juli secures $3.8 million for AI-powered platform to help manage chronic conditions
BOSTON, March 3, 2022 /PRNewswire/ -- juli, the AI-powered digital health platform empowering patients and their care teams to manage complex chronic conditions, announced it has secured $3.8 million in a seed funding round. Leading the round were Speedinvest, one of Europe's most active early-stage venture capital firms, and Norrsken VC, a fund investing in start-ups solving the world's biggest problems while building massive businesses.
SoftBank's Vision Fund Emerge Program and Dieter von Holtzbrinck Ventures also joined the financing round.
With a vision rooted in improving care for chronic conditions, the financing will enable juli to scale its commercial team across the U.S., conduct clinical trials of the app, and acquire additional artificial intelligence talent.
"juli is helping patients, providers and employers identify behavioral triggers that worsen or improve the most hard-to-treat and complex chronic conditions, including asthma, migraines, depression and bipolar disorder," said Bettina Hein, CEO and co-founder of Boston-based juli. "With the support of Speedinvest, Norrsken and our other investors, we will be able to expand our reach to improve patient health and lower health care costs."
Chronic and mental health conditions account for 90% of U.S. healthcare expenditures. juli harnesses AI to help patients (and their caregivers) gain control over their conditions by giving them powerful insight into the behavioral patterns that impact their health, like pinpointing triggers that make a complex, multifactorial condition worse, and identifying changes that can help avoid or alleviate a flare-up.
Since launching a year ago, approximately 15,000 patients have used the juli app to track data for chronic, debilitating conditions. The company has already earned high-profile awards including Best New Company of 2021 by MassTLC, has been selected by the U.S. Department of Health and Human Services as one of 15 digital health startups to join the 2022 PandemicX Accelerator cohort, and is one of only nine companies selected into SoftBank Vision Fund's Emerge Program for 2021.
Hein, a serial software entrepreneur who has previously built successful technology companies, co-founded juli with Bettina Duehrkoop, a Swiss entrepreneur and Chief Marketing Officer of juli.
"Chronic conditions are increasingly affecting a larger number of people, and putting huge pressure on healthcare systems," said Tove Larrson, General Partner at Norrsken VC. "We urgently need better tools to manage these conditions, and available technology must be leveraged to ensure wider access to management tools. By gathering data from various sources, and monitoring patterns and triggers using its intelligent AI powered system, juli enables patients to live better lives, and helps to alleviate the pressure on healthcare systems. We look forward to working together with the juli team to tackle this massive challenge."
"It is often experienced founders with a fresh perspective who manage to innovate where others just rely on the status quo," said Michael Schuster, General Partner at Speedinvest. "The juli team brings so much experience from so many different fields to the table - especially their in-depth experience and expertise in working with data - that I am convinced they'll shake up digital healthcare for good!"
Meet with juli at VIVE
juli will participate in the VIVE conference in Miami Beach, March 6-9. ViVE merges the leadership of the College of Healthcare Information Management Executives (CHIME) and the digital marketplace of HLTH to create a technology event focused on the business of healthcare systems.
Contact [email protected] to schedule a demo of the juli platform at booth #106-01 in the Startup Hive.
About juli
juli is a management platform that empowers patients and their care teams to manage complex chronic conditions. The AI-powered app combines patient-provided data, environmental data, and a patient's social and behavioral context, to identify micro-behavioral changes that can improve their health. juli supports patients with chronic health conditions like asthma, migraine, depression, bipolar disorder, and chronic pain through a number of evidence-based approaches, and uniquely unites multiple health data sources in one place. For more information visit https://www.juli.co/.
About Norrsken VC
Norrsken VC is 123m EUR, for-profit, impact VC fund, born out of Norrsken Foundation – a non- profit foundation founded in 2016 by Niklas Adalberth, co-founder of Klarna. The fund believes that entrepreneurs building rapidly scalable businesses are our best bet for solving the world's hardest and biggest problems, such as poverty, famine, environmental issues, mental health, and integration. The fund invests across all the 17 UN Sustainable Development Goals, and its portfolio can be seen here.
About Speedinvest
Speedinvest is a leading early-stage venture capital firm with more than €600M AuM and 40 investors based in Berlin, London, Munich, Paris, and Vienna. Our dedicated sector-focused teams are the first to fund Europe's most innovative technology startups and our in-house operational experts are on-hand to offer founders ongoing support with growth, HR, US market expansion, and more. Wefox, Bitpanda, TIER Mobility, GoStudent, Wayflyer, CoachHub, Schüttflix, TourRadar, Adverity, and Twaice are among our portfolio of 250+ companies. Learn more at www.speedinvest.com.
About SoftBank Vision Fund Emerge
The SoftBank Vision Fund Emerge accelerator seeks to promote diversity in tech by connecting underrepresented founders with the capital, tools and network needed to help scale their businesses. Established in 2019 by SoftBank Investment Advisers, Emerge combines a customized eight-week mentoring program with capital investment to support future growth. Participant founders gain unique access to SoftBank professionals, portfolio companies, industry experts, as well as wider VC support networks. www.emergeaccelerator.com
About Dieter von Holtzbrinck Ventures
Dieter von Holtzbrinck Ventures (DvH Ventures) is one of the leading European early-stage investors. As an independent venture capitalist, DvH Ventures invests in young technology companies, building successful investment clusters in areas such as digital health, education and fintech. DvH Ventures was founded in 2014 and today manages various venture capital funds from its offices in Cologne and Vienna. Managing partners are Peter Richarz and Fabian von Trotha. Learn more at http://www.dvhventures.de/
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