Over the last few weeks, we announced investments in Future Money, Christie’s Chips and Kinometrix.
Our latest investment, Vital Audio
After rewriting Nyame’s pitch, he crushed it on the show. Raking in $175k in commitments from four investors in the room.
His pitch was indeed impressive, but since the show his business has continued to shine. Here’s what we love about Vital Audio:
1. Defensible tech
Their patented tech lets healthcare providers read patient vitals using just the sound of their voice… over the phone! And with many hospital call centers handling hundreds of thousands of patient calls a month, there’s a huge opportunity for Vital Audio to streamline care.
2. Provisional FDA approval
Vital Audio does not have FDA clearance… yet! But they do have provisional FDA approval to use the tech for early detection. They can’t use it to diagnose a patient, but they can for early detection. This may sound like a setback but early detection is actually quite useful for hospital systems and call centers. There’s an opportunity to build a large business here even without FDA clearance for clinical use.
3. New tech that’s accessible to all
New healthcare tech is often prohibitively expensive, leaving the general population behind. Similarly to Lotus, another portfolio company of ours, Vital Audio is building technology that’s accessible for everyone.
4. Growing the pie
There was something Nyame said during his pitch that I keep thinking about:
“When it comes to healthcare, time is everything. Time is money. Time is a life saved... [We’re] cutting the time and cost to access care and preventing those avoidable visits. And at the same time, if you're able to increase conversion rate from in-person visits to follow ups, which are actually happening remotely, you're creating room for new patients to actually come in. The patients that need the care. So you're actually increasing and expanding your revenue access.”
Before they can start saving lives and improving access, hospital systems need a business reason to adopt the technology. In this case, Vital Audio enables providers to treat more people remotely. Thus clearing out the waiting room and opening up capacity those in need of in-person care.
All that adds up to… more pie!
I love investing in things that grow the pie.
The Pitch Fund invested $85k in Vital Audio at a $8.5M post-money valuation cap.
Cyan Banister invested $50k personally.
Jesse Middleton invested $50k out of his fund.
Charles Hudson is still in diligence.
The Pitch Fund I will close to new investors on December 15th.
If you’d like to own a piece of Vital Audio, Kinometrix, FutureMoney, Christie’s Chips and 40 other high-potential startups, now is your chance to invest.
If you’re not already an LP, fill out this form or reply to this email and I’ll follow up with more info.
~Josh