally.

Aidin (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 (Nashville, TN) http://myaidin.com/.

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) http://www.captureproof.com/temp/captureproof.html.

The “Honorable Mentions” that are considered finalists but will not officially compete are:

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

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) http://cara-health.com/.

About the Competition
Organized by Morgenthaler Ventures and Health 2.0, the contest was open 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. The full judging criteria can be found on the event Website.

The finalists will present in front of the following judges at the event on October 10, 2012:

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 Juges include:
●    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
●    Ross Fubini, Advisor, Partner, Kapor Capital
●    JC Simbana, Director, Accelerator Program, Silicon Valley Bank (SVB)

Each finalist will be paired with an industry mentor to help them prepare for the final pitch event on October 10, 2012. View the full list of 20 industry mentors on the Website.

Getting the Scoop on Healthcare Reform: 2014 and Beyond
Morgenthaler Ventures and Health 2.0 are pleased to welcome a series of policy and government experts to this year’s DC to VC event to help educate the audience on upcoming legislative changes that may impact the investing landscape in this space. Patrick J. Murphy, Former U.S. Congressman, Pennsylvania’s 8th Congressional District (D) will be discussing the Affordable Care Act and Claudia Williams, Senior Advisor on Health IT at the White House will be talking about health information exchange (HIE) and Meaningful Use attestation.

The DC to VC policy session will take place from 9 - 10 a.m. on October 10th, followed immediately by the health IT startup pitch contest.

Sponsors & Partners
We are grateful to our sponsors: Dell Healthcare & Life Sciences, WCG Agency and Gunderson Dettmer law firm for sponsoring DC to VC this year. We are also happy to be partnering with: Silicon Valley Bank (SVB), Health Tech Capital, University of Berkeley, Haas Business School/Hacking Heath, Rock Health, Blue Print Health, Healthbox, and Startup Health.

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. For more, visit 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 health2con.com.

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John Robert Reed
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