Cadence Raises $100 Million in Series C Funding
Cadence, a New York City-based company specializing in remote patient monitoring and chronic disease management, has successfully raised $100 million in its Series C funding round. This significant investment round was led by Spark Capital, with participation from Thrive Capital, General Catalyst, Coatue, B Capital, Corewell Health Ventures, Memorial Hermann, and Duke Health.
Founded and led by CEO Chris Altchek, Cadence aims to improve healthcare outcomes and reduce costs at scale by offering intelligent senior care solutions that focus on preemptive measures. "Our mission is to transform how chronic diseases are managed by leveraging technology to provide better care," Altchek stated.
Strategic Use of Funds
The newly acquired capital will be directed towards expanding Cadence’s technological capabilities and enhancing its remote patient monitoring services. The company plans to scale its operations and reach more patients by investing in technology and healthcare partnerships.
Investor Confidence and Market Impact
The involvement of high-profile investors such as Spark Capital and others highlights the growing confidence in Cadence's approach to healthcare innovation. The funding is expected to bolster the company's market position and accelerate its efforts in providing effective healthcare solutions.
With this funding, Cadence is poised to continue its mission of delivering efficient and cost-effective care, potentially setting new standards in the management of chronic diseases.