Andreessen makes Ribbon Health the first investment from its $750 million new healthcare fund

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Reported today on TechCrunch

For the full article visit: https://techcrunch.com/2020/02/26/andreessen-makes-ribbon-health-the-first-investment-from-its-750-million-new-healthcare-fund/

Andreessen makes Ribbon Health the first investment from its $750 million new healthcare fund

One of the biggest roadblocks to reducing costs in the American healthcare system is the system's inherent lack of transparency.

Most healthcare networks and hospital systems can't even accurately account for the doctors they manage and which insurance plans those doctors accept - let alone how good those doctors actually are at providing care, according to Ribbon Health chief executive Nate Maslak.

The former healthcare consultant founded Ribbon Health to address just that issue, and the company has raised $10.25 million in new financing to roll out its software services to a broader network of payers, providers and digital health companies.

The new financing was led by Andreessen Horowitz, and included Y Combinator and the New York-based investment firm BoxGroup. Individual healthcare executives like Nat Turner, the chief executive of Flatiron Health; Vivek Garipalli, chief executive and co-founder of Clover Health; and Eric Roza, the former chief executive of DataLogix, also participated in the financing.

It's the first deal for Andreessen's newest healthcare-focused partner, Julie Yoo, and is in an area with which Yoo is quite familiar. The former serial healthcare entrepreneur developed a similar business to tackle better data collection and delivery for hospitals at Kyruus.

Taking an API -based approach, Ribbon Health is building on the Kyruus approach, Yoo said, with the potential to expand across the entire breadth of the American healthcare system.

Simply, Ribbon Health is trying to create an accurate database of what doctors and health plans have, which specializations offer their services to which insurance providers, and produce the



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