# Mike Spadafore

> Mike Spadafore is a Series A investor at Sandbox Industries backing Health Care. See 12 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Sandbox Industries](https://shizune.co/investors/profile/sandbox-industries)
- Location: Chicago, United States
- Total investments: 12
- Last investment: Jul 2025
- Lead investor: 58%
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/in/mspadafore
- X (Twitter): http://twitter.com/mikespadafore
- Website: https://x.com/mikespadafore

Mike Spadafore is an Analyst with the BlueCross BlueShield Venture Funds at Sandbox Industries. Prior to joining Sandbox, Mike was an Experienced Associate with PwC and an Analyst with Diamond Management and Technology Consultants in their Healthcare Strategy practices. During Mike’s management consulting career, he led projects and work tracksfor a number of projects in IT strategy, mobile strategy, and information strategy. Mike holds a BBA from the University of Michigan Ross School of Business.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Health Care | 5 | 42% |
| Information Technology | 3 | 25% |
| Wellness | 2 | 17% |
| Mobile | 1 | 8% |
| FinTech | 1 | 8% |

11 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 2 | 17% |
| Series B | 2 | 17% |
| Series C | 1 | 8% |
| Series D | 1 | 8% |
| Series E | 1 | 8% |

6 stages tracked in total.

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Arbital Health | Arbital Health is a healthcare company that offers a third-party adjudication utility to help bolster outcomes-based healthcare contracts. | $31M | Series B | Jul 29, 2025 |  |
| Autonomize AI | Autonomize AI is a human-centric AI platform that learns from multi-structured clinical and biomedical data and pairs it with human context to aid decision-making and data discovery. They extract contextual information from multi-structured healthcare data, enrich with human know-how, and aid decision-making and data discovery. | $28M | Series A | Jun 12, 2025 |  |
| Atropos Health | Atropos Health rapidly provides personalized real-world evidence for any clinical decision | $33M | Series B | May 23, 2024 |  |
| First Dollar | First Dollar is a healthcare savings platform with a focus on HSAs (health savings accounts) that targets millennials and Gen Z. | $14M | Series A | Jan 27, 2022 |  |
| First Dollar | First Dollar is a healthcare savings platform with a focus on HSAs (health savings accounts) that targets millennials and Gen Z. | $14M | Series A | Jan 27, 2022 |  |
| Wayspring | axialHealthcare connects patients, providers, and health plans with an end-to-end platform that covers the entire substance use spectrum. Our high-tech, high-touch approach mends fractured ecosystems, identifies at-risk patients, and provides timely, interactive tools for clinical decision-making. For patients with substance use disorder, we offera clear path with continuity of care. | $75M | Series D | Sep 28, 2021 |  |
| Prove | Prove is a smartphone-based identity verification startup that specializes in providing phone-centric and API marketplace solutions. Its phone-centric solutions enable its customers to acquire new consumers and engage with their existing consumers by removing friction while bolstering security and enhancing consumer privacy and consumer choice. | $100M | Series H | Jun 18, 2020 |  |
| Prove | Prove is a smartphone-based identity verification startup that specializes in providing phone-centric and API marketplace solutions. Its phone-centric solutions enable its customers to acquire new consumers and engage with their existing consumers by removing friction while bolstering security and enhancing consumer privacy and consumer choice. | $100M | Series H | Jun 18, 2020 |  |
| Wayspring | axialHealthcare connects patients, providers, and health plans with an end-to-end platform that covers the entire substance use spectrum. Our high-tech, high-touch approach mends fractured ecosystems, identifies at-risk patients, and provides timely, interactive tools for clinical decision-making. For patients with substance use disorder, we offera clear path with continuity of care. | $15M | Series C | Feb 27, 2020 |  |
| Wayspring | axialHealthcare connects patients, providers, and health plans with an end-to-end platform that covers the entire substance use spectrum. Our high-tech, high-touch approach mends fractured ecosystems, identifies at-risk patients, and provides timely, interactive tools for clinical decision-making. For patients with substance use disorder, we offera clear path with continuity of care. | $15M | Series C | Feb 27, 2020 |  |

10 of 12 investments shown.

## Co-investors
- [The Blue Venture Fund](https://shizune.co/investors/profile/bluecross-blueshield-venture-partners) — VC Fund, 6 deals together
- [Oak HC/FT](https://shizune.co/investors/profile/oak-hc-ft-partners) — VC Fund, 6 deals together
- [The Blue Venture Fund](https://shizune.co/investors/profile/the-blue-venture-fund) — VC Fund, 5 deals together
- [Apax Digital](https://shizune.co/investors/profile/apax-digital) — VC Fund, 4 deals together
- [Next Coast Ventures](https://shizune.co/investors/profile/next-coast-ventures-2) — VC Fund, 4 deals together
- [.406 Ventures](https://shizune.co/investors/profile/406-ventures) — VC Fund, 3 deals together

## About Sandbox Industries

VC Fund · Chicago, United States

Sandbox is the exclusive partner for connects entrepreneurs innovating in the healthcare space with 25 Blue plans across the country for strategic investment and partnerships. The The firm's innovation consulting business, Sandbox Innovation Partners, connects established corporations with emerging companies and helps them work together through pilots, partnerships, investments, or acquisitions.

5 contacts available at Sandbox Industries.

| Name | Title | Profile |
| --- | --- | --- |
| Andrew Boyd | Vice President | https://shizune.co/investors/profile/andrew-boyd |
| Christian Horn | Associate | https://shizune.co/investors/profile/christian-horn |
| Christian Horn | Associate | https://shizune.co/investors/profile/christian-horn-38f1 |
| Kelsey A. Maguire | Managing Director | https://shizune.co/investors/profile/kelsey-a-maguire |
| Mike Spadafore | Managing Director | https://shizune.co/investors/profile/mike-spadafore |

## 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
- [General Catalyst](https://shizune.co/investors/profile/general-catalyst-partners) — VC Fund

## FAQ

### What does Mike Spadafore invest in?

Mike Spadafore invests primarily in Health Care, Information Technology and Wellness startups, most often at Series A and Series B stage. Most of the 12 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 Mike Spadafore last invest?

The most recent investment recorded for Mike Spadafore closed in Jul 2025. Shizune tracks 12 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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