Midwest VC Boom, RSSI Tips, Facebook Next Chapter – TechCrunch

Healthcare spending accounts for nearly 18% of U.S. GDP, so it’s no surprise that digital health is attracting record levels of investment. This year, venture capitalists paid health tech startups $ 14.7 billion, up from $ 14.6 billion for all of 2020.

Considering the high cost of healthcare in the United States compared to other countries, pairing fintech with healthcare technology is only good business.

Simon Wu, investment director at Cathay Innovation, says he pays particular attention to these areas of convergence:

  • Data and the Transition to Value-Based Care.
  • Gamify consumer well-being to avoid chronic diseases.
  • Fintech for affordability and reduced friction.

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Since the U.S. Congress passed a $ 1.9 trillion COVID-19 stimulus package this year that increased funding for affordable health care, Wu says opportunities are growing for startups in this space.

“We are only in the early stages of a digital revolution in healthcare, but the convergence of healthcare and fintech will be an important catalyst in solving some of the most pressing issues facing healthcare. health today, ”according to Wu.

“A modern financial consumer experience can help build relationships and trust between patients, providers and payers. “

Thank you very much for reading,

Walter thompson

Editor-in-Chief, TechCrunch +
@yourprotagonist

From the heart of the United States, a startup boom

The rising tide of venture capital that has boosted startups around the world has also splashed through the US Midwest this year.

Regions like Denver and Chicago “are crushing their venture capital counts for 2020, results that were sometimes already at or near record levels”, report Anna Heim and Alex Wilhelm in today’s edition by The Exchange.

Zillow may be lifting the welcome mat, but rival OpenDoor is expanding into new markets

Image credits: Martin Barraud / Getty Images under one CC BY 2.0 (Opens in a new window) Licence.

Shortly after the start of the pandemic, the US residential real estate market also became feverish.

One-upmanship and quick closings have become the norm, often facilitated by the speed and convenience offered by high-tech companies that have helped sellers cash in quickly so they can get into their next homes.

But Zillow shares fell 10% last week after the company said it would suspend home buying for the remainder of the year. Soon after, one of its main rivals hit back by announcing that “OpenDoor is open for business and continues to develop and grow,” reports Ryan Lawler.

He interviewed OpenDoor Technical Director Ian Wong and Client Director Megan Meyer Toolson to learn more about their plans for growth in a market facing severe labor and financial constraints. supply.

“The past 18 months have been a very dynamic period for the housing market, to say the least. So we had to be very competitive because things are so dynamic and the price appreciation has been very strong, ”said Wong.

Bridging the Gap: What CISOs Need to Do to Get the C-Suite on Their Side

A person draws people to his side with a magnet.

Image credits: Andrii Yalanskyi (Opens in a new window) / Getty Images

On a good day, most people even forget that the Information Security Officer exists. But if something is wrong, everyone will demand answers.

Keeping a company’s security measures up to date while getting all stakeholders to implement safe security practices is a difficult task, complicated by the fact that many CISOs are not in the executive decision loop.

According to Sean McDermott, founder and CEO of RedMonocle, CISOs should meet with leaders where they are.

“You already know why investing in cybersecurity is essential for your role. Now put yourself in your leadership shoes to explain why this is crucial to theirs, ”he writes.

How Lunchclub Obtained a Preventive Conditions Sheet from Lightspeed

Image credits: TechCrunch

When Lunchclub, a social platform that helps people find new connections in specific industries, launched its fireside chat service last year, it immediately garnered a lot of interest.

So much so that Lightspeed Ventures gave the startup a condition sheet even though its founders weren’t looking to raise funds.

In the latest episode of TechCrunch Live, Lunchclub co-founder Vlad Novakovski and Lightspeed’s Nicole Quinn broke down his Series A deck, Lightspeed’s investment thesis, and how having a strong investor network makes the difference between a successful increase and one dud.

“Consumer feedback is everything to us,” Quinn said. “It’s the most important thing I look for in a slide game and conversation. I want to know, do customers like it? “

Facebook’s Next Chapter Might Make Sense

Snap Inc.’s third-quarter results last week saw its inventory plummet, but it wasn’t the only one: Apple’s iOS 15 privacy implementation disrupted ad tracking and measurement for social media and advertising platforms at all levels.

This potential ad revenue volatility could have something to do with Facebook’s metaverse orientation, notes Alex Wilhelm. Is Zuckerberg planning to consolidate his losses with a jump into virtual reality?

“Something other will have to fill the void, ”writes Alex. “The company’s new branding fits in perfectly with this kind of push. “

Braze set to put points on board of New York startup scene in impending IPO

While it wasn’t a unicorn in its last fundraiser, New York-based customer engagement software startup Braze may well break the $ 1 billion mark when it hits. finally made public.

According to Alex Wilhelm’s initial reading of the startup’s new S-1 dossier, Braze appears to have a decent business with growing revenues (although costs are growing faster than profits), good retention with an emphasis on larger customers and strong subscription activity. .

“To sum up: Braze is doing well on a large scale with modest net losses and no smokescreen, false profit numbers posted,” writes Alex.