What You Should Know:
– OncoveryCare (formerly VivorCare) has closed an oversubscribed $4.5 million seed financing to launch its novel cancer survivorship care model.
– The fundraise was led by .406 Ventures alongside the McKay Institute for Oncology Transformation at Tennessee Oncology. Tennessee Oncology, which treats half of Tennessee’s cancer patients at 35 sites, is also a founding member of OneOncology, a fast-growth oncology platform dedicated to supporting independent oncology practices through capital, technology and expertise.
OncoveryCare Secures Seed Financing and Partners with Tennessee Oncology to Revolutionize Cancer Survivorship Care
OncoveryCare is making strides in cancer survivorship care with its latest Seed financing round, led by .406 Ventures and supported by Oncology Ventures and Techstars. Concurrently, OncoveryCare announced a strategic partnership with Tennessee Oncology, enabling the company to extend its care model to patients throughout Tennessee.
The population of cancer survivors in the US is projected to double from 11 million in 2008 to 22 million by 2030, driven by the rising incidence of cancer and improved survival rates due to advancements in treatment. Cancer survivors face significant post-treatment needs, including management of cardiotoxicity, cancer-related fatigue, complex screening and monitoring protocols, as well as mental health challenges such as anxiety and depression related to their diagnosis and treatment. Despite these needs, survivorship care is often fragmented and unstructured, relying heavily on an overburdened oncology workforce, which results in high costs and suboptimal outcomes. OncoveryCare aims to address this gap in the cancer care continuum.
Launching with a virtual care model, OncoveryCare provides a comprehensive support system for cancer survivors through a team of clinicians specialized in survivorship. The initial focus areas include toxicity management, mental health support, navigation and care planning, and preventative care. To facilitate the deployment of this model, OncoveryCare has partnered with the McKay Institute, the innovation arm of Tennessee Oncology, one of the nation’s largest community-based cancer care providers. This partnership will help scale the intervention across Tennessee Oncology’s survivor population with the broader aim of extending it to the wider oncology community.
The Seed financing will empower OncoveryCare to expand its care delivery model and develop new tools and approaches to broaden access to high-quality survivorship care. By offering comprehensive, whole-person care, OncoveryCare supports the rapidly growing population of cancer survivors, ensuring they receive the personalized, longitudinal care needed to lead healthier and happier lives.
“Survivorship is the next frontier in cancer care delivery,” explained Hil Moss, Co-founder and Chief Executive Officer of OncoveryCare, whose own experience as a breast cancer survivor motivated her to launch the company. “For decades we have been focused on finding the cure for cancer. Now we have to answer the question: what happens when people survive?”