SpringTide Ventures Announces the Close of $65 Million Fund II
April 17 2024 - 9:15AM
Business Wire
The new capital will accelerate investments in startups with a
clear path to elevating health outcomes on a global scale
SpringTide Ventures, a leader in early-stage HealthTech venture
capital, today announced the successful close of its Fund II at $65
million, bringing its total assets under management to over $100
million. This new fund underscores the firm’s continued commitment
to driving innovation and elevating health globally through
investments in digital health, medical devices, life sciences, and
tech-enabled care delivery.
"Fund II presents an exciting opportunity to deepen our impact
on human health by partnering with entrepreneurs who are positively
disrupting healthcare," said Austin Walters, Managing Partner at
SpringTide Ventures. “This milestone is not just a reflection of
our past successes but a testament to the commitment of our team,
partners and founders to bring transformative solutions to market
that enhance patient care, improve outcomes, and expand access to
quality care."
Noteworthy achievements from SpringTide Ventures’ portfolio
include:
- GreatExpectations.io: The world’s leading data quality
tooling company recently surpassed a rate of over 15 million
downloads per month.
- Pathology Watch: An end-to-end dermatopathology software
platform, including AI interpretation; acquired by Sonic Healthcare
in January 2024 for $150 million.
- Debut Biotech: A leading cell-free
biomanufacturing company that launched its own skin care product
line in 2023 and raised a $20 million Series B led by L’Oreal.
- OpenLoop: An end-to-end telemedicine enablement
company surpassed $100 million in annualized revenues in early
2024.
"We are so proud of the extraordinary achievements of our
current founders and partners and are inspired by their commitment
to grow and scale," added Walters. "As we venture into this new
chapter, our resolve is stronger than ever to support entrepreneurs
in challenging the status quo and bringing life-changing
technologies directly to those who need them most."
SpringTide Ventures strategically aligns its investments by
engaging with industry experts and insiders to identify key trends
and untapped opportunities. The firm then proactively seeks out
founders and entrepreneurs at the forefront of healthcare
innovation, particularly those harnessing advanced technologies to
address pressing challenges. Technologies such as artificial
intelligence, next-generation sequencing, and flexible electronics
are leveraged to create solutions that enhance patient care,
improve health outcomes, and broaden access to quality healthcare
services. This refined approach ensures that SpringTide Ventures
contributes to the advancement of healthcare and supports the
growth of businesses poised to make a significant impact in the
industry.
For more information about SpringTide Ventures, visit:
https://springtide.com/.
About SpringTide Ventures
SpringTide Ventures is an investment firm dedicated to
supporting the world’s best healthcare innovators. Based in Boston,
Salt Lake City, and San Francisco, the firm currently has $100
million in total assets under management, focusing on early-stage
investments in digital health, medical devices, life sciences, and
tech-enabled care delivery. For more information, visit
https://springtide.com/.
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SpringTide Communications josh@springtide.com