Summits Yellow

Investment Round: Outcome Health, Brave, Julie Desk, Krypto.co and Hubble

Tim Maytom

Investment Round is our weekly update on which firms have secured new funding, which areas are seeing the most financing, and who is putting up the cash that enables these firms to pushing the capabilities of mobile marketing further.


Investment Round logos 6 June 17
Outcome Health Prescribes $600m in Funding to Accelerate Digital Healthcare

New York and Chicago-based health tech firm Outcome Health has raised around $600m (£465m) on a $5bn valuation in a new funding round that includes Goldman Sachs Investment Partners, Alphabet’s growth equity investment fund CapitalG, Balyasny Asset Management and Pritzker Group Venture Capital.


The firm, which was funded in 2006, partners with healthcare providers to serve actionable health intelligence at the moment of care, and plans to use the funds to expand its reach from 20 per cent to 70 per cent of all US physician practices by 2020. In addition, it aims to invest more in clinical trials, pharmacies and international markets, as well as working with insurance firms and other healthcare organisations.


“Outcome Health and its investors share a commitment to activate the best health outcome possible for every person in the world,” said Rishi Shah, CEO of Outcome Health. “We believe achieving this at scale will require building a ubiquitous network that brings together all sides of healthcare to support patients and healthcare providers whenever, wherever and however they make critical healthcare decisions.”


Among the firm’s innovations is the Digital Anatomy Board, which facilitates effective communication through 3D anatomical diagrams that physicians can annotate during patient consultations to visualise the patient’s medical condition, related symptoms and treatment options. The company aims to transform the patient experience whilst enabling healthcare providers to transition towards ‘value-based care’.


Former Mozilla CEO Raises $35m for Brave Browser in Under 30 Seconds
Web browser Brave, created by former Mozilla CEO Brendan Eich, managed to raise $35m in under 30 seconds last week using an unconventional but increasingly-buzzworthy method of fundraising called the initial coin offering (ICO). The ICO uses the sale of cryptocurrencies, similar to Bitcoin, to generate funding, providing investors with an alternative way of storing value to traditional shares.


For the sale, Brave created its own cryptocurrency, the Basic Attention Token, or BAT, and sold 1bn of them at a value of 156,250 ETH or just over $35m. A further 500m BAT is stored for user growth and “BAT development”, according to Brave, which has no plans for additional token sales in the future.


The sale makes for the highest grossing ICO to date, and follows Eich raising $7m from investors to develop and launch Brave. He believes that the current model of internet advertising is inherently broken, and plans to use blockchain technology to make things more efficient for all parties, from advertisers to publishers to consumers. Brave, which also offers faster loading times and tighter privacy controls, forms a central part of that plan.


AI-powered Virtual Assistant Gets a $2.8m Raise
Julie Desk, an AI-powered virtual assistant that provides scheduling and agenda management services has raised $2.8m from SIDE Capital, Entrepreneur Venture and SaaS Lab, as the firm behind the assistant aims to double its performance and the quality of automation available, as well as expanding into new markets.


The funding will enable Julie Desk to invest in AI research with the objective of intensifying its integration within medium-sized companies and major groups, while continuing or improving on current levels of service. The software is designed to gain back time and provide efficiency for professionals, and is already used in major companies in a variety of sectors, including insurance, banking and retail.


“We have selected these funds for their entrepreneurial spirit and their deep understanding of our business challenges,” said Julien Hobeika, co-founder of Julie Desk. “They are our first ambassadors, having adopted Julie in their day-to-day work. Far more than money, they will offer a true expertise that will allow the company to accelerate and develop at a rapid pace.”


Krypt.co Launches Developer Encryption Key Product Alongside $1.2m Round
It’s been a big week for the team at Krypto.co, which launched its free product called Kryptonite which is designed to help developers protect their private encryption keys, and announced that it had completed a $1.2m seed funding round led by Rough Draft Ventures/General Catalyst, along with participation from SV Angel, Akamai Labs and Slow Ventures.


The company was founded by two former MIT students who believe they have developed a better way to protect encryption keys, using mobile to provide better security by storing private keys on a sandboxed app that’s both more convenient and safer.


 The app, which pairs to your computer and enables you to approve access through a push notification, is initially being offered for free, which the company sees as a way to build relationships in the developer community. It plans on expanding its product range with services on top of the initial app which are charged for.


Investors Back Office Space Platform Hubble with £1.2m
Hubble, a digital platform designed to help startups and small businesses find flexible office space, has picked up £1.2m in new funding in a round led by Firestartr, alongside ‘proptech’ fund Concrete, 500 Startups and Maxfield Capital.


While the firm was founded with a focus on startups, it has since expanded to traditional SMEs and even larger corporate clients, with founders Tushar Agarwal, Tom Watson and Rohan Silva crediting the uncertainty of Brexit with a rise in the number of companies seeking flexibility when it comes to their location.


The injection of capital from the funding round will be used to strengthen the firm’s platform, creating a ‘digital commercial property advisor’ that will sort through the wealth of data the company has available, automating the search process to provide clients with faster, more accurate results that suit their individual needs.