Startup Jasper Health Implements Significant Layoffs amid Challenges

0:00

Jasper Health, a startup specializing in cancer care platforms, has laid off a significant portion of its staff. Engineering and product design departments were notably affected, according to LinkedIn posts from the laid-off employees.

Although the exact number of layoffs couldn’t be independently verified, an industry insider familiar with those affected estimated it to be around half of Jasper Health’s relatively small team. According to PitchBook data, Jasper Health had about 48 employees before the layoffs.

Adam Pellegrini, the co-founder and CEO, did not respond to requests for comment. Attempts to contact the company’s chief operating officer, chief growth officer, and head of marketing via email were also unsuccessful, with messages bouncing back.

In February 2022, Jasper Health raised a $25 million Series A round led by General Catalyst, with contributions from Human Capital, W Health Ventures, Redesign Health, and 7wireVentures. At that time, the company had secured a total of $31 million in venture capital.

Most notably, Jasper is a General Catalyst portfolio company. The VC firm is one of the most active healthcare investors and has made significant moves to integrate new startup technologies into the U.S. healthcare system. Earlier this year, General Catalyst acquired an Ohio-based health system called Suma Health, a groundbreaking move in venture capital. However, this indicates that not all GC-backed health tech startups are immune to challenges.

Jasper was founded and launched in 2018 by Redesign Health, a venture firm and studio focused on creating healthcare companies. Led by CEO Brett Shaheen, Redesign Health claims to have built 50 healthcare startups that have collectively raised $1.3 billion. The firm, which is backed by LPs like General Catalyst, CVS Health Ventures, and Samsung Next, also experienced layoffs earlier this year, according to Fierce Healthcare.

Jasper’s platform offers digital yet human-led care navigation, patient support, remote patient monitoring, and psychosocial care. The company states that about 12% of its users are in remission from cancer.

Pellegrini, the company’s founder, began his career as a surgical specialist in the U.S. Army. He also contributed to building the American Cancer Society’s website, which provides information to patients and caregivers. Prior to founding Jasper, he served as the Senior Vice President of Virtual Care and Consumer Health Innovation at CVS Health.

Jasper Health’s competitors include Thyme Care and Reimagine Care.

Marina Temkin
Marina Temkin
Marina Temkin is a venture capital and startups reporter. Previously, she wrote about VC for PitchBook and Venture Capital Journal. Earlier in her career, Marina was a financial analyst and earned a CFA charterholder designation.

Latest stories

Ad

Related Articles

Leave a reply

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!
Ad
Continue on app