Tendo Systems raises Series B led by Lux Capital
Delivering improved health care experiences, better clinical outcomes, and greater efficiencies
Today, Lux Capital is proud to announce that we are leading a $50M Series B financing in Tendo Systems, whose platform enables care providers, patients, and caregivers to seamlessly connect with each other, leading to a world-class healthcare experience. We partnered with Dan Goldsmith and Jen Goldsmith at Series A, and are excited to further deepen this partnership as they continue to build the company. As a part of this financing, I am also joining their Board of Directors.
Dan and Jen are a very special pair of founders. Dan was the Chief Strategy Officer and then Executive Vice President at ~$50B market cap Veeva Systems, and then President and CEO at Instructure that was acquired for ~$2B. Jen Goldsmith was Senior Vice President at Veeva and prior to that at IBM and Pfizer. We are also fortunate that Jen is a Board member at our portfolio company Benchling. Needless to say, these two siblings have not only known each other their entire lives, but have spent much of their working life together, building some of the most iconic companies across multiple industries.
Dan and Jen started Tendo after spending considerable time talking to senior executives across the healthcare space, and realizing that there was a need to build a modern cloud-based SAAS platform that brought all aspects of patient and clinical care together. Tendo aims to help its customers provide consumer-grade healthcare experience to patients across digital and physical worlds. And doing so at scale requires building seamless front-end interfaces and deep back-end integrations. This team has the depth and the experience to do exactly that.
Many companies in the healthcare software space tend to build point-solutions to specific problems they identify in the ecosystem. Nothing wrong with that per se, but looked at from a health system point of view, the ecosystem can quickly start to look too complicated, and consumer experience fragmented and disjointed. Tendo solves that. Instead of trying to rush out the door with a few point solutions to sell to a very large number of customers, Tendo instead builds deep relationships with its “foundational” customers, and effectively works hand in hand with their senior management teams to build patient and clinical experiences that prioritize care. One example is Thomas Jefferson University (TJU), where Dr. Stephen Klasko, President of TJU and CEO of Jefferson Health has been an extraordinary partner in building goal-oriented healthcare experiences.
Tendo’s overall goal is to use technology (mobile, web, cloud-based) to create exceptional experiences, deliver better health outcomes, and generate efficiency in the system. And company is very selective on only working with healthcare systems where they find 100% alignment on these goals. Delivering on these goals means hiring some of the best people in the industry — who understand both technology as well as healthcare — and fortunately for Tendo, they have chosen to hire the best not only in Silicon Valley, but also from across the country, especially in Philadelphia where they are headquartered. Company has raised this capital opportunistically to continue to build on their early successes, and if you are interested in building on a mission to improve the healthcare experience for people, they are hiring!
More info here.
