Jasper Health, a cancer care platform startup, has recently laid off a significant number of its staff, according to insiders. The layoffs affected workers in both engineering and product design departments, with posts on LinkedIn confirming the news. While there is no official word on the number of staff let go, one industry insider who was in contact with affected staff estimates that it amounted to around half of the company’s workforce. The company’s co-founder and CEO, Adam Pellegrini, has not yet commented on the situation.
Back in February 2020, Jasper Health raised a total of $31 million in venture capital, with a $25 million Series A round led by General Catalyst, which is one of the most active investors in the healthcare sector. It also recently purchased an Ohio-based health system called Suma Health. Even with this pedigree though, not all of General Catalyst’s backed health tech startups have guaranteed success.
Jasper Health was formed in 2018 by Redesign Health, a ventures studio with a particular focus on creating new healthcare startups. Redesign itself is backed by LPs like General Catalyst, CVS Health Ventures, and Samsung Next, among others, and has launched 50 healthcare startups, which in total have raised over $1.3 billion. However, this is not the only adversity Redesign has faced this year; it was also reported to have undergone its own layoffs in 2021.
Jasper Health offers a digital but human-led platform that provides care navigation, psychosocial care, remote patient monitoring and patient support. The platform also reports that around 12% of its users are in remission from cancer. Pelligrini, the company’s founder and ex-surgical specialist in the US Army, previously helped build the American Cancer Society’s website and was senior vice president of virtual care and consumer health innovation at CVS Health.
Jasper Health is currently one of the leading companies in the cancer care space. Although it has suffered a major setback with the layoffs, it will undoubtedly be able to leverage its existing network and expertise to rebound from any temporary losses. Competitors in the space include both Thyme Care and Reimagine Care, among others.
