About Cardinal Partners
Cardinal Partners is a venture capital firm founded in 1996. It is primarily based out of Princeton, United States. As of Apr 2019, Cardinal Partners has invested in 36 companies. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from Life Sciences to Enterprise Applications and HealthTech. Most recently it participated in the $***** Series B round of Vividion Therapeutics Overall, Cardinal Partners portfolio has seen 7 IPOs and 19 acquisitions including key companies like athenahealth, Alnylam and Privia Health. A lot of funds co-invest with Cardinal Partners, with names like Polaris Partners sharing a substantial percentage of its portfolio. Cardinal Partners has team of 8 people including 3 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 3 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Soonicorns
Cardinal Partners' List of Top Investments
Cardinal Partners has a portfolio of 36 companies. Their most notable investments are in Awarepoint and Awarepoint.Their portfolio spans across United States, Ireland and Portugal. They have invested in Life Sciences, Enterprise Applications, HealthTech and 4 other sectors, across stages such as Series A, Series B and 3 more. Here is the list of top investments by Cardinal Partners:1. athenahealth
Cloud-based administrative tool for healthcare providers. The company has developed EHR, practice management, and population health solutions. The features include EHR, practice management, revenue cycle management (RCM), patient engagement, population health services, care coordination, clinical decision support, and more.
Key facts about athenahealth
- Founded Year: 1997
- Location: Watertown (United States)
- Annual Revenue: $1B+ as on Dec 31, 2017
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $49.1M
- Employee Count: 9,038 as on Jul 31, 2026
- Investors: Ares Capital Corporation, Cardinal Partners and 12 Others
- Latest Funding Round: Series B, Apr 27, 2004, $*****
- Highlight: Acquired
2. Alnylam
Developer of RNA interference-based therapeutics for multiple disorders. Its pipeline includes drugs that are used to treat hereditary ATTR Amyloidosis, acute hepatic porphyria, and treating hypercholesterolemia. It also develops drugs for cardiometabolic diseases, infectious diseases, central nervous system, and ocular diseases.
Key facts about Alnylam
- Founded Year: 2002
- Location: Cambridge (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $17M
- Employee Count: 3,057 as on Aug 31, 2026
- Investors: Colt Ventures, Atlas Venture and 13 Others
- Latest Funding Round: Post IPO, Aug 17, 2020, $*****
- Highlight: Public
Cloud-based PHM technology platform along with a physician quality network. The company claims to build and enable high-performance physician groups and clinically integrated provider networks using technology, team-based care, and wellness programs to help doctors to manage the health of their populations. After becoming Privia members, doctors and patients can access Web-based medical records and communicate via secure email with each other and a team of nurses, nutritionists, health coaches, and other consultants.
Key facts about Privia Health
- Founded Year: 2007
- Location: Arlington (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $442M
- Employee Count: 1,420 as on Aug 31, 2026
- Investors: Goldman Sachs, Annox Capital and 9 Others
- Latest Funding Round: Grant (prize money), 2021, $*****
- Highlight: Public
4. Eko Health
Manufacturer of digital stethoscopes and software for heart disease detection. These devices integrate with mobile applications to provide amplified audio, visual waveforms, and electrocardiogram tracings during patient examinations. The hardware includes attachments for existing stethoscopes and standalone digital units. Software components utilize algorithms to assist in identifying heart murmurs, atrial fibrillation, and reduced cardiac function. These tools facilitate the recording and storage of auscultation data for clinical review and remote monitoring. The technology is designed for use in physical and virtual medical settings to support diagnostic processes.
Key facts about Eko Health
- Founded Year: 2013
- Location: Emeryville (United States)
- Stage: Series D
- Total Funding till date: $195M
- Employee Count: 206 as on Aug 31, 2026
- Investors: 10x Group, StartX and 34 Others
- Latest Funding Round: Grant (prize money), Apr 11, 2025, $*****
- Highlight: Editors' Pick
Provider of telehealth and telemedicine services. It offers virtual care across various specialties, including mental health, weight management, diabetes management, hypertension management, dermatology, and primary care. The platform facilitates virtual consultations with physicians and therapists, providing convenient access to healthcare. Services are available for individuals and organizations, including employers, health plans, and hospitals. The company aims to improve access to quality healthcare through technology.
Key facts about Teladoc Health
- Founded Year: 2002
- Location: Purchase (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $104M
- Employee Count: 5,548 as on Sep 30, 2026
- Investors: Icon Ventures, Scheuermann Investment and 28 Others
- Latest Funding Round: Post IPO, May 14, 2020, $*****
- Highlight: Public
Cardinal Partners' Year-on-Year Investment Trends
Cardinal Partners has invested in 36 companies over the last 27 years, with an average of 0 new investment annually in the last 10 years. Its most recent first time investment was in Vividion Therapeutics and most recent follow-on round was in Ivenix.Cardinal Partners' Investments by Stage
Cardinal Partners has made 14 investments in Series A stage with an average round size of $9.72M, 7 investments in Series B stage with an average round size of $21.1M, 6 investments in Series C stage with an average round size of $79.4M, 1 investment in Seed stage with an average round size of $5M and 1 investment in Series D stage with an average round size of $13M.Stage of entry | No. of Investments |
|---|---|
Series A | 14 |
Series B | 7 |
Series C | 6 |
Seed | 1 |
Series D | 1 |
Note: We have considered here, only first round of investments
Cardinal Partners' Investments by Sector
Cardinal Partners has a diverse portfolio, with companies operating in the HealthTech, Enterprise Applications, Life Sciences, Vertical SaaS and High Tech. Notably, it has invested in 29 Enterprise (B2B) companies, 25 Tech companies, 13 Software companies and at least 8 companies focusing on Saas.Sector | No. of Investments |
|---|---|
HealthTech | 13 |
Enterprise Applications | 11 |
Life Sciences | 11 |
Vertical SaaS | 8 |
High Tech | 2 |
Others | 4 |
Note: We have considered here, only first round of investments
Cardinal Partners' Investments by Geography
Cardinal Partners has made most investments in United States (28), followed by Portugal where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 28 |
Portugal | 1 |
Note: We have considered here, only first round of investments
Cardinal Partners' recent investments
Cardinal Partners has not made any investment in 2026 so far.Here are the most recent investments by Cardinal Partners:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 24, 2019 | United States | Series B | 2338 | [+10] | |
Jun 09, 2017 | United States | Series A | 1622 | - | |
Sep 03, 2015 | United States | Series D | 5844 | [+3] | |
Jun 25, 2015 | United States | Series B | 6765 | [+5] | |
Jun 09, 2015 | United States | Series C | 9944 | [+5] |
IPOs and Publicly Listed companies in Cardinal Partners' Portfolio
7 of Cardinal Partners' portfolio companies have become public. Privia Health got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Apr 2021 at marketcap of $2.36B and Teladoc Health got listed on the New York Stock Exchange (NYSE) at marketcap of $704M.Here are Cardinal Partners' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 29, 2021 | Sep 16, 2014 | Series C | 1138 | |
Jul 01, 2015 | Nov 23, 2009 | Series A | 1684 | |
May 07, 2015 | Apr 18, 2007 | Series B | 3952 | |
Jan 27, 2012 | Nov 16, 2010 | Series A | 4550 | |
May 28, 2004 | Aug 01, 2002 | Series A | 4305 |
Acquired companies in Cardinal Partners' Portfolio
19 companies from Cardinal Partners' portfolio have been acquired. The most recent acquisition was Melinta Therapeutics in Aug 2025 by CorMedix for $*****.Here are Cardinal Partners' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 07, 2025 | Dec 31, 2001 | Series A | 4683 | |
Jun 24, 2024 | Oct 24, 2013 | Series A | 5853 | |
Sep 15, 2022 | Sep 02, 2010 | Series B | 5405 | |
Mar 31, 2022 | Aug 16, 2011 | Series C | 7264 | |
Nov 22, 2021 | Oct 1999 | Series A | 2277 |
Team profile of Cardinal Partners
Cardinal Partners has a team of 8 members including 3 Partners and 5 Venture Partners located in United States. Cardinal Partners' team does not sit on the board of any company as of now.Here is a list of all team members in Cardinal Partners:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | San Francisco | - | ||
Partner | New York City | - | ||
Partner | New York City | - | - | |
Venture Partner | Stanford | - | ||
Venture Partner | San Francisco | - | - | |
Venture Partner | New York City | - | ||
Venture Partner | United States | - | - | |
Venture Partner | San Francisco | - |
Co-investors of Cardinal Partners
Over the past 27 years, 187 investors have co-invested in Cardinal Partners's portfolio companies. This includes funds and angels.
- Invested before Cardinal Partners: Health Enterprise Partners, FOUNDER.org and 18 others have invested in rounds before Cardinal Partners. There is 1 company where Health Enterprise Partners has invested before Cardinal Partners and 1 company where FOUNDER.org has invested before Cardinal Partners.
- Top Co-investors of Cardinal Partners: 66 investors entered a company along with Cardinal Partners. These include investors like Polaris Partners (4 companies).
- Invested after Cardinal Partners: A total of 101 investors have invested in Cardinal Partners's portfolio after their investments. Top Investors include Hercules Capital (3 companies), Blackstone (2 companies) and Military Health (2 companies).
Recent News related to Cardinal Partners
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RxLive Raises $5M in Series A FundingFinSMEs•Jul 28, 2022•RxLive, Cardinal Health, Springtide, Jackson Healthcare and 2 others
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Vividion Therapeutics Announces Oversubscribed $82 Million Series B FinancingPR Newswire•Apr 30, 2019•Vividion Therapeutics, Nextech Invest, Casdin Capital, BVF Partners and 9 others
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Machine Learning Healthcare Startups Get $10M In Seed FundingPYMNTS.com•Jun 04, 2018•Bessemer Venture Partners, Allena, HBM Partners, Frazier Healthcare Partners and 23 others
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Cardinal Partners Leads $6.1M Series A for Cardinal Analytx SolutionsCitybizlist•Sep 27, 2017•Cardinal Analytx Solutions, Cardinal Partners, Premera
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Cardinal Partners Joins $50M Series A for Vividion TherapeuticsCitybizlist•Feb 02, 2017•American Chemical Society, Cardinal Partners
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ARCH launches Vividion Therapeutics with $50M, ex Celgene execFierce Biotech•Feb 02, 2017•Cardinal Partners
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This NYC Startup That Lets You Send Push Notifications To Your Doctor Raised $13M - AlleyWatchAlleyWatch•Aug 13, 2015•Cureatr, Deerfield, Windham Capital Partners, Cardinal Partners and 4 others
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Healthcare group messaging app provider Cureatr raises $13m Series B - SiliconANGLESiliconAngle•Jun 25, 2015•Cureatr, Deerfield, Windham Capital Partners, Cardinal Partners and 4 others
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Cambia Health Solutions - Investment in lifeIMAGELife Image•May 28, 2015•Life Image, MassVentures, Cambia Health Solutions, Cardinal Partners and 4 others
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Goldman Sachs leads $400 mln round for Privia - PE HubPE Hub•Sep 17, 2014•Privia Health, Goldman Sachs, Pamplona Capital Management, Cardinal Partners and 3 others
