7wire Ventures

About

7wire Ventures is a Chicago-based venture capital firm focused exclusively on digital health, founded in 2013 by Glen Tullman and Lee Shapiro ¹². The firm’s name is an homage to the seven copper wires that composed the first transatlantic cable, reflecting the founders’ belief that connecting and communicating can transform relationships to create value ². Tullman and Shapiro previously worked together for more than 30 years across more than 25 companies, including leading Allscripts as CEO and President respectively, where Shapiro oversaw roughly $3 billion in mergers and acquisitions ²³.

The firm manages over $500 million in assets under management across multiple funds ⁴⁵. In 2018, 7wire closed a $100 million Connected Consumer Health Fund backed by a coalition of eight U.S. health services organizations including Cigna, Memorial Hermann, and Rush University Medical Center ⁶⁶. In 2021, the firm raised a $150 million Connected Consumer Health Fund ⁷. In October 2023, it closed its largest fund to date, a $217 million Growth & Opportunity Fund, with two-thirds directed to follow-on investments in existing portfolio companies and one-third allocated to Series B and C rounds for new companies ⁵⁸.

A distinctive feature of the firm is its Connected Consumer Health Coalition, a network of strategic limited partners including health plans (Cigna, Florida Blue, Arkansas BlueCross BlueShield, Horizon Blue Cross Blue Shield of New Jersey), health systems (Memorial Hermann, Rush University Medical Center, Atlantic Health System), and large employers (Boeing) ⁶⁶¹. This coalition provides portfolio companies with distribution advantages, proprietary deal flow, and real-world strategic insight ¹.

7wire also operates a proprietary “Hatch” program, an incubation model where the firm conceives and builds companies from scratch when it identifies unmet market needs ⁹¹⁰. Notable hatched companies include Livongo and Transcarent ⁹¹⁰. The firm’s portfolio comprises 10-15 companies per fund, selected from fewer than 1% of reviewed opportunities ¹.

The firm’s most prominent outcome is its early investment in Livongo Health, a chronic disease management platform that went public in a $355 million IPO in 2019 and was later acquired by Teladoc Health in a transaction valued at $18.5 billion — one of the largest digital health exits in history ⁴¹¹¹. Transcarent, another company hatched by 7wire in partnership with General Catalyst, achieved unicorn status in 2022 and raised a $126 million Series D in 2024 at a $2.2 billion valuation ¹²¹³.

Stated Thesis

7wire Ventures publicly describes its core investment thesis as “the rise of the Informed Connected Health Consumer” ¹⁴. The firm states that it believes technology and technology-enabled services can empower individuals to make smarter health and care decisions, access care more conveniently, and ultimately drive better outcomes at lower costs ¹.

Robert Garber has stated: “From day one of 7wireVentures, we have relentlessly focused on investing in solutions that align with the concept of creating an Informed Connected Health Consumer” and “We envision a future in which consumers are provided with the tools, technology, and information needed to make smart health decisions much as they do in other facets of their life” ⁴.

The firm publicly focuses on five digital health segments: connected care (personalized remote monitoring), data analytics, personalized consumer markets for health decision-making, population health, and consumer engagement around health innovation ⁶. Its stated investment areas include virtual and hybrid care models, chronic condition management, behavioral health, care navigation, aging in place, and underserved populations ⁵⁸¹.

Glen Tullman has stated: “Working at 7wireVentures allows me to look at the best companies and the best ideas that are out there…It’s a source of energy for me” ¹⁴. He has also expressed the firm’s focus on simplifying the consumer experience, stating: “Everything people do is on their phone, so healthcare should be too” and “High-quality care should be easy to access and easy to afford” ¹⁵.

Inferred Thesis

Based on 28 verified portfolio investments, 7wire Ventures’ actual investment behavior closely aligns with its stated thesis — the firm is genuinely a pure-play digital health investor with no meaningful investments outside healthcare.

Sector breakdown (28 verified investments): - Chronic disease management / virtual care: 8 of 28 (29%) — Livongo, Transcarent, Parsley Health, Zerigo Health, WellTheory, CirrusMD, Medisafe, Override - Mental / behavioral health: 4 of 28 (14%) — NOCD, Brightline, Jasper Health, Caraway - Care navigation / population health: 4 of 28 (14%) — GroundGame.Health, ConsejoSano, Yaro, Lightbeam - Caregiving / aging in place: 2 of 28 (7%) — Homethrive, HomeThrive (same company, different stages) - Health insurance / benefits: 2 of 28 (7%) — When Insurance, PayZen - Medical devices / diagnostics: 2 of 28 (7%) — Truvian Sciences, Higi - Other digital health (care delivery, education, wellness): 6 of 28 (21%) — MedArrive, FOLX Health, CareDox, Ayogo, EosHealth, ZestHealth

Stage distribution: The firm invests across stages but concentrates on seed and Series A, with initial check sizes of $100K-$5M ¹⁶. Its $217M Growth & Opportunity Fund targets follow-on investments and Series B/C rounds for new companies ⁵⁸. The firm has demonstrated a strong pattern of following on into later rounds of its best-performing companies (NOCD seed through $34M round; PayZen Series A through $20M follow-on; Homethrive Series A through $20M follow-on; Zerigo Health early round through Series B) ^17181920.

Geographic concentration: The firm is headquartered in Chicago and has notable concentration in Illinois-based companies, though the portfolio is geographically diverse with significant representation in California ¹¹.

Founder profile patterns: 7wire has a distinctive “operator-led” approach, with managing partners who have built and scaled healthcare companies themselves. Several portfolio companies were actually incubated (“hatched”) by 7wire’s own partners, blurring the line between investor and founder ⁹¹⁰. The firm shows a preference for founders addressing specific underserved populations — the LGBTQIA+ community (FOLX Health), Spanish-speaking communities (ConsejoSano), children and teens (Brightline, CareDox), seniors (Homethrive), and people with specific conditions like OCD (NOCD) ^2122231724.

Co-investor patterns: The firm’s Connected Consumer Health Coalition means its strategic LPs (Cigna, Memorial Hermann, Rush, etc.) frequently co-invest or serve as early customers. General Catalyst is a key co-investor, particularly through the Livongo and Transcarent partnership ¹²¹³. Other frequent co-investors include Redesign Health, Human Capital, and Kaiser Permanente Ventures ¹⁷²⁵.

Notable gap vs. stated thesis: The firm’s emphasis on the “consumer” in healthcare is genuine, but many portfolio companies are B2B (selling to employers, health plans, and health systems) rather than direct-to-consumer. Robert Garber has acknowledged this, saying the firm builds “B2B companies focused on addressing care costs and improving consumer health” ⁸. The consumer thesis is about the end-user experience, not the business model.

Decision speed: Approximately 2 weeks ¹⁶.

Portfolio

This table represents 28 of approximately 44 known investments (~64% coverage) ¹¹. Investment years marked with “~” are approximate based on available funding announcements.

In Their Own Words

“Our current investment portfolio reflects our vision to use the power of mobility, connected devices, the cloud, and sophisticated analytics to further advance industries like healthcare and education.” — Glen Tullman, 2013 ²

“We founded 7wire on the concept of disrupting the status quo—supporting new ideas, technologies, approaches, and business models for solving society’s most important problems.” — Lee Shapiro, 2013 ²

“We believe that if you can connect and communicate with one another, you can transform relationships to create value.” — Lee Shapiro, on the meaning of the firm’s name ³

“I think the best disruptive idea so far has been the idea behind Livongo. We believed that we could improve the customer experience, improve clinical outcomes and lower the cost of care.” — Glen Tullman ¹⁴

“Care is still too expensive, and we’re not getting the outcomes we deserve.” — Glen Tullman ¹⁴

“We’re not the kind of investor that just shows up once a quarter… We really are committed to talking to you weekly — sometimes daily.” — Alyssa Jaffee, Partner ⁸

“The most durable companies are built by people who do not have an exit strategy so much as a clear vision and a mission that cannot wait.” — Glen Tullman ¹⁵

“A founder should be able to explain the value in a few words.” — Glen Tullman ¹⁵

What Founders Say

“I didn’t realize how important it was to have people in your corner who could help you through the inevitable difficult times when you’re building a company. Your success as an early stage CEO is so tied to the people who are your investors and your advisors.” — Abner Mason, Founder and CEO of ConsejoSano, a 7wire portfolio company ³¹

No additional independently sourced founder testimonials found beyond 7wire’s own interview series (“Top of the Ladder”). The firm’s website features interviews with portfolio founders including Stephen Smith (NOCD), Andy Hamilton (When Insurance), Susan Rawlings Molina (GroundGame.Health), and Dan Michelson (InCommon), but these are firm-produced content rather than independent testimonials ^32333435.

Sources