Wednesday, April 17, 2024

Salvo Health secures $5M for digital gastrointestinal care -Dlight News

Digital gastrointestinal care startup Salvo Health announced it has closed a $5 million Seed Prime round led by City Light Capital and Human Ventures.

The company’s existing investors also participated in the round, including Torch Capital, Threshold Ventures and Felicis Ventures. Angel investors Anmol Madan, founder of Ginger Health and Teladoc’s former chief data scientist also contributed. 

Emily Melton of Threshold, Rachel Parlier of City Light, and Salvo’s founder and CEO Jeffrey Glueck will join Salvo’s board of directors.

WHAT IT DOES

The New York-based company offers a virtual clinic geared toward people with chronic gastrointestinal and metabolic liver issues, including celiac disease, fatty liver disease,  irritable bowel syndrome (IBS), gastroesophageal reflux disease (GERD), small intestinal bacterial overgrowth (SIBO) and dyspepsia.

The company says it offers “wraparound care” in a hybrid approach, allowing patients to continue under their local physician and access Salvo’s app-based support. 

Through Salvo, users are matched with a care team made up of registered dietitians, behavioral health specialists and licensed nurses, and can receive insurance-covered interdisciplinary care. 

The company will use the funds to scale its wraparound GI services to providers, including accountable care organizations, gastroenterology private practices and health systems. 

“I am delighted to lead this investment in Salvo Health and their innovative wraparound care for GI and metabolic chronic conditions,” Parlier of City Light Capital said in a statement. “As an early-stage impact investor, we look for companies with the potential to not just transform industries, but also to improve lives. Salvo is enabling GI practices and health systems to fill in the gaps for underserved patient populations, especially for high-touch follow-on care between appointments and post-procedures.” 

MARKET SNAPSHOT

Salvo launched in 2022 with $10.5 million in funding to scale its virtual clinic for chronic GI conditions. 

Other companies in the virtual digestive care space include Vivante Health, which secured $31 million in funding in September, and Oshi Health, which garnered $30 million in Series B funding in April.

“Streamlining AI-Enabled Digital Health Technologies From Research to Implementation” is scheduled for Tuesday, March 12, 1:30-2:30 p.m. ET, in W304A at HIMSS24 in Orlando. Learn more and register.

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