7wire Ventures Research
Investment Thesis & Philosophy
7wire Ventures is a mission-driven venture capital firm based in Chicago, Illinois, focused exclusively on early-stage digital health companies that empower informed, connected health consumers. Founded over a decade ago, the firm believes that transforming patients into active participants and advocates in their health decisions can dramatically improve outcomes, experiences, and overall healthcare system efficiency.
The core thesis centers on empowering the "Informed Connected Health Consumer"—individuals who are provided with the information, insights, and tools needed to make confident choices about their health through mobile-first, experience-led technologies. Unlike traditional healthcare systems that are complex, inconvenient, and often fail to meet individual needs, 7wire invests in companies that remove friction, provide transparency, and enable people to take control of their health journey.
The firm explicitly avoids hot buzzword sectors without fundamental healthcare value propositions. Instead, they focus on solving real, structural problems in healthcare delivery—ranging from chronic condition management and mental health to reproductive health, aging in place, and specialty care navigation.
Investment Stage & Check Size
Stage Focus:
- Primary: Seed stage
- Secondary: Series A (selective follow-ons and strategic companies)
- Typical participation: Both lead and co-lead rounds
Check Size Range:
- Minimum: $100,000
- Maximum: $5,000,000
- Sweet spot: $500,000 - $2,000,000 for seed-stage investments
The firm has recently announced a $217M+ growth and opportunity fund, indicating significant capital availability for follow-on investments in maturing portfolio companies.
Fund Structure & Recent Activity
Fund Status: Actively deploying from multiple vehicles
7wire Ventures manages multiple funds focused on different stages and strategies:
- Core Fund III - Deploying across seed and Series A
- $217M Growth & Opportunity Fund - Supporting scaling portfolio companies
- Hatch Program - Proprietary startup incubation model where 7wire acts as both creator and investor
Recent Activity (2025-2026):
- January 2026: Invested in When (health management platform)
- Ongoing: Active deployments across digital health ecosystem
- Fund Status: Actively deploying with strong momentum
The firm invests alongside a coalition of strategic limited partners, providing portfolio companies with access to healthcare systems, payers, and strategic corporate investors.
Portfolio Highlights & Notable Companies
7wire Ventures has built an impressive portfolio of 30+ healthcare companies across diverse segments:
High-Profile Investments:
- Livongo Health (now Teladoc) - Consumer digital health platform; founded by Glen Tullman (7wire co-founder); IPO 2019 at $3.6B, later merged with Teladoc at $18.5B valuation
- Transcarent - Consumer-directed health and care platform; Glen Tullman CEO
- WellTheory - Whole-person care platform for autoimmune conditions
- Zerigo Health - Connected at-home healthcare solutions
- HomeThrive - Connected health screening and aging in place platform
- Override Health - Healthcare provider workflow optimization
- Jasper Health - Specialty value-based care for joint and back conditions
- Cylinder Health - Specialty care platform for chronic conditions
Investment Team & Leadership
Glen Tullman, Co-Founder & Partner
- Former Founder and CEO of Livongo Health (NASDAQ:LVGO), scaled to $18.5B valuation
- Former CEO of Allscripts (leading EHR and practice management provider)
- Former CEO of Enterprise Systems (hospital resource management systems)
- Visionary healthcare entrepreneur with 30+ years in healthcare IT
- Author of "On Our Terms: Empowering the New Health Consumer"
- 2019 RFK Human Rights Ripple of Hope Award recipient
- Currently CEO of Transcarent (portfolio company)
Lee Shapiro, Partner
- Co-founder of 7wire Ventures
- Former CFO of Livongo Health; integral to 2019 IPO and $18.5B merger
- Former President of Allscripts; led $4B+ in M&A and financings
- Board chair experience: Medidata Solutions (acquired by Dassault Systemes), Tivity Health, Click Therapeutics
- Chair Elect of American Heart Association National Board of Directors (assuming role July 2025)
- JD from University of Chicago Law School; expertise in healthcare law and corporate finance
Robert Garber, Partner
- 35+ years in healthcare investing and operations
- Co-managed six venture funds with $650M+ AUM
- Former Managing Director at Stratus Ventures and KB Partners
- Board member: Cylinder Health, GroundGame Health, HomeThrive
- Expertise in early-stage healthcare and technology operations
Geographic & Investor Profile
Headquarters: Chicago, Illinois
- Address: 444 N. Michigan Ave, Suite 2910, Chicago, IL 60611
Primary Geographic Focus: United States with strength in Midwest healthcare ecosystem and major tech hubs (SF, NYC, Boston)
Lead Tendency: Both leads and co-leads
The firm actively structures rounds where they lead or co-lead, bringing their healthcare expertise and network to bear. They also participate selectively in later-stage rounds for proven portfolio companies.
Engagement & Support Model
Typical Involvement: Active advisor and investor
Unlike traditional VCs seeking board seats, 7wire prefers to be a hands-on advisor and strategic partner:
- Recruiting and hiring support - Leverage healthcare network to build teams
- Business development - Introductions to payers, providers, employers
- Strategic guidance - Healthcare market positioning and go-to-market strategy
- Founder support - Network access and mentoring from healthcare executives
- Series A/B preparation - Strategic guidance for follow-on fundraising
Special Programs:
-
Hatch Program - 7wire acts as creator and investor, building companies from scratch based on insights into healthcare consumer journey and industry trends.
-
Connected Consumer Health Coalition - 7wire convenes strategic limited partners (major healthcare systems, payers, employers) to:
- Provide market feedback to portfolio companies
- Create partnership opportunities
- Facilitate customer introductions
-
Annual CEO Summit - Brings together portfolio company founders for collaboration, peer learning, and customer connection opportunities
Decision Process & Investment Criteria
Decision Process: Partnership model with collaborative evaluation
The firm uses a partnership-driven approach where multiple partners and operating partners evaluate opportunities together. Glen Tullman, Lee Shapiro, and Robert Garber provide experienced healthcare judgment; operating partners provide specialized expertise in innovation and execution.
Typical Timeline: 2-4 weeks from initial conversation to investment decision
Warm Introduction: Not strictly required, but preferred. Founders can reach out through website contact form.
Investment Structure:
- SAFE agreements for pre-seed/early seed
- Priced equity (Series Seed or Seed rounds) for more mature companies
- Board observer rights or advisor roles
Sector & Model Focus
Primary Sectors:
- Digital health (telemedicine, patient engagement, chronic disease management)
- Mental and behavioral health
- Reproductive health and women's health
- Aging in place and senior care
- Specialty care navigation and management
- Pediatric health technology
- Preventive and wellness solutions
- Healthcare provider tools and analytics
Business Model Preferences:
- B2B2C (selling to employers, payers, providers who reach consumers)
- Consumer direct (particularly for chronic condition management)
- SaaS for healthcare providers
- Care delivery platforms with software integration
- Data and analytics for value-based care
Unique Positioning
7wire Ventures operates at the intersection of healthcare domain expertise, operator mentality, consumer-first philosophy, ecosystem relationships, and mission-driven investing. The firm represents a unique blend of healthcare insider knowledge, operational excellence, and focus on practical solutions to structural healthcare problems while building sustainable, scaled businesses.