SAN DIEGO, Feb. 28, 2023 /PRNewswire/ — BetterNight, a number one supplier of complete sleep care via its digital care platform, introduced right this moment $33 million in development funding led by NewSpring. The financing spherical consists of participation from present buyers HCAP Companions and Hamilton Lane (NASDAQ:HLNE) through its Affect Fund II and different accounts managed by the agency.
“With consciousness surrounding the well being problems attributable to sleep problems rising, the sleep care business is rising shortly and is ripe for disruption. BetterNight’s complete digital care sleep resolution is completely positioned to supply sufferers, suppliers, and payers a superior sleep care expertise,” stated NewSpring Associate Mike Kaplan. “The information exhibits that BetterNight is greatest in school in enabling sufferers to stick to sleep remedy.”
BetterNight gives a full continuum of look after sufferers with sleep problems, from session to prognosis to therapy to long-term teaching. The corporate is concentrated on addressing obstructive sleep apnea (OSA) and insomnia to spice up scientific outcomes, decrease healthcare prices, and enhance affected person lives. BetterNight companions with physicians, well being programs, clinics, and well being plans throughout the US. All companies are supplied digitally within the affected person’s dwelling.
BetterNight will use the proceeds from this transaction to proceed its nationwide growth via partnerships with doctor practices, well being programs, and insurers and to speed up the adoption and development of its value-based sleep resolution to employers and well being plans. The corporate will proceed to spend money on know-how to help affected person engagement and distant affected person monitoring.
“Untreated sleep apnea can dramatically impair a affected person’s high quality of life and put them in danger for quite a few medical situations equivalent to hypertension and coronary heart illness. Our objective at BetterNight is to offer a superior sleep care platform that empowers sufferers to take management of their well being by getting a greater night time’s sleep,” stated BetterNight CEO Dave French. “The NewSpring workforce has a robust monitor report of constructing profitable, scalable healthcare firms, and we consider they’re the right associate to assist energy our firm’s subsequent stage of development.”
BetterNight, headquartered in San Diego, transforms sleep well being with its digital sleep care platform. Outcomes embody decrease prices of care, superior adherence, improved affected person satisfaction, and better well being outcomes. The corporate’s software program platforms empower sleep administration by gathering actionable knowledge from remedy units to drive higher scientific choices. To be taught extra, go to betternight.com or observe BetterNight on LinkedIn: https://www.linkedin.com/firm/betternight
NewSpring companions with the innovators, makers, and operators of high-performing firms in dynamic industries to catalyze new development and seize compelling alternatives. The Agency manages roughly $3 billion throughout 5 distinct methods protecting the spectrum from development fairness and management buyouts to mezzanine debt. Having invested in over 200 firms, NewSpring brings a wealth of information, expertise, and assets to take rising firms to the subsequent degree and past. Partnering with administration groups to assist develop their companies into market leaders, NewSpring identifies alternatives and builds relationships utilizing its community of business leaders and influencers throughout a wide selection of operational areas and industries. To be taught extra, go to newspringcapital.com.
About HCAP Companions
HCAP Companions is a diversely owned non-public fairness agency specializing in offering mezzanine debt and personal fairness for underserved, lower-middle market firms all through California and the Western United States. The agency seeks to speculate $3 million to $25 million in established companies producing between $10 million and $100 million in revenues within the healthcare, software program, companies, and manufacturing industries. HCAP Companions has invested in over 60 firms since its founding and, via ongoing, energetic engagement with portfolio firms, gives value-added assets to assist optimize efficiency and improve enterprise worth. The agency has been acknowledged as an ImpactAssets 50 fund 9 years operating and, via its Gainful Jobs Strategy™, works to facilitate a optimistic affect on underserved companies, their workers, and their communities via energetic portfolio engagement. For extra info, please go to http://www.hcap.com/.
About Hamilton Lane:
Hamilton Lane (NASDAQ: HLNE) is among the largest non-public markets funding companies globally, offering modern options to institutional and personal wealth buyers world wide. Devoted solely to non-public markets investing for greater than 30 years, the agency at the moment employs practically 600 professionals working in workplaces all through North America, Europe, Asia Pacific, and the Center East. Hamilton Lane has roughly $832 billion in belongings underneath administration and supervision, composed of practically $108 billion in discretionary belongings and over $724 billion in non-discretionary belongings, as of December 31, 2022. Hamilton Lane makes a speciality of constructing versatile funding applications that present purchasers entry to the total spectrum of personal markets methods, sectors, and geographies. For extra info, please go to www.hamiltonlane.com or observe Hamilton Lane on LinkedIn: https://www.linkedin.com/firm/hamilton-lane/.