Greater Good Health Raises $10 Million in Funding to Empower Nurse Practitioners and Improve Primary Care Access
Having launched a care model centered around nurse practitioners, Greater Good Health's latest funding round will broaden its reach and breadth of value-based care capabilities
MANHATTAN BEACH, Calif., May 18, 2022 /PRNewswire/ -- Greater Good Health, the company redefining value-based care through the first primary care model centered around nurse practitioners, today announced that it has secured a total of $13 million in funding since its inception last year. Adding to $3 million in previously undisclosed seed funding, Greater Good Health recently closed another round totaling $10 million led by LRVHealth, with participation from Martin Ventures, Health Velocity Capital, returning investor Optum Ventures and additional angel investors and renowned healthcare experts.
A testament to Greater Good Health's continued growth trajectory, the funds will be used to help the company grow its existing network of NPs, expand into additional states and broaden its digital solution.
"Nurse practitioners, along with other healthcare professionals, have felt undervalued and burnt out for years – a sentiment that was exacerbated by the pandemic and continues in its aftermath," said Sylvia Hastanan, founder and CEO of Greater Good Health, who spent the last decade in leadership roles with national provider organizations such as Optum, Davita Medical Group and HealthCare Partners. "As a result, the nation is facing an alarming shortage of healthcare workers, especially in primary care. To help address provider burnout, it's important to build and expand systems designed to support healthcare professionals to work at the top of their license."
Greater Good Health connects and empowers NPs with value-based care training, technology tools, clinical resources and professional development. Resources include a technology-enabled community, personal wellness experiences and professional learning and development content. Additionally, the digital platform enables NPs to improve scheduling, access clinical resources and more.
"With more states moving to full practice authority, we recognize that NPs are well-positioned to help improve health access and equity for all," said Hastanan. "And as we continue providing NPs with the tools needed to be successful, we look forward to further expanding our reach to more patients – especially those that struggle with accessing a physician."
Operating primarily on the West Coast, Greater Good Health plans to expand in geography and services with value-based provider groups, hospitals and health plans.
"The biggest challenge in healthcare right now is addressing rampant provider burnout and physician shortage – especially within primary care. We're hearing this repeatedly from the health systems and other strategic partners in our network," said Tripp Peake, managing partner at LRVHealth. "We're investing in Greater Good Health because their unique approach to empowering nurse practitioners helps fill massive gaps in care. It opens access to primary medicine for more people, keeps people healthier, and ultimately benefits everyone as the industry continues its shift to value-based care."
For more information and to join the community, visit www.greatergoodhealth.com.
About Greater Good Health
Greater Good Health is a healthcare startup committed to redefining holistic value-based care and expanding primary care access. The company's platform, centered around nurse practitioners (NPs), provides NPs access to a broad community, an education portal, including the Greater Good Institute, technology tools to enhance scheduling, analytics, and access point of care tools, as well wellness resources to help prevent burnout. For more information, visit www.greatergoodhealth.com.
About LRVHealth
LRVHealth is the "Inside Healthcare" venture capital platform. LRVHealth's investors include leading provider, payer, and vendor organizations, comprising a network that touches one in three healthcare consumers across the U.S. Together, this network collaborates to identify, invest in, and adopt innovative solutions to the industry's most pressing needs. Founded in 2000 by an experienced team of healthcare investors, operators, and advisors, the LRVHealth team provides early-stage capital, operating experience, and industry insight to build the next generation of great healthcare companies. For more information, visit www.LRVHealth.com.
About Martin Ventures
Martin Ventures is a healthcare-focused venture capital firm based in Nashville, TN. Martin Venture focuses on both building de novo companies and investing capital into world-class entrepreneurs' leading innovative healthcare technology and services companies. For more information, visit www.martinventures.com.
About Health Velocity Capital
Health Velocity Capital invests exclusively in innovative healthcare software and services companies. The firm's partners have more than 75 collective years as investors, entrepreneurs, and executives helping to finance and build innovative companies that created important new healthcare markets and that became market leaders, including successful companies such as Teladoc, Livongo Health, Change Healthcare, MDLive, Contessa Health, Headspace Health, Aspire Health, Zipari, IVX Health, Well Health, Compassus, Aperio, The Advisory Board Company, Healthways (Tivity Health), US Renal Care, Spero Health, OnShift, Vantage Oncology, D2Hawkeye, Circulation Health, Payerpath, and many others. In addition to investing on behalf of institutional investors, Health Velocity Capital invests on behalf of a number of the nation's largest and most influential healthcare organizations and many of their top executives who collectively represent organizations that provide health insurance to more than 175 million Americans, operate more than 600 hospitals, provide pharmacy and PBM services to all Americans, and provide software and services to every major hospital in the United States. For more information, please visit www.healthvelocitycapital.com.
About Optum Ventures
Optum Ventures is the independent venture fund of Optum, a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone, and part of the UnitedHealth Group. Optum Ventures invests in digital health companies that use data and insights to help improve consumers' access to health care services and how care is delivered and paid for, and that make the healthcare system more reliable and easier to navigate. For more information, please visit www.optumventures.com.
SOURCE Greater Good Health
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