Former TEDCO executive McKeever “Mac” Conwell II’s Rare Breed Ventures and tennis great Serena Williams have joined a $12 million Series A for Juno Medical, a New York healthcare firm bidding to reinvent the family clinic.
The funding round was co-led by Serena Ventures and Next Ventures, both of which are headquartered in San Francisco. Other notable investors included Doug Chertok’s Vast Ventures (New York), which led Juno’s seed round, Empire State Development’s New York Ventures, TXV Partners (Austin, Texas), Genius Guild (Chicago) and Gaingels (Burlington, Vt.), and previous investors Atento Capital (Tulsa, Okla.) and New York’s Humbition.
“Juno’s vision is to reimagine the future of healthcare by finally making exceptional, family-centered care accessible and affordable for the 99% all across the United States,” said Juno founder and CEO Dr. Akili Hinson, who was previously a consultant at McKinsey with expertise in digital transformation.
Williams, who serves as Serena Ventures’ managing partner, said Juno would redress “equity issues in healthcare, mental health and wellness services that many communities face.” Its talented team has “the vision, model and track record to disrupt the unacceptable status quo in healthcare,” she added.
Juno, which runs two clinics in New York, will use the funds to further develop its technology platform and expand into new markets, including Atlanta, Ga., Tulsa, Okla., and Los Angeles.
Leveraging Twitter
Rare Breed Ventures was founded in 2020 in the middle of the coronavirus pandemic by entrepreneur and former TEDCO executive McKeever “Mac” Conwell II. Conceived as a pre-seed-stage fund that places up to $250,000 in startups, the fund aims to bridge minority entrepreneurs’ funding gap. Rare Breed accepts investments only from accredited investors, “meaning individuals investing in the fund must earn at least $200,000 a year,” according to Technical.ly.
In his entrepreneurial journey, Conwell started three companies, one of which turned successful. He later worked for TEDCO, Maryland state’s technology investment fund, where he gained insights into venture funding. He left TEDCO to start Rare Breed Ventures and reportedly overcame significant challenges before putting together a $40 million fund. In an interview with Technical.ly, Conwell credited his creative use of Twitter for the eventual success in attracting investors.
“80% of the money I raised in my fund came through connections on Twitter,” Conwell told the digital publication. Every time an investor followed him on Twitter, he would send a direct message and set up a meeting — over 1,000 in all, and up to 25 a day at its peak, Technical.ly said. Conwell is assisted in his venture by Jonathan Kroll, a former two-time founder who has worked at Andreessen Horowitz and Spero Ventures. Rare Breed’s recent investments include Wove, Co:Create, Triangle, DNABlock, Nectar, Jefa and EarlyBird.
Over 60 Investments
Serena Williams, widely hailed as the greatest woman tennis player ever, recently announced her retirement from the game. She has held the World No. 1 ranking in singles on six separate occasions since 2002, and has won 23 Grand Slam singles titles. She established Serena Ventures in 2014 to build a business career ahead of her retirement, and to help minority entrepreneurs. So far, Serena Ventures has made over 60 portfolio investments, and four exits.
Alison Rapaport Stillman serves as a founding general partner of Serena Ventures, overseeing portfolio management and sourcing investments. She holds a BS from the University of Pennsylvania’s Wharton School and an MBA from Harvard Business School.
Commercial Real Estate
MacKenzie Companies
Advertising / Media / Communications / Public Relations
Nevins & Associates
Financial Services / Investment Firms
Chesapeake Corporate Advisors
Commercial Real Estate
Monday Properties
Venture Capital
Blue Delta Capital Partners
Internet / Technology
Foxtrot Media
Tech-enabled Care
Juno is counting on technology to advance its model of hybrid healthcare — in-person as well as via e-health platform — besides enhancing quality of care. It seeks to bring together the best of primary care, pediatrics, women’s health, same-day care, and virtual care into one “thoughtfully designed” experience. Juno works with most types of insurance, including commercial plans, Medicare and Medicaid. It also offers additional plans starting at $20 per month per person or $50 per month per family, for additional services with added conveniences like night and weekend appointments, and savings.
Juno’s first location opened in the Harlem neighborhood of New York City in April 2020, at the height of the Covid-19 pandemic. It opened another in Brooklyn later. In 2023, it expects to open two new clinics in the historic neighborhoods of East Atlanta, Ga., and Greenwood in Tulsa, Okla. Its current plans include a clinic in Inglewood area of Los Angeles.
