Jay Rughani ๐บ๐ธ
@JayRughani
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Partner @a16z investing in healthcare technology. Prev @flatironhealth (acq by @roche for ~$2b) & @deloittehealth. Professional student.
SF+NYC
Joined June 2011
Where do we most need AI in healthcare?. To outline the most viable use cases for AI in healthcare today, we @a16z interviewed many of the largest healthcare orgs across the country. Here are the 19 areas we prioritized:
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We @a16z are excited to announce our investment into @CounselHealth, as they offer consumers 24/7 access to personalized medical advice from expert physicians within minutes. In a world where we can call a (driverless!) car, order a meal, and pay a friend -- all with a tap and a
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Science needs better Software. The good news: waves of talented builders are jumping in to help, enabling biotech to further accelerate how drugs are Discovered + Developed + Distributed. @JorgeCondeBio & I "sketch out" Biotechโs Tech moment: .
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We @a16z are thrilled to announce our Series A investment in @valarlabs, which is building AI tools to assist oncologists in cancer treatment decisions. There are roughly 2 million new cancer diagnoses annually in the US alone. Each diagnosis involves a biopsy of the patient's
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Health-tech friends building in NYC ๐ฝ. Thanks for hanging with @daisydwolf & me last night. More dinners to come!
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Full house tonight @a16z for the Software Builders in Bio event with @bitsinbio + fireside chat with @sajithw @benchling ๐ . @JorgeCondeBio @vijaypande @nlarusstone @vintweeta @ZakDoric @daisydwolf @EllenTunoa @kkerames @atcz93
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How can you better connect our healthcare system through software?. One increasingly promising way is to take a multi-sided network strategy. @vintweeta & I explore *how* with 5 iconic founders in this episode of GTM in digital health by the @a16z team:
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Who pays for your prescription drugs?. Interesting graphic on the flows between drugmaker <> wholesaler <> pharmacy <> PBM <> insurer. and the consumer from @lydiaramsey125 @skyegould @businessinsider
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This is literally a map of new startup ideas in healthcare. These were already worthwhile problems to solve in January. now experiencing once-in-a-generation tailwinds!. It's time to build in healthcare.
1/ Weโre living thru The Great Unlock in healthcare - things we thought would take 10+ yrs to play out are now playing out in 2-3. Massive dislocation is changing the very topology of the industry, enabling tech to be wedged into zones that were historically intractable.
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1/ Scientists need better software tools! ๐ฌโก๏ธ๐ป. Thatโs why @jorgecondebio & I are excited to announce that @a16z is leading @biodockaiโs seed financing: founders @MichaelLee04 & @nurlybek_m are building the modern operating system for biological data analysis.
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1/ Oncologists should have the best possible tools to select treatments for their patients. @Valarlabs is building the AI-enabled data interpretation platform for cancer care. @vintweeta & I are excited to share that @a16z is leading their seed round!.
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It's time for a transparent marketplace for healthcare. @julesyoo & I are thrilled to announce that @a16z is leading the Series A in @TurquoiseHC, after also leading the Seed last year, to support @crsevern @ageitgey & team in building that future.
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The @a16z Bio+Health team has the privilege of supporting bold entrepreneurs building across life sciences & care delivery. With our new $1.5B bio+health & $5B growth funds, we're continuing to invest at pre-seed, seed, series A, series B, & beyond.
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Paying for the $4T healthcare we consume requires better fintech infrastructure, data connectivity, & software tools. @mandrusko1 @dhaber @daisydwolf @julesyoo outline many of the opportunities we're watching @a16z:
1/ The intersection of Healthcare x Fintech = a meaty zone in which to build. But where to start? What makes for a good play? What learnings from general fintech apply? Some thoughts from Team @a16z Healthcare x Fintech:
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Exciting milestone for Thyme Care: Series B to support many more cancer patients in their care journeys. Welcome to new partners @townhallvntrs and @ForesiteCapital and congrats to the @ThymeCares team!
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Three Fintech x Healthtech intersection opportunities highlighted by @julesyoo & @dhaber : .1โฃ consumer payments & lending.2โฃ provider practice enablement.3โฃ unbundling & re-bundling insurance. Hit us @a16z up if you're building at this intersection!.
.@julesyoo and I are very excited about the intersection of Fintech x Healthcare: "As fintech makes its way into healthcare services and software, we see the potential to rewire incentives and remove inefficiencies to pave the way for a more value-oriented healthcare system."
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Going to #HLTH2021?. Come hang w the @a16z team in town๐:@julesyoo @vintweeta @justin_larkinMD @daisydwolf @vmocherla @JFurus @GingerLiau @Marina_kusserow @theraisepartner & me!. ๐ Join us on @Clubhouse Mon AM: โ๏ธThen stop by IRL:
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We @a16z are thrilled to announce our investment in @Alchemy_rx, as they expand access to life-saving medications for underserved communities. Despite spending over $700B each year on pharmaceuticals in the US, we still face wide disparities in access to essential medicines.
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How are healthcare leaders selecting AI products?. New @a16z pod with 10 healthcare AI buyers:
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Go @JenniferHli !! Such incredible news. Couldn't agree more w/ @bhorowitz. Jennifer "embodies the a16z culture.".
So very excited for the promotion of @JenniferHli to GP. She's a primary reason @a16z enterprise investing is what it is, being a key player behind so many deals, our team and our investment philosophy and process. She really is "the best of us".
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Funniest thing I read today on my flight to #HLTH2021 . @healthbjk interview by @nikillinit, covering EHR data access, HL7, FHIR, new ONC interop rules, data highways, & of course, Verona, WI.
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Capability != economics for AI startups historically, but thereโs an increasingly strong economic case for generative AI products across verticals (incl. healthcare!!). @martin_casado at @a16zโs AIR today in SF
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Every cancer patient deserves a trusted companion guiding them to the highest-value care at each step of their journey. @a16z is thrilled to support @ThymeCares in making that happen. @vintweeta explains perfectly why the "time for Thyme Care is now"! .
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Out of stealth: Scribe Therapeutics launches its platform for engineering CRISPR-based genome editing medicines, as well as a $400M+ collaboration with Biogen โ๏ธโ๏ธ๐. Congrats to @BenjaminLOakes, @doudna_lab & the Scribe team.
14/ Scribe represents a major shift in therapeutics, from a discovery approach to an industrialized means to design treatments that address a large class of diseases โ allowing for the rapid development of novel therapeutics to improve the lives of millions of people worldwide.
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Next chapter of our @a16z healthtech GTM series is about selling through channel partnersโPBMs, EHRs, GPOs, TPAs, Plans, etc. If your startup does this, we'd love to hear your perspective and potentially feature you in the blog! Just fill this survey out:
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As we @a16z continue studying GTM motions in healthtech, we would love to hear what has worked for your team. DMs open!. We'll continue posting our learnings on this hub page: @julesyoo @vintweeta @vijaypande @JorgeCondeBio @justin_larkinMD @daisydwolf.
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How can you distribute your healthtechย product more broadly?. One way is by selling through channel partners. @julesyoo, @annie_m_collins, & I explore how in our next GTM piece by the @a16z team:.
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Healthcare biz model nerds ๐ข come help us find & pick the next iconic health tech company to support @a16z.
Are you a healthcare biz model nerd? Get a kick out of Health Affairs articles and digital health 10-Ks? Psyched about the future of virtual-first value-based care? Come be a Healthcare Deal Analyst on Team @a16z bio+health
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Bio platforms are more productive than ever. But with broader applicability comes great responsibility๐ท๏ธ:. How to explore all the good your tech can do, with only the finite resources of a startup?. One way: TEAM UP. @JorgeCondeBio & I offer tips on how.๐.
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After 30 years of trial and error, I still essentially have no idea how different foods affect my long-term health. I don't think I'm alone in that, which is why I'm so inspired by the vision of the @Levels team.
1/ @Jeff_Jordan and I are excited to announce that @a16z is leading @Levels $12M Seed Round to bring biowearables into the mainstream and improve metabolic health.
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Congrats to Thyme Care on their Series C ๐. This allows Thyme to expand their support to many more cancer patients navigating their care journeys. Has been such a joy teaming up w/ @rsboon, @pbcancerdoc, @bjdiephuis & many more friends at @ThymeCares since the Seed. Onwards!
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Consumer healthtech builders -- come learn with us! . @daisydwolf & the rest of the @a16z Bio+Health team are arranging conversations to explore open opportunities to help consumers live happier & healthier lives๐.
๐ฃ Calling all consumer health builders! ๐ฃ We @a16z are planning events โ fireside chats, dinners, & more โ to bring together experts & smart folks in the space. Some virtual & some in person (NYC & SF to start). Interested in joining? Fill out this form!
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1/ My favorite behind the scenes, cutting room floor gem from @a16zโs Bio Eats World podcast yesterday with Dr. Freda Lewis-Hallโthe changing perception around partnerships in the biopharma industry since she joined it in 1994:.
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"There are no more worthwhile endeavors than our most brilliant minds taking great risks to improve the world by doing something larger than themselves.". Excited to team up with those building the future ๐.
1/ Iโm thrilled to announce our fourth @a16z Bio Fund, bringing $1.5B of new capital to invest in the intersection of technology, life sciences & healthcare.
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What is more valuable than our health?. My @a16z partners @vijaypande @daisydwolf start off .#HLTH2022 with a bold prediction: the most valuable company in the world will be a consumer health tech company.
1/We think the biggest company in the world will be a consumer health tech company. Four of the top five biggest companies in the world are consumer companies, and healthcare is one of the nationโs biggest industries. @daisydwolf @a16z @a16zBioHealth .
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healthcare is literally the last market to move from fee-for-service to value-based-care. also, these rates for exec search are crazy.
A trend from exec search firms to be aware of -- more and more they're asking for equity as part of the search, and burying it deep in the docs. 08 to .1 is not unusual. Which is totally crazy. Be sure to run the math before agreeing to something like this!.
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1/ Last month, @vijaypande and I predicted a consumer health company will be the biggest company in the world (โผ๏ธ). This invoked lots of **feelings** ๐คฏ. This month, @julesyoo and I dive into specific areas of consumer health where we see opportunity. A ๐งต:
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My parents lost a son due to complications related to sepsis on Sep 12, 1985 before I was born. Sadly, too many families have stories like this. So I'm particularly inspired by the results of @bayesianhealth's prospective study on their early warning system for sepsis:
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Brilliant & optimistic teams are building at the intersection of biology & computer science to advance human health. @endpts profiled how @vijaypande @JorgeCondeBio @vintweeta @julesyoo & the @a16z Bio+Health crew .have been expanding our efforts to support those teams.
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What's more important than our health?. If you are looking for an intimidating, regulated, complex, but mission critical problem to solve: come to healthcare!.
Hey Tech, Itโs Time To Build. In Healthcare. In the past few months, the founders of Instacart, Spotify, and Coinbase have all started new healthcare companies. Why are these seasoned tech founders jumping into tech-driven healthcare?. 1/.
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All my UK uncles & aunties asking me when I'm moving back to London ๐๐ฌ๐ง.
Great news that @a16z โ one of the worldโs leading tech investment firms, is opening a new base here in London. Another huge vote of confidence in the UK as a place to build and grow tech businesses of the future.
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The hardest problems in AI are in bridging the worlds of bits and atoms. @DaphneKoller sharing why she committed to building an AI company in the life sciences: to deliver better medicines to people who need them. At @a16z AIR in conversation w/ @vijaypande
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Patients deserve transparent prices for the care they need. ๐ฅ๐ฒ. New common-sense regulations are finally unlocking access to prices for all.โ๏ธ๐. @TurquoiseHC is building a provider-payer marketplace to enable fair competition in favor of empowered consumers of healthcare.๐โก๏ธ.
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We call it a healthcare "system", but to a patient leaving a doctor's office, it can often feel like you're on your own.๐ค. Thankfully @memorahealth is building the modern OS for healthcare, connecting silos of care into a continuous, proactive, & intuitive care experience.โก๏ธ๐ฑ๐.
1/ Today, weโre excited to announce a $10.5M financing led @a16z! Memora Health is building an operating system to help modernize how our largest healthcare organizations deliver care.
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Welcome to @a16z @vintweeta . excited to work together again!!.
Vineeta Agarwala @vintweeta, our newest general partner:.
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Congratulations to the one and only Scott Kupor. He is a world class leader, and I have no doubt that the country will be better off from his service. ๐บ๐ธ
Thank you @realDonaldTrump for the opportunity to serve our country in helping @elonmusk, @VivekGRamaswamy and the entire DOGE team make efficiency a central tenet of the federal government
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Thatch is helping businesses of all sizes give their employees better health benefits for less money. Today they announced their $38M Series A financing, and we @a16z couldn't be more excited for the more equitable healthcare future they are building. It has been such a joy
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Developing more life-saving medicines requires expanding our clinical trial infrastructure. ๐๏ธ๐ฌ๐งฌ. Topography is activating new capacity by empowering clinicians to conduct A+ research at their practices.๐ ๏ธ๐ป๐ฅ. @julesyoo articulates why we @a16z are so excited to support! ๐.
0/ Among the many mighty healthcare supply-demand mismatch problems, one of the most vexing is the low % of physicians participating in clinical trials, while most trials enroll insufficient patients, let alone a diverse enough set of patients representative of the population.
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How are healthcare leaders evaluating & deploying AI solutions today?. We @a16z interviewed many of the largest healthcare orgs to highlight how their eval criteria for AI solutions might inform how entrepreneurs bring their products to market.
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Software x biotech builder community in NYC ๐ฝ is strong ๐. Look what you've created @nlarusstone @bitsinbio. Thanks for bringing us together yesterday @apoorvasriniva @tjbollerman ๐.
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Healthcare is burdened with tedious, repetitive, & error-prone tasks that result in admin waste, worker burnout, and suboptimal patient care. New @a16z POV on how AI agents are automating the drudgery across industries, incl. healthcare. Check out post for several examples.
๐ข New @a16z thesis: We believeย AI will automate operations and eat the world of RPA ๐ค. Historically, most ops work couldn't be automated because it was too bespoke and lacked native integrations or APIs, and so was done manually or through imperfect RPA solutions. With
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"We are dedicated to offering the best platform to bring companies from seed through IPO" ๐ฑ๐ฑ๐ฑ.
Weโre excited to announce our $400M seed fund. Seed has always been a core part of our strategy. This fund underscores our commitment to founders on this leg of the journey and to seed investing as first class motion for the firm.
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Benchmarking the cash you burn for every $1M of net ARR you add can help you understand the efficiency of your growth -- regardless of the market environment. To compare, here are burn multiples by stage analyzed by @DavidGeorge83, @justin_kahl, & our @a16z growth team:
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Paying for healthcare is painful, but it shouldn't be. Thatch Health is on a mission to fix it, both for employers & employees. @julesyoo & I @a16z are thrilled to be partnering with Chris, Adam, & the entire @thatch_ai team on simplifying the healthcare financial experience.๐งต
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Build the modern biotech software stack @OctantBioโฆ also you get to refer to yourself as an โOctonautโ, so what else do you need really?.
New year, new job?! We are hitting the ground running in 2022, building and scaling Octantโs Software team with our 2nd, 3rd, and 4th team hires. It's a good time to consider a career as an Octonaut! Check out:
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Today, I'm excited to discuss the opportunities for AI to enable 10x better experiences, economics, and outcomes of healthcare at #jpm2024 with John Rootenberg, MD @Roche, Steve Mutkoski @Microsoft, Megan Callahan at Welsh Carson, and our hosts Alya Sulaiman + Anirudh Goel at the.
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I skipped my coffee this morning and instead listened to this convo w. @Jonathan_Bush & @julesyoo. Woke me right up ๐.
Github for healthtech? @Jonathan_Bush of Zus Health joins @julesyoo on Bio Eats World to talk about the history and future of infusing tech with healthcare.
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"Genomics is currently a laboratory testing-based industry, but in the future it will look very much like an information industry" Sean George, Invitae CEO. Congrats to @ciitizen + @Invitae teams on joining forces to empower patients with their combined genomic + clinical data.
We are thrilled to announce that Ciitizen and @Invitae are joining forces to advance the future of empowering patient control of their medical data. Click here to read the full statement from our founder @anilsethiusa:
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"Every scientist will have an AI assistant/collaborator/partner that will greatly expand their scope of scientific research and achievement. Every artist, every engineer, every businessperson, every doctor, every caregiver will have the same in their worlds.". if we allow it.
Why AI Will Save The World -- my new megapost on why you should be excited, not scared, about AI. Enjoy!.
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Biology is hard. BUT - when you're lucky enough to be around pioneers like @srikosuri @rhomsany - it's hard not to be optimistic about humanity's ability to deal w/ whichever disease nature throws at us. ๐๐ป๐ฌ๐ฅ.
Really excited to be building @OctantBio w/ @a16z and having @JorgeCondeBio and @vijaypande join us. It is indeed time to build!
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My fam @websun23, @ArifNathooMD & the entire @KomodoHealth all-star team accelerating their vision to *learn* from every single interaction in our healthcare system ๐ฅ๐ฅ๐ฅ.
Thrilled to announce weโve closed our #SeriesE round led by Tiger Global and joined by @cascapital. Get ready: we are extending our 7-year lead, executing on our vision to transform healthcare, and accelerating our market impact. ๐
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"We do it for the team" is an @a16z core value & also @sarahdingwang's middle name. 1 of my fondest memories @a16z is my 1st deal team, when I got to work w her (& @julesyoo + @JorgeCondeBio!). Sarah is the ultimate teammate, & I continue to learn so much from her.๐คฉ. Go Sarah!.
Some very excitingย @a16z newsย today. Iโm thrilled to announce that weโve promoted @sarahdingwang to General Partner for the Growth Fund. More below on whyโฆand welcome Sarah to this new role, Iโm proud to call you my partner!ย ย .
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Exciting day @ThymeCares: Dr. Brad Diephuis joins as CBO. Looking fwd to partnering w/ @bjdiephuis as he brings his learnings as a physician, CMS policymaker, entrepreneur, engineer, & cancer survivor to Thyme. Congrats to @rsboon, @pbcancerdoc, & entire TC team! @vintweeta.
Meet our new Chief Business Officer, Dr. @bjdiephuis. The former CMMI advisor will oversee Thyme Careโs business strategy and push forward our mission to change the value-based oncology care landscape. We are incredibly excited to welcome him to the team.
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โผ๏ธ Biotech builders --> How do you best navigate the 3 acts of executing a biotech BD deal? โผ๏ธ. ๐งญ๐บ๏ธ๐ฌ My brilliant @a16z colleagues @beckypferdehirt & @JorgeCondeBio offer a guide, from their experiences in the biotech BD trenches.
1/ Business development is essential for many biotech startups, but thereโs a wide chasm between wanting to partner and signing on the dotted line. @JorgeConde and I offer a beginners recipe book for the sausage making of a biotech BD deal
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Cancer care during the COVID-19 outbreak @vintweeta @pbcancerdoc @sumitshahMD @omnivorousread @a16z .
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Mental healthcare should be accessible to everyone. Grateful to the @try_headway team for leading that future through a software platform connecting patients + therapists + insurers. And glad @a16z has the opportunity to support.
Thrilled that @try_headway has launched in 11 states & raised a Series B led by @skupor at @a16z . We're looking for great people to join us in our mission of rewiring mental healthcare for access and affordability. See roles here .
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Where are network effects possible in healthcare? My holiday reading to find out, thanks to โฆ@andrewchenโฉ!
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Exciting partnership announced today between Walgreens and Pearl Health.
@PearlHealth_ has partnered with @Walgreens to expand access to high-quality, value-based care. Weโre excited to work with the Walgreens team to enable primary care providers to deliver proactive, whole-person care in the communities they serve.
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Inspiring chart for startups. If AI enables a cost structure advantage (eg driverless cars), you can dislodge incumbents, perhaps even those โprotectedโ by network effects as a moat.
Waymo's market share is now equal to Lyft within SF. Incredible. Network effects is one of the best sources of defensibility. But it's proven to be not that important in ridesharing. You need a minimum network size, but once you have that, there are diminishing returns. In
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Simplifying care. at home!๐ ๐ฆฝ๐. Congrats to @vjkedar & the @TomorrowHealth1 + @GeisingerHealth teams on launching this partnership to get patients the medical equipment they need.
I am excited to announce our partnership with @GeisingerHealth. @TomorrowHealth1 is thrilled to be working work with patients, physicians, and medical suppliers to improve home healthcare for over half a million GHP members.
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We want modern healthcare experiences. @memorahealth is empowering leading healthcare organizations with the modern digital health tech stack. Excited to see all that @mnvsevak & the Memora team will build with the added fuel!.
Congrats to the @memorahealth team on closing a latest $40m financing to fuel a next chapter of growth ๐๐ผ. We @a16z led prior seed round; thrilled to continue backing @mnvsevak + team as they bring smart automation at scale to our largest healthcare orgs!.
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If you would like to attend the next one, join the @bitsinbio slack community๐๐ฝ. Meetups in Boston, DC, LA, London, NYC, SD, SF, & more. CC: @nlarusstone.
Full house tonight @a16z for the Software Builders in Bio event with @bitsinbio + fireside chat with @sajithw @benchling ๐ . @JorgeCondeBio @vijaypande @nlarusstone @vintweeta @ZakDoric @daisydwolf @EllenTunoa @kkerames @atcz93
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In the coming weeks, weโll be releasing our interviews with these healthcare leaders, as well as some GTM tactics on pricing, packaging, & defensibility for AI products. For the full post, check out: @daisydwolf, @vijaypande, @julesyoo, @a16zBioHealth.
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Just re-read one of my favorite @firstround articles. Great insights on how to grow teams through times of rapid scaling.
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2/ Today, highly-trained drug researchers spend hours analyzing microscope images - essentially one by one. Itโs a painfully repetitive process that creates bias & error. @Biodockaiโs AI software platform automates months of image analysis in minutes.
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Better saas + fintech tools for care delivery! . @PearlHealth_'s provider enablement software & specialty risk marketplace empowers PCPs to deliver higher quality care at a lower cost in collaboration with financially-aligned specialty care networks. @a16z.
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