TDM Growth Partners, investor in Square, Twilio and Slack, leads round to accelerate the digital transformation of healthcare
League, the leader in healthcare platform technology, today announced that TDM Growth Partners, a global platform investor, led their $95 million USD round, with participation from Workday Ventures and existing investors. The new financing will support League in scaling its platform-as-a-service (PaaS) offering, Health OSTM, positioning it as the leading digital infrastructure for an integrated health ecosystem. The company’s total funding to date is now over $205 million USD.
“Time and time again, point solutions inevitably give way to platforms that accelerate innovation and time-to-market while enabling interoperability and economies of scale,” said Michael Serbinis, founder and CEO of League. “In healthcare, League is that platform. With the support of leading platform investors, League’s PaaS offering is positioned as the de facto digital infrastructure to build comprehensive healthcare consumer experiences. Providers, payers, consumer health partners and employers use League’s platform to build unique and differentiated applications that transform healthcare from a patchwork of disparate point solutions to a cohesive experience that just works.”
With hundreds of customers that include organizations such as Humana, Shopify and Shoppers Drug Mart, League’s Health OS™ empowers stakeholders in the continuum of care to build and deploy the next generation of healthcare applications with a secure, reliable and interoperable foundation. The platform is built on the Fast Healthcare Interoperability Resources (FHIR) standard and leverages the Google Cloud Platform (GCP) Healthcare API to enable the “front door” to healthcare for millions of consumers. It will harness data from electronic health records (EHRs), claims, health and wellness devices and third-party partners to deliver deeply personalized digital health experiences and create a cohesive, omnichannel experience for the consumer.
“We are proud to play a role in League’s vision for the future of healthcare and the transformation of care delivery,” said Jess Bell-Allen at TDM Growth Partners. “We appreciate and understand the scaling journey of pre-IPO companies and what it takes to transition them successfully to the public markets. We recently saw this with Allbirds and hope to use our learnings from previous investments in platform companies like Square, Twilio and Slack to now support League and their long-term growth ambitions.”
The digital transformation in healthcare has moved at an accelerated pace in recent years as the industry works to solve siloed data and a lack of interoperability across the continuum of care. “Consumerization” has affected nearly every industry as consumers raise expectations for convenience and expeditious services, but healthcare has yet to fully prioritize the consumer experience. A platform-based healthcare system would eliminate many of the silos across data systems with health networks, payers, consumer health partners and employers, encouraging a flow of information that directly improves health outcomes and overall population health.
“The digital transformation of the healthcare consumer experience will benefit employers by helping to ensure employees quickly get the services and support that they need,” said Mark Peek, managing director and head of Workday Ventures. “We continue to invest in League to support our customers in enhancing their employee experience so that their workforce feels supported in managing their health and wellbeing, which in turn helps them do their best work.”
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