Rock Health has raised its third seed fund which also happens to be its largest fund yet. Bessemer Venture Partners and Kaiser Permanente Ventures led the round, with participation from KPCB, Montreux Equity Partners and Great Oaks Ventures.
Rock’s mission stays unchanged and they will continue to support and fund the entrepreneurs working to transform the healthcare industry. With the extra cash, however, they are making some changes.
First, the investment size has been increased to up to $250,000 per company. This, they say, should give a stronger signal to seed co-investors.
The second change is that Rock Health will now make it even easier for startups in the future, on their next round. The lead investors in this fund represent the most active venture firms in digital health, with category-leading portfolios and a full commitment to investing in companies over the next decade.
Interested startups are invited to send their company’s information by November 20th for a funding decision and support beginning in January.Rock hopes to review another thousand or more companies this year and in those that follow, while increasing selectivity to around 1-2% from a historical 2-3% average. Even with that type of selectivity, it expects that the new fund will allow it to continue to be the most active seed investor in digital health, all while adding value to companies.
While Rock Health headquarters are in San Francisco, the fund supports companies throughout the U.S. Outside of the Bay Area; there is Aptible in New York City; Wellframe, Reify Health, Neumitra and Podimetrics in Boston; and Kit Check in Washington D.C.
Interested digital health startups are invited to send their company’s information by November 20th for a funding decision and support beginning in January.