Salvo Health, which calls itself a virtual health clinic focusing on specialty care for chronic gut conditions, has closed a $5 million “seed prime” round led by City Light Capital and Human Ventures, both based in New York.
The funding included investment from all three of Salvo’s seed investors — Threshold Ventures, Torch Capital and Felicis Ventures, as well as angel investors, such as Anmol Madan, founder of Ginger Health and former chief data scientist at Teladoc. In 2022, the New York startup, led by former Foursquare CEO Jeff Glueck, raised $10.5 million in a seed round.
Underserved Condition
Subsequent to the funding, Rachel Parlier of City Light and Emily Melton of Threshold will join Savio’s board. The company said it would use funds raised to expand its “wraparound” gastro-intestinal care at providers, including private practices, health systems, and accountable care organizations.
“An estimated 70 million Americans are suffering from chronic gastrointestinal conditions that can cause serious disruptions to daily life,” said Heather Hartnett, general partner at Human Ventures. “The growing need for GI care has surpassed the supply of specialists, and Salvo Health plays an important role in filling this gap.”
Founded by the trio of Glueck, Compass’ Avi Dorfman, and Jason Finger, co-founder of Seamless/Grubhub, Savio is rooted in a belief that the conventional medical system underserves chronic GI conditions. Consequently, it seeks to improve the model by helping local providers with so-called “wraparound care,” supplementing their care with telehealth and app-based support.
Hybrid Model
Salvo members get unlimited messaging access to a care team, including a dedicated doctor, health coach and care navigator. Two thirds of care minutes each month are delivered by software and app-based content, while a third is in the form of human service directly by licensed personnel.
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Studies, Savio says, back its hybrid model. One study found that Savio patients had fewer emergency and urgent care visits than others, and led to 50% declines in cases of GI and phencyclidine toxicity. In a 2023 study published at the annual meeting of the American College of Gastroenterology, 84% of patients described Salvo as better than previous healthcare experiences, while 76% reported symptom improvement after only four or more weeks. The company says an actuary’s study of over 9 million covered lives found that Salvo also saves costs — potentially saving payers $3 for every $1 spent.
“There is no quick-fix cure-all for chronic conditions like IBS or GERD, but with the right treatment approach from an expert team, and equipping our members with diverse strategies and tools, we can help people restore balance to their lives,” Glueck, who has degrees from Harvard and Oxford universities, said after Salvo’s seed round in 2022.
“The conventional medical system often underserves chronic GI conditions, so we assembled top minds to provide comprehensive and accessible care through an easy-to-use, app-based approach,” he added.
