Minneapolis-based Nice Healthcare has closed a $30 million Series A. The round was led by DNA Capital and included previous investors Waterline Ventures, Conductive Ventures, and Santa Barbara Venture Partner and new investors Brown Venture Group, F.R. Bigelow Foundation, Daren Cotter, and Eddie Cisneros.
”Healthcare innovation is worthless if it does not simultaneously and immediately reduce health insurance premiums, reduce patient out-of-pocket costs, and make care more accessible,” Nice Healthcare Co-founder and CEO Thompson Aderinkomi said in a release. “Nice Healthcare has accomplished these three things from day one and this funding will enable us to bring our truly impactful model of care to more homes nationwide.”
The Series A isn’t the only news out of the Nice Healthcare camp — the company is also expanding its C-suite. The new hires include Steven Bayer as Chief Experience Officer, Charles Wyatt as Chief Financial Officer, and Shadé Akande as Chief People Officer.
Nice Healthcare launched in 2017 and specializes in providing healthcare benefits to small and medium sized businesses (including in-home and virtual primary care, mental health services, and physical therapy). The company recently partnered with Capsule for medication needs.
Nice Healthcare Co-founder and CEO Thompson Aderinkomi is no stranger to the tech.mn world. He has been featured on The tech.mn Podcast and was a guest speaker at FuckUp Nights Twin Cities in 2020. You can check out both of those appearances below.
For more information about Nice Healthcare’s Series A, read the release below.
March 10, 2022–Minneapolis, Minn– Nice Healthcare, the clinic that comes to you, today announced that it has closed a Series A funding round of $30 million led by DNA Capital, with participation from existing investors Waterline Ventures, Conductive Ventures, and Santa Barbara Venture Partner and new investors Brown Venture Group, F.R. Bigelow Foundation, Daren Cotter, and Eddie Cisneros. Nice Healthcare is solving systemic pain points by bringing integrated primary care directly to the patient with in-home and virtual visits, lab tests, x-rays, mental health services, prescription medication and physical therapy. The company’s unique blend of innovation and personal touches are a welcomed disruption in modern medicine.
Nice Healthcare focuses on bringing affordable healthcare benefits to small and medium sized businesses, the backbone of the US Economy. Small businesses generate 44% of US economic activity and employ 48% of US employees, yet few healthcare innovations are focused on this segment. Further, much of the innovation often caters to tech savvy, high earning consumers or those who are marginalized. What is often missed is the middle, working class families. Nice Healthcare is the first integrated healthcare solution that enables SMBs to offer medical care to families that is affordable and accessible.
”Healthcare innovation is worthless if it does not simultaneously and immediately reduce health insurance premiums, reduce patient out-of-pocket costs, and make care more accessible,” said Thompson Aderinkomi, Co-founder and CEO of Nice Healthcare. “Nice Healthcare has accomplished these three things from day one and this funding will enable us to bring our truly impactful model of care to more homes nationwide.”
In addition to the Series A, Nice is also announcing an expansion of its C-suite to support continued growth with key executive hires, including the addition of Steven Bayer as Chief Experience Officer, Charles Wyatt as Chief Financial Officer and Shadé Akande as Chief People Officer. Since 2020, the company experienced 300% growth, added physical therapy and mental health to its service offerings and expanded into 20 markets to support demand.
“We at DNA Capital are delighted to partner with Nice as they continue to scale their high touch and affordable primary care services to large cross sections of rural and suburban middle to low income working individuals and families across America,” said Partha Mishra, Partner at DNA Capital who joined Nice’s Board of Directors. “We are equally excited to back one of the most diverse founding teams and a culture that celebrates diversity and promotes respect for one another and inspires trust amongst the people they have the privilege to serve.”
Headquartered in Minneapolis, Minnesota, Nice Healthcare is currently available in parts of Arizona, Colorado, Idaho, Minnesota, Nebraska, New Mexico, Nevada, Utah, Iowa, Wisconsin, Oregon and Washington, with plans to expand into more markets. More than 400 small businesses currently use Nice Healthcare for their employees healthcare benefits. In addition to the investors who participated in Nice’s Series A financing round, OATV was an early investor and has been instrumental in supporting the growth of the company.
To learn more about Nice Healthcare, visit www.nice.healthcare.
About Nice Healthcare
Nice Healthcare is making truly integrated comprehensive healthcare accessible, allowing patients to easily get care for their everyday needs. By utilizing a mix of technology, logistics, and expert clinical care, they bring a fully integrated clinic to you, providing in-home and virtual primary care, mental health therapy, and physical therapy Their clinicians can also offer patients x-rays, 35 labs and blood draws and a formulary with over 550 medications with no out-of-pocket costs. Since launching in Minnesota in 2017, Nice has expanded its integrated care services to 12 states.