Define Ventures: Why We Partnered With Story Health
We couldn’t be prouder to announce Story Health’s $22m Series A Fundraise, led by Northpond and B Capital, with continued participation from Define Ventures and General Catalyst. Story Health is building the platform for digital speciality care by augmenting the work of physicians and enabling patients to receive the right care at the right time — without leaving their own homes. Our investment in the Series A comes just over a year after we co-led Story Health’s Series Seed fundraise in December 2020.
At Define, we believe that specialists and their patients deserve the tools, resources, and support to deliver treatment effectively and efficiently. We believe that Story follows the natural evolution of how care is being virtualized: initially primary and urgent care, then chronic care, and now specialty, with Story Heath at the center. We believe health systems will view the virtualization of specialty care as a core imperative in the wake of COVID, mounting workforce pressures, a broader movement toward hybrid care delivery, and the optimizing of longitudinal in-home care. Define Ventures has long held the view that specialty care needs to incorporate predictive technology, deep clinical data, precision therapeutics, and accessible services wrapped in a connected patient experience. This unique and necessary approach is exactly what Tom, Nikhil, Ashul, and the Story Health team have been building and delivering from day one.
This new round of funding will help Story accelerate its commercial relationships with health systems and risk-bearing providers, deepen its product reach within cardiology, and begin evaluating the next speciality areas for its model. We’ve worked closely with Story Health since their earliest days by helping to forge their first commercial relationships; building a deep pipeline of innovative health systems beyond that; recruiting leadership and advisory talent across sales, business development, public relations, and product; and serving as a thought partner throughout as we consider the most effective areas for expansion:
“Define Ventures has been a key partner that has led to our early success in helping specialists break out of the clinic and care for patients continuously with Story Health. When I first met Lynne and the Define Ventures team the vision for Story Health was only that, a vision. The fact that we see patients today telling us how much of a difference we made in their care journey is a testament to how quickly this partnership was able to deliver results. I’ve never seen an investor quite like Define that not only wants to be part of the team, but can help lead the charge.” — Tom Stanis, CEO & Co-Founder, Story Health
Story Health is redefining what it means to deliver specialty care in a digital-first world; it’s our honor to continue this partnership and build alongside this team as they grapple with some of the healthcare industry’s more complex and impactful problems. We are thrilled to be backing this team for that journey and are incredibly excited about what’s to come.
