We reached out to Matchstick Ventures Partner Ryan Broshar for additional information on the Mountain Health investment. It has been added to the post.
Matchstick Ventures — the seed-stage firm focused on startups based in the North and Rockies regions — has announced an investment in Mountain Health. The exact amount invested was confidential, Ryan Broshar, Matchstick Ventures Partner, said. The total for the round, however, was $1.5 million.
Mountain, founded by CEO Kobby Amoah and CMO Charles Kunene (both Black founders) and headquartered in Dallas, TX, is a healthcare membership service designed to cover primary-care needs including birth control, STD testing, doctor visits, and a suite of virtual healthcare tools at $30 per month. Although the company uses, “Better Healthcare for Millennials” as a statement, the language in the investment release broadens the scope to, “self-employed people, small business employees, and millennials” perhaps indicating a slight shift in messaging and client-base going forward.
“We’ve been sold on Kobby and Charles as a founding team for a long time,” Broshar said. “They have great founder/market fit. They are humble, coachable yet have a grittiness to them we really appreciate. It took us longer to understand the market opportunity in our new COVID reality, but their persistent traction and validation made this a perfect Matchstick investment.”
The latest investment from Matchstick Ventures comes after the firm’s public commitment to the Black community following the murder of George Floyd. In the firm’s letter, it outlined several diversity and inclusion-focused goals including, “develop five more relationships with networks, organizations and groups who can help our understanding and increase the prevalence of Black founders in our investment pipeline before June 1st, 2021.” The investment in Mountain Health seems to represent a positive step forward.
“We are still early but are excited with the progress we are making internally towards our commitments,” Broshar said. “We’ll be reporting much more on our progress towards these initiatives here soon.”
Mountain Health was also a member of last year’s UnitedHealthcare Accelerator powered by Techstars (Matchstick Venture’s Ryan Broshar first met the company’s founders while mentoring them during the program) and participated in the accelerator’s Demo Day. We were impressed by the pitch, writing, “Mountain Health isn’t health insurance (as indicated by the fine print), but the pitch and service definitely tap into an audience that doesn’t want to deal with the premium/copay/deductible quagmire of traditional packages.”
We’ve reached out to Matchstick Ventures for additional statements and will update accordingly.