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Cricket Health locks in $24M to expand its footprint in the kidney care space

By October 30, 2018 No Comments

The startup, which leverages technology to assist chronic kidney disease and end-stage renal disease patients, has wrapped up a $24 million Series A round led by Oak HC/FT.

San Francisco startup Cricket Health, which uses technology to assist chronic kidney disease and end-stage renal disease patients, has raised a $24 million Series A round led by Oak HC/FT.

Other investors in the round included Cigna, iSeed Ventures, LifeForce Capital, Joe Montana’s Liquid 2 Ventures, Rock Health co-founder Halle Tecco and Virtua Health co-founder Sami Inkinen. LinkedIn CEO Jeff Weiner, First Round Capital, Nexus Ventures, Aberdare Management, Seven Peaks Ventures and Box Group participated as well.

The company will use the new funding to expand its programs as well as its clinical footprint. The money will also go toward the continued development of care management programs so end-stage renal disease patients can delay the need for dialysis.

Cricket Health’s approach involves working with health systems and insurers to pinpoint high-risk patients prior to kidney failure occurring. The startup then provides said patients with various resources, including a nephrology practice that offers in-person, remote and at-home care; a care team; dialysis care; and a technology solution that has educational content as well as peer and clinical support.

If an individual’s condition worsens, the startup’s model focuses on aiding the patient and whatever treatment option he or she chooses.

“Kidney care in our country is broken: Patients too often end up on very costly, life-altering, in-center dialysis because upside-down incentives put them there. Our mission at Cricket is to reduce the burden of kidney disease and put patients back in control of their lives with care that is cost-effective, keeps them healthy and gives them hope for the future,” Cricket Health co-founder and CEO Arvind Rajan said in a news release.

In 2017, the San Francisco company won the health IT over $2 million track of MedCity INVEST’s Pitch Perfect contest. In an interview after the competition, Rajan discussed how his organization strives to help CKD and ESRD patients get access to valuable information and the care they need.

“We wanted to design an experience so patients could get to the right choices for them,” he said.

In 2016, Cricket Health announced it had raised $2.5 million in seed funding from numerous investors, including First Round Capital and NFX Guild.

Read the full story on MedCity News