# Headwater Ventures

> Headwater Ventures is a VC fund in Minneapolis backing Health Care and Medical. See 34 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Minneapolis, United States
- Total investments: 34
- Last investment: May 2026
- Lead investor: 3%
- Last fund: Dec 2022
- Last updated: Aug 2026
- Website: https://www.headwater.vc/

Headwater Ventures is a VC fund in Minneapolis focused on Health Care and Medical. Headwater Ventures investing in the modernization of health + care.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Health Care | 25 | 74% |
| Medical | 7 | 21% |
| Software | 7 | 21% |
| Artificial Intelligence | 7 | 21% |
| Wellness | 5 | 15% |

49 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 17 | 50% |
| Pre-Seed | 7 | 21% |
| Series A | 3 | 9% |
| Venture - Series Unknown | 3 | 9% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Saile | Saile is an AI-enabled healthcare workforce platform that automates credentialing, staffing, and scheduling for healthcare providers and facilities. Built by physicians, Saile addresses inefficiencies in healthcare staffing by replacing fragmented, manual processes with a unified, intelligent marketplace.At the core of the platform is Saile’sCredentialing Passport, which allows providers to complete credentialing once and reuse it across multiple facilities, reducing onboarding time from months to days. Saile integrates credentialing, compliance, scheduling, and shift matching into a single system, enabling facilities to fill shifts faster while giving providers access to flexible, high-value work opportunities.Using AI-driven matching and workflow automation, Saile improves workforce utilization, reduces administrative burden, and helps healthcare organizations manage staffing shortages more efficiently. The platform is designed to scale across hospitals, outpatient centers, and other healthcare facilities, with a focus on compliance, speed, and operational reliability.Saile operates as a marketplace and infrastructure layer for healthcare labor, positioning itself as a next-generation alternative to traditional staffing agencies and disconnected credentialing vendors. | $2.2M | Pre-Seed | May 13, 2026 |  |
| Automate.clinic | Automate.clinic functions as a medical practice that connects AI developers with physicians to train and refine healthcare AI models through a Doctor-in-the-Loop™ infrastructure. This setup emphasizes domain-specific expertise for handling complex clinical reasoning, diagnostic uncertainty, and edge cases that generalist training cannot addresseffectively. Physicians engage in intellectually challenging work like evaluating AI outputs, correcting errors, and collaborating via peer reviews and case conferences, all within a community resembling an academic institution rather than a gig platform. |  | Pre-Seed | Dec 11, 2025 |  |
| Sophont | Multimodal foundation models for healthcare | $9.2M | Seed | Sep 11, 2025 |  |
| Elion | Elion is an independent and authoritative digital health software marketplace. Elion is the trusted source for healthcare builders to discover, evaluate, and select the software they need to run their businesses. The company's mission is to improve healthcare delivery by enabling startups and incumbents alike to make better, faster technologydecisions. | $9.3M | Seed | Aug 06, 2025 |  |
| Switchboard Health | Switchboard Health helps payers, health systems, employers, and at-risk providers leverage virtual care solutions at scale. Switchboard Health activates people who need care, match them to the right provider, tracks the quality of their care, and supports them across their entire care journey. It was founded in 2023 and was headquartered in Boise,Idaho. | $2.2M | Venture - Series Unknown | Jun 20, 2025 |  |
| Tembo Health | Tembo Health is a telemedicine company serving retirement homes, senior care centers and skilled nursing facilities to connect patients with specialty services like psychiatry and cardiology. The platform connects the specialists to patient data and collaborates with the nursing staff to provide better care plans. |  | Venture - Series Unknown | Mar 31, 2025 |  |
| Affineon Health | Affineon is the AI inbox that saves provider time. We automatically handle normal and clinically insignificant lab results, and help providers get through abnormal lab results faster. Our AI automatically groups, analyzes, and trends lab results into a smart summary, including possible next steps and a complete patient note. We also route"noise" to staff, reducing the number of messages a physician needs to pay attention to by up to 30%. The result is 5+ hours saved per week per provider. Plus, Affineon tightly integrates with the EHR, so providers don’t need to change their existing workflow. | $5M | Seed | Feb 03, 2025 |  |
| Affineon Health | Affineon is the AI inbox that saves provider time. We automatically handle normal and clinically insignificant lab results, and help providers get through abnormal lab results faster. Our AI automatically groups, analyzes, and trends lab results into a smart summary, including possible next steps and a complete patient note. We also route"noise" to staff, reducing the number of messages a physician needs to pay attention to by up to 30%. The result is 5+ hours saved per week per provider. Plus, Affineon tightly integrates with the EHR, so providers don’t need to change their existing workflow. |  | Seed | Oct 02, 2024 |  |
| Ferrum Health | Ferrum Health is a developer of an enterprise IT and AI patient safety platform for health systems. Ferrum Health provides an artificial intelligence (AI) technology platform for health system executives to prevent medical errors across their patient population, serving as a safety net that uses AI algorithms to assist quality teams in the peerreview of radiology studies. | $16M | Series A | Sep 19, 2024 |  |
| Andy AI | Andy is AI software that completes documentation for nurses during home visits. | $500K | Pre-Seed | Feb 27, 2024 |  |

10 of 34 investments shown.

## Co-investors
- [Techstars](https://shizune.co/investors/profile/techstars) — VC Fund, 12 deals together
- [Matchstick Ventures](https://shizune.co/investors/profile/matchstick-ventures) — VC Fund, 6 deals together
- [High Alpha](https://shizune.co/investors/profile/high-alpha-llc) — VC Fund, 5 deals together
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund, 4 deals together
- [Max Ventures](https://shizune.co/investors/profile/basset-investment-group) — VC Fund, 3 deals together
- [GSR Ventures](https://shizune.co/investors/profile/gsr-ventures-management) — VC Fund, 3 deals together

## Similar investors

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

## FAQ

### What does Headwater Ventures invest in?

Headwater Ventures invests primarily in Health Care, Medical and Software startups, most often at Seed and Pre-Seed stage. Most of the 34 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Headwater Ventures last invest?

The most recent investment recorded for Headwater Ventures closed in May 2026. Shizune tracks 34 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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