Heidi raises $340m and doubles its valuation to $900m
From the day I started Heidi, the ambition was always bigger than writing doctor’s notes.
Dr Thomas Kelly said that on Tuesday, as the company he cofounded announced US$340m of new funding.
The money arrives in two parts. In its announcement, Heidi said Blackbird led a US$100m Series C that values the Melbourne company at US$900m. Phoenix Court, Point72 Private Investments and Headline also took part.
That price is almost double the US$465m Heidi carried last October, when Point72 led a US$65m Series B.
The other US$240m is not equity
The larger half comes from General Catalyst’s Customer Value Fund, and it buys no shares.
Olivia Poh reported for Bloombergthat the CVF is a debt-like instrument. General Catalyst holds no stock and no warrants in Heidi. It funds sales and marketing, then takes a capped share of the revenue that spending produces, on top of getting its...
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