NEW YORK August 16, 2022 /PR Newswire/ - Violet, the first health equity platform, today annonunced that it has raised $4.1M in seed financing, bringing their total raised amount to $5.3M. The round was led by SemperVirens along with industry-leading investors including Northwell Holdings, the venture arm of Northwell Health, The Venture Collective, HopeLab, and Naomi Allen (Brightline Founder & CEO). The seed funding will be used to continue showing improved patient health outcomes through expanding Violet’s credentialing reach, building best-in-class inclusivity training, and powering more care coordination.
“Diversity, equity, and inclusion are critical to the future of health care. Violet’s provider credentialing platform is the foundation for delivering better health outcomes for all,” said Allison Baum Gate, General Partner at SemperVirens, who will take a board seat. “We’ve heard from key stakeholders like employers, providers, and payors that they need a better way to connect patients with the right providers. The existing system is not built for culturally diverse patients. That’s where Violet comes in.”
Violet created a proprietary framework that measures cultural competence in clinicians and uses that data to build personal pathways to upskill and power identity-centered care coordination for patients. Better health outcomes are immediately visible: 84% of clinicians learning with Violet report increased inclusivity with patients and our care coordination has shown retention of patients at 3X the industry standard on day 60 of care. Since its establishment in 2020, Violet has enabled their customers, industry-leading companies like Brightline, Galileo, Parsley Health, Headway, Octave, and NOCD to launch identity-centered care for their patients. Violet’s customers are continuing to prove the power of inclusive care with improved patient health outcomes.
Violet’s earliest investor, The Venture Collective immediately shared the vision. “We believe personalized care is here to stay,” said Cat Hernandez, Partner at The Venture Collective. “Violet is well-positioned to provide a category-defining solution, as a first-mover in the space with a diverse founding team.”
By 2045, over half of Americans will be diverse with race, sexual orientation, gender identity, and more. Yet, health care is failing these Americans. Racial disparities alone have led to 3.5M life years lost in just 2020. Violet’s team — a group of mission-driven queer, BIPOC, and Disabled individuals—believes the solution is at the clinician level, thereby improving health outcomes and saving almost $100B in excess care spend.
“Collaboration with Violet will advance the provision of identity-centered care by connecting patients with the most appropriate medical providers based on cultural competencies, addressing a significant gap in the current delivery of care,” said Northwell Holdings’ President and CEO Rich Mulry.
“Violet has created provider data that powers identity-centered care, allowing every patient to find the right provider for them,” said Gaurang Choksi, Founder and CEO of Violet, “This round of funding will fuel growth of both our technology and our reach, so we can truly reshape the infrastructure of health care. We won’t stop until every single patient in this country can access the care they deserve.”
Learn more about how Violet enables identity-centered care at www.joinviolet.com/welcome
Violet is the first health equity platform for clinicians. Research shows that inclusive care is proven to generate better health outcomes and Violet’s platform is the first step to building health equity for all. For more information on Violet, please visit: www.joinviolet.com/welcome.
SemperVirens is a leading US-based, ecosystem-driven investment firm focused on companies in the workforce, healthcare, and financial technology markets. The firm has a network of executives, industry analysts, and distribution partners that serve as a proprietary platform for accessing, analyzing, and amplifying the most promising companies in its target sectors.
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