Q2 2024 Newsletter:

Fund II First Close: Primetime Partners Fund II fundraise kicked off earlier this year with very strong momentum. We are pleased to report that we held our first close earlier this month on $42M. We welcome new strategic corporate partners and family offices as Limited Partners who join our existing Fund I LPs on the continuation of our mission – redefining how we age and improving the quality of life for older adults. In Fund II we will partner with market-defining Founders early in their journey (Seed through Series A+) who are focused on the following six themes:

We will continue fundraising on a rolling basis towards our target of $60M (slightly larger than Fund I) and will hold a final close later this year.

First Fund II Investment: Thrive Health Tech Series A

Thrive Health Tech is building the world’s first healthcare-focused mobile company, using HIPAA compliant mobile devices as its platform to address the digital divide and improve healthcare outcomes through sustained engagement with low-income, Medicaid, and Medicare beneficiaries.

Thrive Health Tech is a strong example of Primetime’s commitment to invest in healthcare engagement solutions for low-income Older Americans, a population that is 13M today and growing at an estimated 6% per year. CEO John Anderson is a former Director of Product Development at Motorola and ex-Head Of Ventures at Asurion. We are excited by his deep understanding of consumer needs in mobile technology; John is complemented by Head of Finance and Strategy Michael Le - previously at Dorilton Capital where he specialized in healthcare. Nashville-based Thrive Health Tech was incubated by Frist Cressey Ventures, with Former Senator Bill Frist, M.D. on its board of seasoned experts. Primetime participated alongside CVS Health Ventures and Frist Cressey Ventures, lead investors of the round. We look forward to supporting Thrive Health Tech in its next chapters.

World Economic Forum Partnership: Primetime is proud to be a partner of the World Economic Forum’s inaugural ‘Prosperity in Longevity’ Challenge, which engages entrepreneurs around the globe to create equitable solutions to improve healthspan and wealthspan. Winners will be awarded with access to a network of key partners, including APG, Cleveland Clinic, IDB Lab, Manulife, Primetime Partners, Stanford Center on Longevity, and Swiss Re. Primetime portfolio company, Aidaly was highlighted in the campaign for its focus on strengthening financial resilience for caregivers and families.

Portfolio Updates:

($) denotes a recent fundraise

Bold: Movement as Medicine for Older Americans joined the Florida Association of ACOs as a new member (FLAACOs) – Bold’s clinical exercise programs are poised to make a profound impact on Florida – the state with the largest older adult population in the United States.

Cenegenics: Global Leader in Longevity and Age Management Medicine continued to add new offerings and partners in Q2, including becoming the official wellness partner of the Premier Lacrosse League.

Connie Health: Tech-Enabled Medicare Navigation Platform expands services to California, North Carolina, and South Carolina. This expansion comes ahead of a tumultuous open enrollment period when some Medicare beneficiaries are expected to lose benefits and coverage, positioning Connie to serve more people in need.

($) CoreCare: Powering Accurate & Timely Reimbursement for Post-Acute & LTC Providers launched a new clinical reimbursement product with Creative Solutions in Healthcare (CSNHC), a top five Skilled Nursing Facility to help teams navigate the administrative challenges associated with 2023 CMS changes. The team raised $1,050,000 to continue fueling product development and customer expansion. Primetime participated in the round.

Earth: Environmentally-Friendly Alternative to Burial and Cremation launched their second composting facility in Las Vegas to expand their serviceable footprint to California and the Southwest. Earth achieved 140% YoY growth with customer NPS scores of 85 and over 100 five-star reviews on Google. On top of that, Arizona, Delaware, Maryland, Minnesota, and Maine all legalized soil transformation this year.

Empathy: The Comprehensive Support System for Loss announced their partnership with Aflac, a leading life insurance company. Today, Empathy’s loss support is offered to 1 in 7 U.S. life claimants.

GetSetUp: Largest Online Platform for Older Adult Enrichment awarded the “Sole Source” provider status for Digital Health & Wellness, Health Literacy programs for Older Adults in the State of Oregon – building on similar status in states such as New York, New Jersey, Michigan, Washington, and Rhode Island

HCG Secure: Extended Care Benefits to Minimize the Financial Burden to Families as part of its mission to improve the aging-at-home experience, HCG Secure has differentiated itself in the marketplace by combining insurance coverage with advocacy and support services.  In an effort to expand and enhance the value and benefits provided to their policyholders, HCG Secure added Carefull and Memory Lane TV to their Advocacy Model to offer stronger support in Fraud and Dementia Care. 

Kintsugi: Voice Biomarker AI Scaling Access to Care was featured as a ‘2024’ Technology Pioneer of the World Economic Forum. The team continues to make quality strides in clinical outcomes across screening, longitudinal monitoring, patient acceptance rates, and machine learning gains across last quarter.

($) Rosarium Health: Solutions for Aging-in-Place raised a $1.5M seed round led by Black Tech Nation Ventures to continue reimagining physical space as care. Rosarium is actively deploying contracts with their first set of Medicaid customers in California.

SafeRide Health: Healthcare Infrastructure (NEMT) Providing Millions of Americans Access to Care won EY’s Entrepreneur of the Year Award (Gulf South Region) – recognizing leaders and businesses who have transformed their industries and made a positive impact on their communities.

Sheer Health: Health Spend Savings and Benefits Navigation emerged from stealth with exciting early results - in less than 18 months, Sheer Health returned back over $3.5M in savings to members and solving nearly 20,000 cases. With over $223B overspent on health insurance annually, Primetime is excited about the team’s room to run. Sheer Health works with all major health insurance accounts, starting to work directly with employers, and you can sign up directly at sheerhealth.com.

Tembo Health: Empowering Families to Navigate the Complexities of Dementia Care announced their partnership with Springwell Senior Living to provide Telemedicine Support for Residents – Tembo will offer 24/7 urgent care telehealth services, enhancing accessibility to quality healthcare for residents while ensuring seamless coordination with community staff and primary care clinicians.

($) Total Life: Online Counseling for Healthier Aging Covered by Medicare closed their Seed round with $1.4 million raised for a total of $3.3 million in funds since inception. Primetime participated in the round. The company is also proud to have crossed the milestone of 50,000 sessions served across 48 states with seniors steadily improving by over 30% on the PHQ9 health scale. 

Womaness: High-Performance Women’s Health and Wellness Brand was featured on Access Hollywood, as co-founders Sally Muellers and Michelle Jacobs were interviewed about Womaness’ momentum.

Primetime in the Media:

Additional Coverage:

• Media: Alan was interviewed by Columbia Business School, joined Katie Greifield on Bloomberg Markets, and was featured on CNBC Squawk Box.

• Podcasts: Abby and Alan joined Guy Adami and Kaitlin Malin on On The Tape.

• Conferences: Primetime was a Sponsor of the AARP Age Tech Summit - Abby, Zoe, Ray, and James attended. Abby spoke at HealthIMPACT Forum NYC. Alan spoke at UJA Tech & Healthy Aging Expo, and the Senior Living Innovation Forum in California.

Summertime Suggestions:

What We are Reading:

What We are Listening to:

Closing Thoughts:

Current events and the headlines are keeping many of us on edge, and definitely slowing enterprise sales cycles. Across our portfolio we see how Founders have adapted product, diversified sales channels and made meaningful progress towards profitability to drive business performance. On average our Founders are sincerely optimistic about how 2024 will wrap and their positioning for 2025. In fact, the NFIB Small Business Optimism Index rose to 91.5 in June 2024, the highest level of 2024 so far (yet still below the series historical average of 97.9). 

Funding also continues to rise. In the first half of 2024, $5.7B was deployed across 266 digital health startups - signaling a strong outlook for 2024 to top 2023 (reported by Rock Health). And our deal flow is also up 12% year over year. As we drive towards an active H2 2024, we look forward to ushering in the next phase of the Primetime platform with Fund II and new partnerships with entrepreneurs, investors, and the growing population of longevity pioneers.

To Good Health,

Abby, Alan, Ray, Zoe, James, Courtney, and Diana

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