TLDR:
– General Catalyst’s CEO, Hemant Taneja, cofounded the healthcare startup Commure in 2017 with over $1 billion in funding from investors.
– Commure has undergone significant growth through acquisitions but has faced challenges with leadership turnover and missteps in its original mission.
In the venture capital world, startups usually have to fight tooth and nail to prove they’re worthy of investors’ attention. That is, unless the startup is itself the brainchild of an ultra-powerful VC. Hemant Taneja, the CEO of top venture firm General Catalyst, cofounded the healthcare startup Commure in 2017, and launched it in 2020. According to PitchBook, Commure has raised well over $1 billion since then from General Catalyst and other investors. Commure has made six acquisitions in four years, leading to a $6 billion valuation with merging with another of General Catalyst’s portfolio companies. However, Commure has faced challenges and missteps, including leadership turnover and departing from its original mission around building a data platform.
Now, Commure seems to have settled on a vision to compete in the healthcare administrative tech landscape. It has acquired public medical scribe company Augmedix in a $139 million deal, reaffirming its focus on tech to automate healthcare administrative tasks. Despite challenges and setbacks, Commure enjoys luxuries not available to other healthcare startups, including a network of partners and cash from General Catalyst. Regardless, Taneja is deeply invested in the success of Commure and is determined to see it through.
