have a lot of sensors gathering data about things impacting their health. We can take that and build things of real value and help them make the changes they need to make.
X: Tell me why you chose to take money from these specific investors.
SK: MDV is a great partner because they get healthcare and technology in a really deep way. We are taking a different approach to healthcare; we look and talk and walk like a software company, but we are focusing on healthcare problems, and they get that. We are also a big Internet company, in terms of our product, so getting some of the best Internet investors was really important to us. Having Greylock and Andreessen Horowitz on board is really helpful to us, because these are guys who really understand how you scale to epic sizes. Aydin Senkut at Felicis Ventures helped grow Google from its tiny kernel of 20 people to a huge company and understands how you build the right team and do tremendous deals with others.
AR: In the end we were overcommitted by a good amount for this raise, and we were in the extremely lucky position of being able to pick and choose who we thought were the very best investors. One we have is Collaborative Fund, which invests in sustainable social-good ventures. Being able to put these kinds of people around the table is a unique advantage.
X: So, you’ve hinted that you’re making mobile apps that help people with chronic health conditions through some kind of data collection and analysis. Who do you see as the paying customers? Are you talking about selling apps or subscription services directly to consumers, or offering mobile-based behavioral-health programs to large employers, or both?
SK: We’re taking on a part of healthcare where individuals have a powerful interest in positive change, so we think it’s completely reasonable to think there will be a consumer revenue stream. At the same time, the types of things we are doing will drive tremendous cost savings [for employers]. The focus is to build the best products and get people really living it. Who the economic buyer is, is less important at the moment. We are really focused on delivering the right experiences, and if we get that right the rest will follow pretty easily.
