Affirm Archives - Crunchbase News /tag/affirm/ Data-driven reporting on private markets, startups, founders, and investors Fri, 21 Feb 2020 21:59:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 /wp-content/uploads/cb_news_favicon-150x150.png Affirm Archives - Crunchbase News /tag/affirm/ 32 32 Q Bio Raises $40M For Preventative Health Platform In a16z-Led Series B /venture/q-bio-raises-40m-for-preventative-health-platform-in-a16z-led-series-b/ Fri, 21 Feb 2020 16:14:22 +0000 http://news.crunchbase.com/?p=25691 , a digital health platform, has emerged from stealth with a $40 million round of funding led by (a16z).

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The Series B financing brings the company’s total funding since its inception in late 2015 to $58 million. Other backers include , , , Thirty5 Venturers, and .

Because digital health platform is such a broad term, let’s break down what it means in this case. The Redwood City California-based startup claims it can give “members” a web-based in “75 minutes or less.”

The premise behind the company is to help identify health issues before they become worse, or as it claims: “To give individuals a deeper understanding of their own body and how it’s changing over time so they have more control over their own health.”

Indeed, most of us don’t even know we’re sick until symptoms start popping up to alert us. In some cases such as certain forms of cancer–it can already be too late. Q Bio says its platform can actually identify signs of disease at the earliest stages, before symptoms arise. If this is true, I’d say it’s revolutionary.

The way it works seems straightforward. Members register online and the company begins aggregating and digitizing their medical history. On exam day, members anonymously check in for a 75- to 90-minute exam. Two weeks later, a Q “expert” will review the results over a “secure” video chat in which members’ physicians are welcome to join.

With each additional visit, Q claims, its HIPAA-compliant platform gets more sensitive to surfacing anomalous changes in your body, then tailors the set of measurements gathered based on these anomalies and changing risk factors.

In summary, membership includes a fully comprehensive exam including a full body MRI, saliva, blood and urine analysis, a summary and a 30-minute telemedicine review of the health of each of your body’s systems. Health data is continuously updated for one year and stored in the company’s BioVault with lifetime access to review and share.

co-founder serves as Q Bio’s CEO. As part of this new round of funding, Andreessen Horowitz General Partner joins Q Bio’s board, along with from Khosla Ventures.

Q Bio CEO and co-founder Jeff Kaditz

Background

Kaditz co-founded the company with his own misdiagnoses from over a decade ago in mind.

Since then, he said, he’s “imagined a day when everything about a person’s body could be quickly measured, shared and analyzed.”

“It took some time to figure out some of the scaling issues and to wait for certain technologies to be cheap enough and mature enough,” Kaditz told Crunchbase News. “Our technology allows us to gather more clinical information, more quantitatively, faster and cheaper than anything else and it will only get faster and less expensive over time. We allow for a separation of where you go to get your body measured and where your doctor actually is.”

Over the past few years, the company has stealthily worked on fine-tuning its imaging protocols to determine the “most clinically relevant set of biomarkers” to include in its platform. It has 25 employees, up from 17 a year ago.

Currently Q Bio has a location in its home base of Redwood City but is looking several locations in major metro areas outside of that location.
Indeed, initial demand was “overwhelming,” Kaditz said, so the company has created a waitlist.
“Some members have chosen to fly to our Redwood City location rather than wait for a new location to open,” he added. At the end of the day, Q Bio believes “executive physicals should not be just for executives.”

a16z’s Pande in a written statement said that“Q Bio makes true preventive medicine possible today.”

“By measuring everything from blood to imaging and more in a longitudinal way, patients can have personalized baselines and physicians the data and power to understand, interpret and utilize this data to personalize care,” he added.

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Fintech Unicorns Affirm, Bill.com Collect Big Rounds /venture/fintech-unicorns-affirm-bill-com-collect-big-rounds/ Wed, 03 Apr 2019 15:06:13 +0000 http://news.crunchbase.com/?p=18027 Bay Area fintech startups are cashing in this week.

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澱Dz’ reported this morning that consumer credit startup at a $2.9 billion post-money valuation. The Series F round takes the San Francisco-based company’s total funding over time to . Its last raise was a $200 million n December 2017.


, Fidelity, , and participated in the latest financing, according to Axios.

co-founder helped launch Affirm in 2012 to provide consumers a replacement for credit cards. The mobile app offers installment loans to consumers at the point of sale.

Also, yesterday, Palo Alto-based announced an $88M funding round led by with participation from , and others. The round takes Bill.com’s total venture raised over time to just , according to its Crunchbase profile.


That round also catapulted Bill.com to unicorn status with a valuation of more than $1 billion, according to . Founded in 2006, Bill.com is a cloud-based business payments and software platform focused on the SMB market.

Founder and CEO diverted questions from the about whether the company is profitable yet or when it might plan to go public, telling reporter Cromwell Schubarth that the company’s current focus  “is about building and solving the biggest pain points for customers and doing the right thing for businesses.” In a press release, Lacerte said the company automates payments and back office business processes to help its customers achieve “significant efficiencies and cost savings.”

Currently, more than three million members pay or are getting paid with Bill.com, according to the company, which manages more than $60 billion in annual payments.

In October 2018, , a (also Bay Area-based) provider of credit cards for startups, raised $125 million in a that also gave it unicorn status with a $1.1 billion valuation. (Read more about that .)

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