Conversa Health stays fit with more seed capital

Conversa Health, a US-based medical software-as-a-service firm, has secured seed capital from a consortium including Michigan University’s student-led impact investment fund Social Venture Fund.

Other, unnamed early-stage healthcare investors also contributed money, though the size of the round has not been disclosed.

Conversa Health has developed a software-as-a-service platform to improve patient engagement, adherence and health outcomes.

The platform’s main feature is called Digital Checkups, a tool which creates personalised clinical questions, education, reminders and alerts for each patient. The tool accesses a patient’s electronic health records and biometric monitoring devices.

In 2015, Conversa Health raised $2.5m in seed funding from angel investors.

Christine Priori, who led the team of seven students involved in sourcing and providing due diligence on the deal for the Social Venture Fund, said: “I am continuously impressed by the intelligence and dedication of my fellow fund members as they diligently researched and clearly articulated the possibility of investing in this company and industry.”

West Shell, co-founder and chief executive of Conversa Health, said: “We are impressed with the thoughtful and rigorous due diligence process the Social Venture Fund went through.

“We are delighted to have them on our team to help work on business building and research projects that will drive Conversa’s innovation and social value impact.”

– Editor’s note: This article was updated on May 11 to correct an earlier mistake that referred to the funding round as a series B and said the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies invested separately alongside its Social Venture Fund.