Jumpstart Foundry Announces Second Round of 2020 Portfolio Selections Including 5 Companies Nationwide
Jumpstart Foundry has announced its second round of 2020 portfolio selections. The Fall 2020 selection of portfolio companies consists of 5 healthcare startups chosen from a pool of more than 200 applicants, which brings the total number of seed-stage investments to 108 for the TN firm.
Ranked as one of the most active venture capital investors in Tennessee, Jumpstart Foundry annually makes 20-25 standard investments of $150,000 via convertible SAFE notes into innovative companies in the health space. These companies are expected to have a tremendous impact in the health domain while driving strong financial returns for Jumpstart’s investors.
“We received a record number of applications this year and were able to be incredibly selective in our approach,” said Eller Mallchok, Jumpstart Foundry’s Managing Director. “Of course, I was pleased with the quantity of applications, but the quality was also impressive. There is no lack of supply of healthcare innovation, and Jumpstart is here to help them grow”.
The Jumpstart Foundry Fall 2020 cohort of portfolio companies include various novel healthcare applications such as malnutrition diagnosis, behavioral health solutions, AI-powered labor management, and care management. The companies include Butterflly Health, Patient Forecaster, Telopoint, RevKeep, and Junum.
Butterflly Health
Butterflly is a Digital Therapeutics Company focused on Behavioral Health for underserved populations. Butterffly Health leverages the therapeutic power of peer groups using social media-styled tools inside secure private networks while offering tools for well-being including mindfulness, Culturally Competent Cognitive Behavioral Therapy, coaching, and teletherapy. They deliver a patient-focused experience that is safe, evidenced-based, highly personalized, de-stigmatized, and designed to fit into a person’s life when and how they want it.
Patient Forecaster
Patient Forecaster offers an AI-powered precision staffing platform. The breakthrough technology offers emergency department and urgent care center leaders’ greater predictability of patient volumes, bed capacity, hospital admissions and staff scheduling. Better predictability allows for tighter alignment of staffing with patient demand, thus lowering the overall cost of care. It also improves the joy of work for providers as they are better matched to serve the needs of patients and their families.
Patient Forecaster’s precision staffing platform uses machine learning and proprietary predictive algorithms to analyze hundreds of internal and external data points relevant to the daily operations of an individual emergency department or urgent care center. The latest release now includes historical and forecasted regional COVID-19 and Flu data combined with existing data such as weather, holidays, sporting events, and air quality.
By incorporating these new data sets, Patient Forecaster’s precision staffing platform eliminates the frustrations that administrators currently face due to unforeseen fluctuations in hourly patient volumes and available bed capacity. The platform’s proprietary algorithm forecasts daily patient volumes and hourly bed occupancy – these are then used to build staff schedules with greater than 90% accuracy rate. Customized alerts also allow health system leaders to take immediate action to maximize patient care efficiencies.
Telopoint
TeloPoint was founded in August 2019 by a team with over 100 years of combined healthcare experience with the mission of making the dream of in-home care delivery a profitable reality. Beginning with the problem of patients not following through with prescribed blood tests, the team created a platform that accommodates all stakeholders and handles all steps of the specimen collection process from prescribing the tests to delivering the specimens for analysis. TeloPoint automates communications between patients, phlebotomists, and client organizations; data validation; and phlebotomy logistics while providing an unmatched HIPAA-compliant patient experience.
RevKeep
RevKeep software helps healthcare providers control post-payment medical audits (i.e. RAC audits, MAC audits, ZPIC referrals, private insurance audits, etc.). The platform helps providers retain more of the money they earned for clinical services previously provided. RevKeep is considered by the RAC Monitor (the industry’s foremost news source) to be a provider’s defense in fighting and managing recovery audits.
RevKeep takes the complex process of documentation and critical deadlines, and streamlines it so: deadlines aren’t missed; the documentation submitted is complete; more money is retained by the HCP, and both scaling and corporate oversight (including across multiple campuses) is accomplished. By utilizing Artificial Intelligence the user not only saves time, but has a better chance of “winning” an audit.
Junum
Junum applies expertise in healthcare IT and clinical nutrition to uncover gaps in malnutrition care and create dramatic results—generating new revenue for hospitals while improving patient outcomes.
Junum’s flagship product, Malnutrition CDS™ addresses the highly complex, often overlooked problem of malnutrition care that costs the US $157 Billion each year. Their tools integrate seamlessly with Epic and Cerner and combine industry best practices for malnutrition with customized workflows to improve care coordination, unlock capabilities in documentation, and increase reimbursement for malnourished patients in the acute-care setting. Users are physicians and the customer is hospitals.
All five companies will participate in a virtual onboarding orientation to connect with Jumpstart’s network of industry experts and will be indoctrinated into The Jumpstart Refinery, Jumpstart’s exclusive digital community, designed to connect the Jumpstart Foundry network and support growth acceleration.
“It has been an interesting and exciting year to be in venture capital – particularly in healthcare innovation. We are excited to welcome these new companies from diverse backgrounds across the country into the Jumpstart Foundry family,” said Jumpstart Foundry COO Dr. Brian Dougherty.
In a time of great uncertainty, Jumpstart Foundry remains committed to making investments that support healthcare innovation. The Nashville-based venture capital firm is excited to MAKE SOMETHING BETTER in health as they prepare to deploy more capital in 2021.
About Jumpstart Foundry:
Jumpstart Foundry is a seed-stage healthcare innovation fund with one goal: Make Something Better. Jumpstart Foundry invests $150K in 15-20 healthcare startups from around the country each year. Jumpstart then guides and supports entrepreneurs through a systemized, step-by-step process to help each business reach success. The JSF fund has over 100 companies in its portfolio and was reported as Tennessee’s most active venture capital firm in January 2020 by CB Insights.
For questions or additional information, please contact:
Richard Amoako
Content Marketing Manager | Jumpstart Foundry
richard@jsf.co
423-676-5282
Meet Our New Portfolio Companies in the Jumpstart Refinery
On Thursday, December 17, The Jumpstart Foundry team will introduce and welcome the newest members of our 2020 portfolio in the Jumpstart Refinery. You will have the opportunity to meet and interact with the founders.