Chrysalis Ventures Leads Series C Funding Which Includes New Investor, SSM Partners
Nashville, TN (June 28, 2011) – HealthTeacher, a leading provider of online health and wellness information for children and adolescents, today announced that it has closed $5.27 million in Series C funding led by Chrysalis Ventures with new investor SSM Partners participating. Additional investors participating include Board Members Ted Dacko, Gary Facente, Jon Vice and CEO, Scott McQuigg. In conjunction with the financing, SSM General Partner Casey West will join Chrysalis Ventures Managing Director Koleman Karleski on the company’s Board.
This new round of financing will be used to expand the company’s product offering and management team. Following a 2010 in which HealthTeacher cemented its position as the leader in youth health education, the company is now extending its reach beyond the classroom, engaging children and their families with interactive health and wellness products. The company recently hired John Herbold, Vice President of Product, to lead the development HealthTeacher’s interactive and digital products.
“As child obesity rates reach epidemic proportions, it’s more important than ever to have engaging and interactive health and wellness programs in place to help children and adolescents make healthy choices,” said Koleman Karleski, Managing Director with Chrysalis Ventures. “HealthTeacher is responding to this critical national health problem by providing children and their families with engaging and interactive health content. We’re very excited about HealthTeacher’s tremendous growth and we see great opportunity for the company in the coming years.”
“HealthTeacher is a high growth company with the enviable ability to improve the life of a child forever. Scott and his team are exceptional at what they do and are leading the way toward fighting the illnesses of tomorrow. We couldn’t be more enthusiastic about our new partnership with HealthTeacher,” commented Casey West, General Partner at SSM Partners.
“HealthTeacher’s network of schools and communities using our youth health education solutions now reaches over 5,000,000 youth nationwide. The investment from Chrysalis Ventures and SSM Partners will help us positively impact the health and well-being of more young people,” said Scott McQuigg, CEO of HealthTeacher. “Building upon our foundation of over 10,000 schools, we will continue to evolve the health education resources used by teachers, while reaching beyond the classroom to directly engage students and their families with interactive products to measurably improve youth health.”
HealthTeacher is a leading provider of online health promotion, disease prevention, social/emotional wellness and safety resources for kindergarten through 12th grade and is used by nearly 30,000 teachers nationwide. HealthTeacher helps establish community based youth health collaboratives by developing partnerships between healthcare organizations, businesses, community leaders and schools to address the growing issues affecting the health status of young people. To learn more, visit www.healthteacher.com.
About Chrysalis Ventures
Chrysalis Ventures manages one of Mid-America’s largest funds for early-stage and growth investments with approximately $400 million under management. Since 1993, the firm has invested in over 65 companies, primarily in the healthcare and technology sectors. With headquarters in Louisville, Kentucky, Chrysalis has offices in Cleveland, Pittsburgh, Ann Arbor and Houston. The firm seeks to partner with entrepreneurs to build enduring businesses in industries undergoing significant transformation. For more information, please visit www.chrysalisventures.com.
About SSM Partners
SSM Partners is one of the largest and most experienced growth equity investors in the Southeast. With approximately $300 million under management, the firm has invested in more than 50 companies since its inception. SSM invests in rapidly growing, technology-enabled companies in the business, healthcare, and consumer services industries. Portfolio companies have differentiated and proven business models, large market opportunities, and the ability to generate high returns on invested capital. For more information, please visit www.ssmpartners.com.