Welcome friends! We hope you’ve had time to dry your eyes after Denmark’s stirring group stage win over Europe’s real-life movie villains only nine days after its best player nearly died on the pitch. If that doesn’t make you love sports, nothing will.
To the newsletter!
NFTs and a Fateful Meeting with Virginia
It’s hard to believe that the infamous dot-com bubble popped more than 20 years ago, but I still have two distinct memories from that time period.
One was the incredible run of TV ads, including an absolute murderer’s row of E-Trade spots (Side Effects, Blow’d Up, this Super Bowl gem... suffice it to say, this is a YouTube rabbit hole worth going down). The other was in late 1999 when CNBC’s Power Lunch cut to commercial with, “Coming up next, the members of the hit band Train are day traders!” I distinctly remember thinking in that moment that this had to be a market-top signal. Turns out the Train Omen was only a few months early as the NASDAQ peaked the following March.
Why do we bring this up? The other day a friend sent me this article: Joe Exotic from 'Tiger King' is selling his first NFT collection from his prison cell. Now, we know next to nothing about the NFT markets, but fads are fads and this can’t be a positive signal.
You’ve been warned. Tread carefully.
Our Latest Investment
As our LPs and regular readers know, technology that addresses inefficiencies in legacy industries is a core focus for C2V and there are few industries suffering more from administrative inefficiency than the US healthcare space. In fact, most estimates of administrative waste in US healthcare put the annual cost at anywhere from $100 billion to $300 billion.
Enter Medmo, a MedTech software platform focused on the scheduling, reporting and administration of medical imaging services, a $100 billion annual market.
As with much of the US healthcare market, the interface between doctors and independent imaging centers (which make up 40% of the total market) is entirely manual and highly inefficient, and is a meaningful contributor to overall healthcare cost inflation.
For doctors’ offices, Medmo’s software removes the need to schedule patient tests via phone and email and receive results via fax (remember those?), saving millions a year in administrative costs, while also connecting them with more locations, improving both the patient experience (via more scheduling flexibility) and cost (via low, fixed cost pricing options).
For imaging centers, where the vast majority of costs are fixed overhead, filling empty time slots is critical to operating efficiently, and imaging centers are more than happy to allow patients to pay significantly lower rates (as low as $50 via Medmo) in order to fill those slots.
With such a clear and effective value proposition, we look forward to Medmo’s platform becoming the default referral and scheduling tool for the medical imaging market and playing a meaningful role in reducing overall healthcare cost inflation in the process.
We are happy to announce Caroline Johnson as our summer intern, the daughter of Nick Johnson who is one of our LPs. She has been busy updating our website that’s now filled with new portfolio investments and LPs as well as a look at our founders. Caroline is also running our social media accounts, working on our newsletters, and helping track potential investments.
Portfolio Companies in the News
Portfolio Companies Hiring
Beam is seeking people to fill the following open roles: senior data analyst, influencer + partnership manager, and shopify developer.
Other C2V News
In case you missed it, the Superpowers podcast is back! Season 3 kicked off with Chris’s interview of Kara Goldin, Founder and CEO of Hint Water. You can subscribe here or listen anywhere you get your podcasts.