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Can Data Fix Healthcare?
Not alone, but you may be able to make a lot of progress with the right data in the right hands. And the startup we are talking about today is fine.
Exchange caught Terry myerson And Lisa Gurry This week, Truveta’s CEO and CMO, a young company that wants to collect oodles of data from healthcare providers, anonymizes it, collects it and makes it available to third parties for research.
This is a big task, but the team behind Truveta has experience with large projects. Myerson is best known for his time, bottoming out at the top of the Microsoft org chart, where he plays things you may have heard of, such as Windows. Gurry was a leader inside the org, recently working on a strategy for the Microsoft Store product.
But now he is in a HealthTech data company. how did this happen? After leaving Microsoft, Myerson worked with Madron, a Seattle-area venture capital firm and the Carlyle Group, a large investment group for private equity. A few years later, several former Microsoft colleagues were injured at healthcare giant Providence. When they were locking in the United States for the first time, they arrived at Myerson all around. The former Microsoft exec agreed to participate in some calls, but did not formally join them as he was stuck at home.
During that time he came to know that Providence had put together a white paper concerning the idea that Trivetta would form, collecting data from healthcare providers to use it with datasets of sufficient size and diversity to take advantage of all kinds of research May be allowed. Myerson stuck to the concept, the company later found. He then called some former colleagues, including Gurri, to help build it.
Truveta has about 50 people today and will be around 100 this year.
Questions abound in your head, I’m sure. Things are still early in Truveta, but the company announced last week that it had signed up 14 healthcare providers to help with its data targets. Those firms are also investors in the company (Myerson has also held capital).
I was curious about the company’s business plan. According to Myerson, Truveta will depend on the different rates it wants to access its data. As you can imagine, commercial entities will pay a different price than an independent researcher.
The next data for Truveta is getting more, locking its internal data schema, collecting feedback from researchers and, later, approaching commercial reach.
Healthcare in the US is uneven – something that Trueveta’s pair of executives emphasized during our call – thus giving the company a huge market to reform and make it less racist and sexist.
It was a bit strange to talk to Myerson and Gurry about their startup. In the past, I talked to him about some of Microsoft’s biggest platforms. Let’s see how fast they can replace TrueVeta with an idea I can’t help but dig into, for a company that is a viable business concern. And then how big can they make it.
A lot has happened in the last few days that we did not get. For example, Aiden’s earnings. European payment platform reported H2 revenue of € 379.4 million, up 28% compared to half a year earlier. And from this it reported an EBITDA of € 236.8 million. Who said that fintech cannot be profitable? (Note: Aiden’s results are a must read if you care about Stripe’s valuation and future public offerings.)
And there were some rounds that also fell with our fingers. CloudTalk’s recent $ 7.3 million Series A. The Slovakia-based startup raised $ 1.6 million seed round in 2019. The startup, as its name suggests, provides cloud telephony services to call centers.
We suspected that CloudTalk had a very good year for global growth in remote work in 2020. Did it. In an email, CloudTalk stated that it has not looked “zoom-like” [growth] The figures exceed “but that demand for its services in 2020” [its] Expectations. ”Which helps explain its latest phase.
The exchange was also curious if the company had an outlook about subscription pricing versus consumption pricing, which was a growing topic among software dorks as themselves (to come up with notes from Appian, Fastley and others next week ). According to the company, CloudTalk makes it a hybrid company “from the standpoint of pricing”, for seats and for use. CloudTalk called its pricing setup “a good balance for both parties because customers want to know what they are going to pay ahead of time.”
This is a startup to keep in mind. As is Zview, there is a globally themed financial world working expats with the help of Nabank. I couldn’t get it, but ClearTips wrote it. more here.
And if you don’t have time to watch TV during work then talk about Robinhood for the last few days. Enjoyed a Congressional hearing this week, which was mostly sluggish except for a few notes on the business model of most fintech giants.
Finally, it was a busy week for the crowded startup, Niche. There was more money for OKR startups, which led to our question about VCs investing capital in related companies in the future. Publix also raised several hundred million dollars. Because why not. And the low-code player OutSystem raised $ 150 million to exclude the group. It was one hell of a week.
Various and varied
I’ll leave you with some data points. First, that the clubhouse metrics are finally beginning to match the hype around the product. People are appearing in totals, furthering its total download statistics More than 10 million digits.
And in the news that I missed, Substack crosses 500,000 subscriber count. that’s impressive!
And to close, a Chicago-based, home-focused Insurtech startup, called Kin, crossed the $ 10 billion “total insured property value” mark this week. The exchange arrived, asking the company about its economics. After all, if you are selling dollars for 50-cent pieces, it is not difficult to run premium volumes.
Ruth Awadh from the company responded that her company has a “loss rate of 53% and our gross margin is 32%.” not bad at all. Given how quickly Insurtech has gone from experimentation to public-success, Pari is a company to keep an eye on.
Wrapping, please make sure to support your local heavy metal band this weekend,