Kleiner-Backed RedBrick Health Raising (Another) $15m


RedBrick Health Minneapolis-based health technology and services startup RedBrick Health recently disclosed intent to raise a $15m series  D equity round, according to a document filed with the SEC last week.

The company’s health engagement platform “blends a fresh, personalized consumer experience, impactful social networking tools and rewards that link individual financing to healthy behaviors.”

The filing indicates that $5m has been initially secured;  Highland Capital Partners in Lexington, Massachusetts and Newport Beach fund Versant Ventures are named related parties, amongst others.

Launched in 2006, the startup pulled $15m in VC (presumably series B) later that year, followed by a $15m C round led by Kleiner Perkins Caufield & Byers in April 2009.  This fourth round of financing would raise RedBrick’s capitalization to over $45m, if and when completed.

Last fall, the company vaguely announced acquiring Social Kinetics out of San Mateo, CA —  a stealth mode health engagement technology company founded by ” a few guys with security clearance” developing an “artificial intelligence – wellness assistant” with funding from DARPA.

RedBrick isn’t the only Minnesota health IT mover lately, as Healthsense in Mendota Heights also reported last week plans to raise $1.2m , although no amount is shown as actually funded…


  • http://card.ly/stalkcasey Casey Allen

    You know how everyone says the Twin Cities “Needs a Groupon” that will give birth to entrepreneurial talent, startup executives, and next-gen, rich tech angels? Well folks, this is our Groupon.

    Not sexy, you say? Alas, it is. It's every bit the winning B2B2C SaaS platform that Groupon is.

    Not likely to exit anytime soon? Alas, you must never have heard of Kleiner Perkins. They would not have made their first investment ever into a MN company had they not seen an acquisition or IPO, likely the latter, by 2014.

    “Yes, but it's health” you might say. “We don't need another effing healthcare company”. Alas, look closely. No devices, just software. Product-oriented, plenty of people under 40, and zero execs with gray hair.

    It's no FourSquare, and they'll never be on TechCrunch, but I'm optimistic. I think their ripple effects on the local software and tech scene will be bigger than most think in the next two years.

    Am I out in left field?

    • http://tech.mn Jeff Pesek

      Interesting observations Casey, I think you're in the ballpark!