We quietly led a pre-seed investment late last year in a company called Pangea Health, founded by Lenny Roth. Today we’re excited to announce that they have officially launched out of stealth and have also raised a seed round, led by Ben Lerer and Graham Brown at Lerer Hippeau.
Pangea Health’s platform pairs healthcare technology companies with sales representatives to promote their products directly to doctor’s offices. By leveraging technology and “feet on the street”, Pangea Health provides their customers not only with access to a new, efficient acquisition channel but also with software that allows them to easily scale and track their provider office marketing spend nationally overnight. For sales representatives, they can work when they want, choose the companies they would like to promote and receive compensation for their work quickly and seamlessly. While health care customers can increase scale and efficiency, we think the best sales representatives can make much more by joining the Pangea Health network than at traditional, W2 healthcare sales jobs.
We have been on the lookout for solutions that provide access to infrastructure and services that were typically built in-house. It’s been one of our main investment themes in health care.
For example, this concept of “renting” what was previously “owned” has been executed in a handful of verticals already: staffing (Wheel), credentialing (Medallion), fulfillment (Truepill) and phlebotomy (Getlabs). These companies have paved the way for Pangea Health to do this for sales by building the first technology-enabled sales network for health care companies.
Last year, we helped a friend and founder, Lenny Roth, conceptualize the idea and got so excited about its potential that we led a significant pre-seed investment to help get the company off the ground. Lenny has spent his entire career on a mission to improve the health care system, and it was immediately clear to us that he was exactly the right type of underdog founder we like to back: smart, scrappy and mission-driven.
Since those early whiteboard sessions a year ago, Lenny has built a world-class team, shipped an incredible product, assembled the largest network of provider sales reps on the planet, and signed dozens of the best health care businesses in the country. If Lenny and his team can do all of this in a year, we can’t wait to see what they do next!