About Headwater Ventures
Headwater Ventures is a venture capital firm founded in 2021. It is primarily based out of Minneapolis, United States. As of Dec 2025, Headwater Ventures is an active investor, having invested in 10 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from HealthTech to Enterprise Applications and Consumer. Most recently it participated in the $***** Seed round of Automate Clinic Overall, Headwater Ventures portfolio has seen 1 acquisition, namely Cured. A lot of funds co-invest with Headwater Ventures, with names like Techstars sharing a substantial percentage of its portfolio. Headwater Ventures has team of 3 people including 2 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed & Series A
Portfolio Acquisitions
Deals in last 12 months
Headwater Ventures' List of Top Investments
Headwater Ventures has a portfolio of 10 companies. Their most notable investmentis in Automate ClinicTheir portfolio spans across and United States. They have invested in HealthTech, Enterprise Applications, Consumer and 2 other sectors, across stages such as Seed, Series A stages. Here is the list of top investments by Headwater Ventures:
AI-based medical data analysis software for population health management. It uses advanced machine learning algorithms to analyze medical data, providing insights and recommendations to improve patient care. It provides hospital systems with an additional layer of quality assurance for critical decisions across the entire continuum of patient care.
Key facts about Ferrum Health
- Founded Year: 2017
- Location: Sunnyvale (United States)
- Stage: Series A
- Total Funding till date: $31M
- Employee Count: 45 as on Apr 30, 2026
- Investors: Urban Innovation Fund, Blumberg Capital and 11 Others
- Latest Funding Round: Series A, Aug 02, 2024, $*****
- Highlight: Editors' Pick
2. Venteur
Marketplace providing health benefit plans for employers. It provides a platform where employers can offer individualized health benefit plans to their employees. The platform offer tools and support for employers to manage and administer these benefits.
Key facts about Venteur
- Founded Year: 2021
- Location: Sacramento (United States)
- Stage: Series A
- Total Funding till date: $27.7M
- Employee Count: 2 as on Apr 30, 2026
- Investors: GSR Ventures, Techstars and 11 Others
- Latest Funding Round: Series A, Apr 01, 2025, $*****
- Highlight: Editors' Pick
3. Koda Health
Provider of a platform for providing planning for medical care. The company offers advanced medical care plans based on personalized medical records for aged persons. Users can choose health care providers and legal representatives.
Key facts about Koda Health
- Founded Year: 2020
- Location: Houston (United States)
- Stage: Series A
- Total Funding till date: $18.7M
- Employee Count: 35 as on Apr 30, 2026
- Investors: UPMC, Techstars and 9 Others
- Latest Funding Round: Series A, Apr 28, 2026, $*****
- Highlight: Editors' Pick
4. Rezilient
Rezilient provides robotic telehealth devices for clinics. The physicians can assume control of a mobile medical robot in the network, allowing them to deliver telehealthcare physically. Through this device, doctors can perform physical assessments through video conferencing.
Key facts about Rezilient
- Founded Year: 2016
- Location: St. Louis (United States)
- Stage: Series A
- Total Funding till date: $12.6M
- Employee Count: 69 as on Apr 30, 2026
- Investors: Acorn Pacific Ventures, Techstars and 12 Others
- Latest Funding Round: Series A, Aug 22, 2024, $*****
- Highlight: Editors' Pick
5. Cured
Digital marketing tool for healthcare professionals. The solution has features like network management & optimization, patient insight & market automation, and comprehensive & customer experience. It brings together the analytics, technology, and strategy to know which relationships create, manage, and maintain optimal provider networks. It also creates, targeted journeys that drive growth via digital channels.
Key facts about Cured
- Founded Year: 2018
- Location: Chicago (United States)
- Stage: Acquired
- Total Funding till date: $12.5M
- Employee Count: 56 as on Apr 30, 2026
- Investors: Waterline Ventures, UCHealth and 5 Others
- Latest Funding Round: Series A, Sep 15, 2021, $*****
- Highlight: Acquired
Headwater Ventures' Year-on-Year Investment Trends
Headwater Ventures has invested in 10 companies over the last 5 years, with an average of 2 new investments annually in the last 5 years. In 2025, it made 2 investments. Its most recent first time investment was in Automate Clinic.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 2 | 0 | 2 |
2024 | 2 | 0 | 2 |
2023 | 1 | 0 | 1 |
2022 | 2 | 0 | 2 |
2021 | 3 | 0 | 3 |
Headwater Ventures' Investments by Stage
Headwater Ventures has made 6 investments in Seed stage with an average round size of $3.92M and 4 investments in Series A stage with an average round size of $10M.Stage of entry | No. of Investments |
|---|---|
Seed | 6 |
Series A | 4 |
Note: We have considered here, only first round of investments
Headwater Ventures' Investments by Sector
Headwater Ventures has a diverse portfolio, with companies operating in the HealthTech, Enterprise Applications, Vertical SaaS, Consumer and FinTech. Notably, it has invested in 10 Tech companies, 9 Enterprise (B2B) companies, 9 Software companies and at least 4 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
HealthTech | 10 |
Enterprise Applications | 6 |
Vertical SaaS | 3 |
Consumer | 2 |
FinTech | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Headwater Ventures' Investments by Geography
Headwater Ventures has made most investments in United States (10).Headwater Ventures' recent investments
Headwater Ventures has not made any investment in 2026 so far.Here are the most recent investments by Headwater Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Dec 11, 2025 | United States | Seed | 6610 | ||
Feb 03, 2025 | United States | Series A | 8470 | ||
Aug 02, 2024 | United States | Series A | 5961 | [+6] | |
Jul 10, 2024 | United States | Series A | 3763 | [+9] | |
Aug 18, 2023 | United States | Seed | 9104 | [+5] |
Acquired companies in Headwater Ventures' Portfolio
1 company from Headwater Ventures' portfolio has been acquired. The most recent acquisition was Cured in Jan 2024 by Innovaccer for $*****.Here are Headwater Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jan 16, 2024 | Sep 15, 2021 | Series A | 6064 |
Team profile of Headwater Ventures
Headwater Ventures has a team of 3 members including 2 Partners and 1 Venture Partner located in United States. Headwater Ventures' team does not sit on the board of any company as of now.Here is a list of all team members in Headwater Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Minneapolis | - | ||
Partner | Solon | - | - | |
Venture Partner | Minneapolis | - | - |
Co-investors of Headwater Ventures
Over the past 5 years, 75 investors have co-invested in Headwater Ventures's portfolio companies. This includes funds and angels.
- Invested before Headwater Ventures: Blumberg Capital, Vulcan Capital and 11 others have invested in rounds before Headwater Ventures. There is 1 company where Blumberg Capital has invested before Headwater Ventures and 1 company where Vulcan Capital has invested before Headwater Ventures.
- Top Co-investors of Headwater Ventures: 41 investors entered a company along with Headwater Ventures. These include investors like Techstars (2 companies).
- Invested after Headwater Ventures: A total of 21 investors have invested in Headwater Ventures's portfolio after their investments. Top Investors include Informed Ventures (1 company), American Family Ventures (1 company) and Morgan Health (1 company).
Recent News related to Headwater Ventures
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US startup Saile raises $2.2M led by Matchstick VenturesTech Funding News•May 14, 2026•Matchstick Ventures, Headwater Ventures
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Affineon Health Raises $5M for AI-Powered Physician Inbox ManagementHIT Consultant•Feb 05, 2025•Affineon, Green Park & Golf Ventures, Headwater Ventures, Benhamou Global Ventures and 2 others
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AI Startup Secures $5M to Power Physician ProductivityPR Newswire•Feb 03, 2025•Affineon, Glover Park Group, AI Fund, Deepwater Asset Management and 4 others
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Ferrum Health Secures $16m For Vendor-neutral Ai PlatformHIT Consultant•Sep 20, 2024•Ferrum Health, Foundry, WellStar, Headwater Ventures and 10 others
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Photon Raises $9M to Expand Access to Text-Based PrescriptionsHIT Consultant•Aug 16, 2024•Photon, Notation, Flare Capital Partners, Floating Point and 7 others
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Seller Raises $7.6M in Seed FundingFinSMEs•Aug 18, 2023•Venteur, GSR Ventures, Headwater Ventures, Revelry and 5 others
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Venteur Secures $7.6 Million Seed Round Led by GSR Ventures to Revolutionize Employer-Sponsored Health InsuranceInsuranceNewsNet•Aug 18, 2023•Venteur, GSR Ventures, Headwater Ventures, Instreamatic and 6 others
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Koda Health Raises $3.5M to Expand Advance Directives PlatformHIT Consultant•Feb 08, 2022•Koda Health, Ecliptic Capital, Headwater Ventures, Sigma Capital Holding
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Rezilient Health Raises $2.5M to Open Virtual Primary Care CloudClinicsHIT Consultant•Aug 25, 2021•Headwater Ventures, Techstars, Unseen Capital, Rezilient and 1 other
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