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FINANCE | Investment Firms & Funds
generalcatalyst.com

Investments

1266

Portfolio Exits

189

Funds

35

Partners & Customers

10

Service Providers

2

About General Catalyst

General Catalyst is a venture capital firm that makes early-stage and transformational investments. It back entrepreneurs who are building technology companies and businesses, and invests in seed-stage, early-stage, later-stage, and growth-stage companies operating in consumer, enterprise, fintech, crypto, health assurance, software, transportation, big data, and technology sectors. The company was founded in 2000 and is based in Cambridge, Massachusetts.

Headquarters Location

20 University Road Suite 450

Cambridge, Massachusetts, 02138,

United States

617-234-7000

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Expert Collections containing General Catalyst

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find General Catalyst in 17 Expert Collections, including Direct-To-Consumer Brands (Non-Food).

D

Direct-To-Consumer Brands (Non-Food)

37 items

Startups selling their own branded products directly to consumers via online/mobile channels, rather than relying on department stores or big online marketplaces.

H

HR Tech

65 items

S

Store tech (In-store retail tech)

55 items

Startups aiming work with retailers to improve brick-and-mortar retail operations.

U

Unicorns- Billion Dollar Startups

115 items

S

Synthetic Biology

382 items

G

Grocery Retail Tech

16 items

Startups providing tools to grocery businesses to improve in-store operations. Includes IoT tools, customer analytics platforms, in-store robots, predictive inventory management systems,and more. (Does not include on-demand grocery delivery startups or online-only grocery stores)

Latest General Catalyst News

Adonis raises $17.3m to transform revenue outcomes for healthcare providers across the U.S.

May 30, 2023

Adonis raises $17.3m to transform revenue outcomes for healthcare providers across the U.S. Published: 30-05-2023 09:16:00 | By: Pie Kamau | hits: 15 | Tags: Adonis, a Revenue Intelligence and Automation Platform built for healthcare, announced it has raised $17.3 million in Series A financing led by General Catalyst. General Catalyst is joined by existing investors Bling Capital, Max Ventures, and Homebrew. As part of the financing, Holly Maloney from General Catalyst will join the board of directors. The current round comes on the heels of a $5.6 million Seed round announced six months ago – all since the company's founding in 2022. With a total of $22.9 million raised to date and trending to significantly exceed revenue expectations in 2023, Adonis is one of the fastest growing healthcare software companies in the United States. This has been made possible by both the diversity and scale of customers which include private practices, hospitals, revenue cycle organizations, and digital health providers. As a result, Adonis is overseeing the processing of billions of dollars of claims and impacting revenue outcomes for thousands of the nation's providers. Aman Magoon , CPO and Co-founder, Adonis: "Healthcare organizations are tasked with the profound responsibility of managing patient outcomes. Adonis relieves operations teams of the burden of revenue cycle by offering a platform that is modular enough to solve individual pain points while being broad enough to own end-to-end financial operations. Nearly $1 in every $7 spent on healthcare is attributed to revenue collection and other insurance related activities. By driving this cost down, Adonis is poised to make the system more efficient." Amid growing financial challenges experienced by a diverse set of healthcare providers, demand to more predictably collect revenue that's commonly lost in the cracks of revenue cycle management (RCM), has grown exponentially. According to the Adonis Data Science Team, healthcare organizations on average are missing 10-15% of the revenue they expect to collect each year. This is commonplace as a result of the operational fragmentation that exists between patients, payers, and healthcare providers. Powered by data science and automation, Adonis helps providers seek to address the common issues and areas of susceptibility within RCM to work toward creating better, more reliable revenue outcomes. This is made possible by automating the holistic payment collection process, analyzing revenue trends, validating patient insurance data at scale, and bridging the system-of-record gaps between healthcare providers, insurance companies, and patients. Holly Maloney , Managing Director, General Catalyst: "We believe Adonis has cracked the revenue code between healthcare providers and insurance companies with its robust AI-driven payment collection process. On top of the technology, team, and growth, the company is positioned for healthcare providers to seek to optimize the shape of their businesses.Stronger financial positions have the potential to lead to better clinical care and patient outcomes, which is a core part of our Health Assurance thesis. We are looking forward to partnering with Adonis as they aim to innovate the revenue cycle management space for the healthcare sector.'' Akash Magoon , CEO and Co-founder, Adonis: "We couldn't be more excited to partner with General Catalyst on this next phase of growth for our business. As the uncertainty increases in our nation's economic climate, most healthcare operations leaders are looking to drive stronger RCM outcomes. The revenue cycle check-engine light remains on for most providers, and it's difficult to quickly adapt to the ever changing insurer contracts and regulations. We intend on using this injection of capital to expand our provider partnerships throughout the country and further our technological advantages and vision." The latest funding will be used to accelerate product innovation, expand partnerships with major EHR and PMS systems, bolster collaboration with some of the country's largest providers, and continue investment in expanding Adonis's healthcare data processing and linking capabilities.

General Catalyst Investments

1,266 Investments

General Catalyst has made 1,266 investments. Their latest investment was in Zageno as part of their Series D on May 5, 2023.

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General Catalyst Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/25/2023

Series D

Zageno

$33M

No

6

5/25/2023

Seed VC - II

XFlow

$10.2M

No

3

5/16/2023

Seed VC

Hippocratic AI

$50M

Yes

10

5/16/2023

Seed VC

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$99M

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10

5/10/2023

Series A

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$99M

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10

Date

5/25/2023

5/25/2023

5/16/2023

5/16/2023

5/10/2023

Round

Series D

Seed VC - II

Seed VC

Seed VC

Series A

Company

Zageno

XFlow

Hippocratic AI

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Amount

$33M

$10.2M

$50M

$99M

$99M

New?

No

No

Yes

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Co-Investors

Sources

6

3

10

10

10

General Catalyst Portfolio Exits

189 Portfolio Exits

General Catalyst has 189 portfolio exits. Their latest portfolio exit was Pyroscope on March 15, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/15/2023

Acquired

$99M

3

12/19/2022

Acquired

$99M

7

12/9/2022

Reverse Merger

$99M

8

12/6/2022

Acquired

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$99M

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10

11/7/2022

Acquired

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$99M

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10

Date

3/15/2023

12/19/2022

12/9/2022

12/6/2022

11/7/2022

Exit

Acquired

Acquired

Reverse Merger

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

3

7

8

10

10

General Catalyst Acquisitions

7 Acquisitions

General Catalyst acquired 7 companies. Their latest acquisition was Athletes First on March 01, 2023.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/1/2023

Debt

$99M

$2.69M

Acq - Fin

1

4/15/2019

Series B

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$99M

$99M

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10

2/11/2011

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$99M

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10

5/24/2010

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$99M

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0

3/22/2004

Other Venture Capital

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$99M

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0

Date

3/1/2023

4/15/2019

2/11/2011

5/24/2010

3/22/2004

Investment Stage

Debt

Series B

Other Venture Capital

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$2.69M

$99M

Note

Acq - Fin

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Sources

1

10

10

0

0

General Catalyst Fund History

35 Fund Histories

General Catalyst has 35 funds, including General Catalyst Health Assurance Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/20/2022

General Catalyst Health Assurance Fund II

$670M

1

12/17/2020

GC Health Assurance Holdings

$103.5M

1

11/25/2020

GC Venture X

$50M

1

4/9/2020

General Catalyst Group X - Growth Venture

$99M

10

4/9/2020

General Catalyst Group X - Endurance

$99M

10

Closing Date

7/20/2022

12/17/2020

11/25/2020

4/9/2020

4/9/2020

Fund

General Catalyst Health Assurance Fund II

GC Health Assurance Holdings

GC Venture X

General Catalyst Group X - Growth Venture

General Catalyst Group X - Endurance

Fund Type

Status

Amount

$670M

$103.5M

$50M

$99M

$99M

Sources

1

1

1

10

10

General Catalyst Partners & Customers

10 Partners and customers

General Catalyst has 10 strategic partners and customers. General Catalyst recently partnered with Agiliti on December 12, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

12/20/2022

Partner

United States

Health systems are 'all chasing the same staff' to fill roles, UHS CEO says

We hear from Marc Miller , president and CEO of Universal Health Services , as he discusses the health system 's recent partnership with General Catalyst and its push to increase access to behavioral healthcare .

1

11/15/2022

Partner

United States

General Catalyst names 10 additional health systems as partners

General Catalyst and Banner `` are both betting as partners that we 're going to find opportunities where it makes sense to invest together , '' Nordlund said .

1

11/14/2022

Partner

United States

General Catalyst adds UC Davis Health to list of health system partners

This partnership is the latest initiative from UC Davis Health to advance digital medicine through its Digital CoLab .

2

11/14/2022

Partner

United States

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10

11/1/2022

Client

United States

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10

Date

12/20/2022

11/15/2022

11/14/2022

11/14/2022

11/1/2022

Type

Partner

Partner

Partner

Partner

Client

Business Partner

Country

United States

United States

United States

United States

United States

News Snippet

Health systems are 'all chasing the same staff' to fill roles, UHS CEO says

We hear from Marc Miller , president and CEO of Universal Health Services , as he discusses the health system 's recent partnership with General Catalyst and its push to increase access to behavioral healthcare .

General Catalyst names 10 additional health systems as partners

General Catalyst and Banner `` are both betting as partners that we 're going to find opportunities where it makes sense to invest together , '' Nordlund said .

General Catalyst adds UC Davis Health to list of health system partners

This partnership is the latest initiative from UC Davis Health to advance digital medicine through its Digital CoLab .

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Sources

1

1

2

10

10

General Catalyst Service Providers

2 Service Providers

General Catalyst has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

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Service Provider

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Associated Rounds

Provider Type

Counsel

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Service Type

General Counsel

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Partnership data by VentureSource

General Catalyst Team

28 Team Members

General Catalyst has 28 team members, including current Founder, Managing Director, Joel E. Cutler.

Name

Work History

Title

Status

Joel E. Cutler

Founder, Managing Director

Current

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Name

Joel E. Cutler

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Work History

Title

Founder, Managing Director

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Status

Current

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