VC Deals: Teledoc, Workday Invest $30M Into Healthcare Software

by: VCDeals

Welcome to Seeking Alpha's Venture Capital Deals of the Week. Follow this account and turn on the email alert to receive VCDeals in your inbox on Friday afternoons.

Teledoc (NYSE:TDOC) and Workday Ventures (NASDAQ:WDAY) backed a $30M Series C for Vida Health, which provides personalized virtual care software for physical/behavioral health. The funds will go towards sales and marketing, expanding the national coaching and therapy network, and customer outreach improvements. Current Vida Health customers include eBay, PayPal, and Cisco.

Participating investor GuideWell, the parent of Florida’s largest insurer, is partnering with Vida to launch the software first with members with co-morbidities while measuring cost and quality impact. Teledoc will serve as Vida’s exclusive virtual care partner. For its Workday partnership, Vida will deliver a single sign-on integration with Workday’s system for the convenience of mutual customers.

Since its last funding round, Vida has launched an updated platform for enterprise customers and Habit Bundles, which tackle behavioral changes from a variety of angles.

“We’re proud to partner with a company like Vida Health because it puts people at the center of care with a virtual solution that empowers employees to be the very best they can be,” says Leighanne Levensaler, SVP, corporate strategy, Workday, and managing director & co-head, Workday Ventures.

Other top deals of the week:

  • SoftBank (OTCPK:SFTBF,OTCPK:SFTBY) Vision Fund led and GV (GOOG,GOOGL) joined a $205M round in Collective Health, which makes employer health benefits management software. DFJ Growth, PSP Investments, and NEA also joined. Collective collects all of an employer’s healthcare information into its technology to make it easier for employees to find answers to coverage questions and help employers track healthcare costs. Current clients include Activision Blizzard and Pinterest, and the new funds will help expand the user base.
  • Qualcomm Ventures (NASDAQ:QCOM) joined a $72M investment in Indian e-scooter business Bounce. B Capital led the round, which brought total funding to $92M and the valuation to more than $200M. The Bangalore-based startup says it has clocked 2M rides. Bounce will use the money to add more than 50K scooters to the fleet by year’s end and to enter more cities in India.
  • Goldman Sachs (NYSE:GS) led and Accenture (NYSE:ACN) Ventures participated in a $50M Series D for A/B testing tool company Optimizely. Bridge Bank pitched in a $55M line of credit. Goldman’s Michael Kondoleon will join the startup’s board. Optimizely says a quarter of the Fortune 100 uses the service with the customer list including Gap, IBM, and Sonos. The company handles 6B events a day. The money will fuel international expansion and grow Optimizely’s team of digital optimization experts.
  • M12 (NASDAQ:MSFT) backed a $31M investment that finished a $74M Series A for facial recognition startup AnyVision. The company creates face, body, and object-recognition software that can make any camera into a smart camera. The current tech is used for security and surveillance, mobile authorization, access control, and real-world analytics across industries that include banks, casinos, and stadiums. The new funds will expand both geographies and industry verticals.

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