About HLM Venture Partners
HLM Venture Partners is a venture capital firm founded in 1983. It is primarily based out of Waltham, United States. As of Jul 2024, HLM Venture Partners is an active investor, having invested in 99 companies, with 1 new investment in the last 12 months. It primarily invests in Series C round in United States based startups. Its investments are spread across a wide range of sectors from HealthTech to Enterprise Applications and Life Sciences. Most recently it led the Undisclosed Series C round of mPulse along with Bonfire Ventures. This round also saw participation from SJF Ventures and other investors.
Overall, HLM Venture Partners portfolio has seen 4 unicorns, 5 IPOs and 51 acquisitions including key companies like Tandem Diabetes, Covetrus and Teladoc Health. A lot of funds co-invest with HLM Venture Partners, with names like LRVHealth sharing a substantial percentage of its portfolio.
HLM Venture Partners has team of 14 people including 5 partners.
Key Metrics
Team Members
, &
Portfolio Count
Portfolio Sectors
Portfolio Locations
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Series A, Series C &
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Deals in last 12 months
HLM Venture Partners' List of Top Investments
HLM Venture Partners has a portfolio of 99 companies, including 4 unicorns. Their most notable investments are in Spinal Concepts and Transcend Medical.Their portfolio spans across United States and Ireland. They have invested in HealthTech, Enterprise Applications, Life SciencesÌý²¹²Ô»å 8 other sectors, across stages such as Series A, Series C Ìý²¹²Ô»å 7 more. Here is the list of top investments by HLM Venture Partners:Tandem Diabetes is a developer of devices for continuous glucose monitoring and manual insulin delivery. It develops insulin pumps & other products and services that bring innovation, convenience & style to diabetes management. The first product, the t: slim Insulin Pump, features a sleek, modern design, intuitive touch-screen interface, and a rechargeable lithium-polymer battery. The company claims that this makes them closer to producing a fully automated closed-loop automated insulin delivery device that will not require human intervention to release insulin.
Key facts about Tandem Diabetes
- Founded Year: 2008
- Location: San Diego (United States)
- Annual Revenue: $748M as on Dec 31, 2023
- Stage: Public
- Total Funding till date: $101M
- Employee Count: 1,922 as on Dec 31, 2022
- Investors: CRG, TPG and 5 Others
- Latest Funding Round: Post IPO, May 15, 2020, $288M
- Highlight: Public
2. Covetrus
Provider of practice and prescription management software for veterinary professionals. The company offers veterinary software systems including RxWorks and VisionVPM to optimize practice revenue and streamline processes and workflows. Also, offers integrated software and hardware solutions.
Key facts about Covetrus
- Founded Year: 2010
- Location: Portland (United States)
- Stage: Acquired
- Total Funding till date: $292M
- Employee Count: 3,078 as on Dec 31, 2023
- Investors: Rock Springs Capital, Wellington and 14 Others
- Latest Funding Round: Post IPO, Apr 30, 2020, $250M
- Highlight: Acquired
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: $2.6B as on Dec 31, 2023
- Stage: Public
- Total Funding till date: $104M
- Employee Count: 5,500 as on Dec 31, 2024
- Investors: Athyrium Capital Management, Cardinal Partners and 26 Others
- Latest Funding Round: Post IPO, May 14, 2020, $850M
- Highlight: Public
Cloud-based suite solution for payers, providers and patients. It helps employers to optimize existing wellness programs and on-site clinics. It utilizes proprietary data analysis to generate specific cost information, targeted savings opportunities, and personalized messaging. The features include patient engagement, revenue cycle management, and more.
Key facts about Change Healthcare
- Founded Year: 2007
- Location: Nashville (United States)
- Annual Revenue: $1.35B as on Dec 31, 2014
- Stage: Acquired
- Total Funding till date: $36M
- Employee Count: 11,310 as on Dec 31, 2022
- Investors: Hellman & Friedman, Mitsui Global Investment and 13 Others
- Latest Funding Round: Conventional Debt, Aug 29, 2019, $785M
- Highlight: Acquired
5. Phreesia
Provider of a patient check-in and registration platform for healthcare organizations. The platform replaces the outdated patient clipboard with a free wireless touch screen and swipe card enabled PhreesiaPad. The patient self-service solution includes electronic payment applications, clinical and administrative data collection, and consent form management, online appointment & referral management, revenue cycle management, registration, clinical screening tools, patient engagement.
Key facts about Phreesia
- Founded Year: 2005
- Location: New York City (United States)
- Annual Revenue: $281M as on Jan 31, 2023
- Stage: Public
- Total Funding till date: $109M
- Employee Count: 1,061 as on Dec 31, 2022
- Investors: Polaris Partners, Ascension Ventures and 17 Others
- Latest Funding Round: Post IPO, Nov 13, 2019, $29.4M
- Highlight: Public
HLM Venture Partners' Year-on-Year Investment Trends
HLM Venture Partners has invested in 100 companies over the last 26 years, with an average of 2 new investments annually in the last 10 years. In 2024, it made 2 investments. Its most recent first time investment was in HarmonyCares and most recent follow-on round was in .
Year | No. of Investments | ||
|---|---|---|---|
1stÌý¸é´Ç³Ü²Ô»å | Follow-on | Total | |
2025 (YTD) | 0 | 0 | 0 |
2024 | 1 | 1 | 2 |
2023 | 2 | 2 | 4 |
2022 | 3 | 1 | 4 |
2021 | 3 | 1 | 4 |
2020 | 3 | 3 | 6 |
2019 | 0 | 0 | 0 |
2018 | 3 | 3 | 6 |
2017 | 2 | 2 | 4 |
2016 | 2 | 1 | 3 |
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HLM Venture Partners' Investments by Stage
HLM Venture Partners has made 17 investments in Series A stage with an average round size of $10.2M, 16 investments in Series C stage with an average round size of $28.5M and 15 investments in Series B stage with an average round size of $15M.Note: We have considered here, only first round of investments
Stage of entry | No. of Investments |
|---|---|
Series A | 17 |
Series C | 16 |
Series B | 15 |
Series D | 5 |
Series E | 2 |
Others | 5 |
HLM Venture Partners' Investments by Sector
HLM Venture Partners has a diverse portfolio, with companies operating in the HealthTech, Enterprise Applications, Vertical SaaS, Life Sciences and Healthcare. Notably, it has invested in 76 Enterprise (B2B) companies, 71 Tech companies, 30 Saas companies and at least 27 companies focusing on Software.
Note: We have considered here, only first round of investments
Sector | No. of Investments |
|---|---|
HealthTech | 37 |
Enterprise Applications | 29 |
Vertical SaaS | 21 |
Life Sciences | 14 |
Healthcare | 6 |
Others | 19 |
HLM Venture Partners' Investments by Geography
HLM Venture Partners has made most investments in United States (59), followed by Ireland where it has made 1 investment.
Note: We have considered here, only first round of investments
Country | No. of Investments |
|---|---|
United States | 59 |
Ireland | 1 |
HLM Venture Partners' recent investments
Here are the most recent investments by HLM Venture Partners:
Date | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 08, 2024 | United States | Unattributed | $200M | [+5] | |
May 21, 2024 | United States | Series D | Undisclosed | [+2] | |
Oct 10, 2023 | United States | Series A | $5M | ||
May 12, 2023 | United States | Series A | $20.2M | AlleyCorp [+6] | |
Jan 11, 2023 | United States | Series A | $9M |
Get the detailed list of all investments by HLM Venture Partners. Download now!Unicorns in HLM Venture Partners' Portfolio
Here is a list of unicorns in HLM Venture Partners' portfolio:
ÃØÃÜÑо¿Ëù Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
30 | Value-based healthcare company focused on serving rural areas | 2021 | Nashville | Series D | tgpzhnc | ||
63 | Platform that connects licensed professionals with healthcare facilities | 2016 | Irving | Series A | bxdasbf | ||
60 | Cloud based platform offering practice management tool for providers | 2021 | Corona | Series C | zddkjfj | ||
64 | Online platform to order at home diagnostic tests for all health conditions | 2013 | Dublin | Series D | uezjmpk |
IPOs and Publicly Listed companies in HLM Venture Partners' Portfolio
Here are HLM Venture Partners' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 19, 2019 | Dec 14, 2006 | Series A | $3M | |
Jul 01, 2015 | Nov 23, 2009 | Series A | $8.9M | |
Nov 14, 2013 | - | - | - | |
Feb 12, 2001 | - | - | - | |
Feb 11, 1999 | - | - | - |
Acquired companies in HLM Venture Partners' Portfolio
Here are HLM Venture Partners' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 06, 2024 | Aug 15, 2017 | Series B | $7.25M | |
Oct 04, 2023 | - | - | - | |
Nov 09, 2022 | Feb 09, 2009 | Series D | $22.3M | |
 | Oct 31, 2022 | - | - | - |
Oct 03, 2022 | Aug 13, 2013 | Series D | $15.2M |
Team profile of HLM Venture Partners
HLM Venture Partners has a team of 14 membersÌýincluding 5 Partners and 2 PrincipalsÌýlocated in United States. HLM Venture Partners' team does not sit on the board of any company as of now.Here is a list of top team members in HLM Venture Partners:
Name | Designation | Location | Board Memberships | Contact details |
|---|---|---|---|---|
Partner | Boston | - | ||
Partner | Dedham | - | ||
Partner | Boston | - | ||
Partner | Boston | - | ||
Partner | Boston | - | ||
Principal | New York City | - | , | |
Principal | Boston | - | ||
Advisor | Salt Lake City | - | - | |
Advisor | Boulder | - | - | |
Advisor | - | - | - | |
Advisor | Park City | - | - |
Get the full list of HLM Venture Partners' team & partners for free. Download now!Co-investors of HLM Venture Partners
Over the past 26 years, 323 investors have co-invested in HLM Venture Partners's portfolio companies.
- Invested before HLM Venture Partners:ÌýSandbox Industries, BVF and 105 others have invested in rounds before HLM Venture Partners. There are 3 companies where Sandbox Industries has invested before HLM Venture Partners and 3 companies where BVF has invested before HLM Venture Partners.
- Top Co-investors of HLM Venture Partners:Ìý130 investors entered a company along with HLM Venture Partners. These include investors like LRVHealth (4 companies).
- Invested after HLM Venture Partners:ÌýA total of 86 investors have invested in HLM Venture Partners's portfolio after their investments. Top Investors include Kaiser Permanente Ventures (4 companies), Ascension Ventures (3 companies) and QuestMark Partners (2 companies).
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