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American Enterprise Ventures leads $1.75 million seed round in healthcare company

January 8, 2020

American Enterprise Ventures (AEV) announced this week that lead a $1.75 million seed round in Repisodic, a healthcare technology company based in Philadelphia.

Repisodic has created a platform used by discharge planners that provide patients with the tools they need to evaluate, understand, and confidently choose post-acute care and other follow-up care services for when they leave the hospital or other care setting. The platform reduces hospital length of stay; increases use of preferred networks, high-quality healthcare providers, and services; and increases patient satisfaction throughout the discharge and care transition process.

The company plans to use the investment to recruit and hire sales, marketing, and technology personnel in Q1 of 2020.

“Repisodic is a fantastic add to our ecosystem of solutions supporting and expanding our customer experience. We feel the solution fills a gap in our short-term care insurance market and will help transform our interactions with our customers. The company and its founders have the stamina to grow the platform nationwide, and we are excited to be part of that growth,” said Julie Pearce, Director of Innovative Solutions for AEV.

American Enterprise Ventures is a Des Moines-based venture capital company backed by American Enterprise Group. AEV’s investment strategy focuses on early-stage startups in the insurance, finance, and healthcare industries. With initial investments of up to $1 million, AEV’s funds are typically made in seed and Series A round startups.

AEV recently led another $500,000 round in CareValidate, an Atlanta-based company that has created a life-saving light bulb for seniors.
AEV invested $300,000 in CareValidate, with the additional $200,000 of funds coming from angel investors.

Tags: American Enterprise Ventures Funding Repisodic

American Enterprise Ventures leads $1.75 million seed round in healthcare company | Clay & Milk

A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.

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