Inside digital health's reckoning, where once-hot startups are suddenly scrambling for cash
In the absence of IPO funds, and burning through cash fast, Komodo raised an additional $200 million from investors in November. Web Sun, one of the cofounders,The"structured equity" deal didn't affect Komodo's valuation, a spokesperson for the company said. But structured equity comes with terms thatDeals with more structure will become the norm in 2023, multiple industry observers told Insider. Besides equity deals, companies can raise, which won't affect their valuation.
Many startups are making sacrifices to appease new and old investors, such as slashing how much money they're spending. When the startup raised new funds in November, an investor backed Truepill on the condition that it reduce its expenses, the two former employees and a current employee said. A spokesperson for Truepill told Insider in an email that the company's burn rate was in line with its projections.Truepill CEO Sid Viswanathan.
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