Battery Ventures

Firm Profile

• Stage: Series A (bread and butter), but tracks earlier
• Focus: Early stage + growth. Vertical software, AI-powered applications, healthcare (~80% for Olivia)
• Portfolio relevant: Magnify (payer intelligence — payment integrity, medical audit, prior auth review)
• Key comp shared: Optera (FDE model, selling to payers, risk/governance, 6-12 months ahead of us)

People

Olivia Henkoff (ohenkoff@battery.com)

• 6 years at Battery
• ~80% healthcare focus
• Evolution: admin → clinical → pharma → payer
• Based in NYC, offered to meet for coffee
• Knowledgeable and engaged — validated FDE, payer focus, PDF-first strategy
• Shared market view: procurement is lumpy post-scribe wave, FDE solves adoption hesitancy

Caroline Culmo (cculmo@battery.com)

• Early stage + growth, vertical software / AI applications
• Joined Battery earlier this year
• Penn Huntsman program (undergrad Wharton analog) — connection with Michael
• Set up the intro

Interaction History

Status

Temperature: Warm — genuinely interested, staying close. "A click early" is standard VC framing to keep optionality — her behavior (comp sharing, market intel, in-person offer) says more than her words. Next step: Stay in touch. Meet Olivia in NYC. Don't wait for Series A — re-engage as traction builds.

What They Care About

• FDE model adoption patterns (they're seeing it broadly)
• Payer AI category (have Magnify in portfolio)
• Whether procurement hesitancy is being solved
• Consolidation vs. point solution dynamics

Notes

• This was our first investor call (Jan 13, before all others in the system)
• "A click early" is the standard VC move — don't take it literally. Her actions (comp, intel, coffee offer) tell a different story than the positioning
• Olivia's Optera reference is the most actionable comp we've gotten — should research
• The ambient scribe → upcoding → UM pressure narrative Olivia raised unprompted confirms the market tailwind