Healthtech company Cadence, which aids health systems in furnishing high-quality home care, has brought in $100 million from a Series B funding, thereby boosting its valuation to a solid $1 billion. Coatue Management led the round, which also featured participation from existing investors General Catalyst and Thrive Capital.
Cadence will funnel the investment into accelerating the development of its platform, a protocol-driven remote patient monitoring program that manages data-driven and personalized care for patients in their homes. Chris Altcheck, the company's Founder and Chief Executive Officer, said, “Cadence is building an innovative digital healthcare infrastructure with the most forward-thinking, patient-centric health systems in the country. Our partners will define a new standard for the delivery of healthcare at home over the next decade, reducing disparities in care, especially among those who have been unable to easily access quality healthcare."
Cadence, still relatively fresh from its launch in August, is bent on constructing digital health infrastructure that will accommodate modern health system needs as well as stand the test of time. A crucial aspect of this forward-thinking strategy is preparing for a future where patients have greater levels of agency and access. Cadence is scaling its platform accordingly with leading U.S. health systems to provide patient support in preventing, monitoring, and managing costly chronic conditions. The company's recent funding will bolster the platform's coverage capabilities for additional conditions, acuities, and care pathways.