Meeting: Sorensen Capital

Date: 2026-02-06 Attendees: Thomas Startz, Michael Yuan, Chris Hulme (Sorensen Capital) Type: Intro (connected through Eric, Sorensen partner) Duration: ~32 min

Summary

Very positive intro call. Chris immediately understood the problem space — drew detailed parallels to their portfolio company (AI platform for skilled nursing facilities dealing with similar reimbursement/clinical data challenges). He described it as "huge problem, messy, sounds like a good opportunity." Fast process: will share with Eric Friday afternoon, team review Monday, feedback Monday PM or Tuesday AM. Offered to send deck. Strong rapport — Chris has an operator background (ran an e-commerce company) and values being hands-on with portfolio companies.

Questions Asked

#	Question (verbatim/near-verbatim)	Topic	Answer Quality	Notes
1	"Maybe a little bit more depth on the product, some of the use cases"	Product / Technical	strong	Thomas gave detailed UM concurrent review explanation. Chris drew SNF parallels unprompted — sign he deeply understood it.
2	"Sounds like you could sell this to hospitals as well as insurance companies — curious what the differences are in selling to who"	GTM / Strategy	strong	Clear payer-first rationale: larger pain point for payers, hospitals harder to sell to but reached through outsourcers. Payer stock prices as pressure signal.
3	"You guys have been just bootstrapping so far, it's just you two today?"	Team	strong	Confirmed. Got good at coding. Chris seemed impressed.
4	"Raised 2 million bucks — who would be the next hires, what does the team look like, what milestones do you hope to get, and if you could paint a picture of any partner to work with what would they look like?"	Fundraise / Strategy	strong	2 more technical PhDs + 1 clinical/GTM (Cassie). 24 months runway. Triple/quadruple client base in a year. Looking for tech + healthcare experience in investor. Clear and specific.

Concerns Raised

None expressed. Chris was consistently positive throughout.
Contract details remain TBD — he didn't push hard but will likely come back to it.

What Resonated

Problem space — Chris immediately connected to SNF portfolio company. Drew detailed parallels about reimbursement complexity, clinical data buried in hundreds of pages, time pressure on decisions.
"Huge problem, messy, sounds like a good opportunity" — His closing framing. This is the ideal investor reaction.
FDE model — Chris understood it without needing extensive explanation. His SNF company likely does something similar.
Payer-first rationale — Stock prices, operational cost pressure, the "tone shift" in conversations. Chris said "completely, makes a ton of sense."
Michael's back-end vs. UI point — Michael contributed that customers are discussing whether it's UI-based SaaS or back-end system, and that the team is agnostic. Shows customer depth.

Our Commitments

Send deck to Chris

Their Next Steps

Chris catches up with Eric (partner) Friday afternoon
Team review Monday
Feedback Monday PM or Tuesday AM — "initial go/no-go and key questions"
Fast process, clear next steps

Investor Insights

Firm:

Sorensen Capital — Software + Security, early stage fund
Pre-seed through Series A, mostly pre-seed/seed
$2-6M checks (flexible $1.5-7M)
Low concentration, high conviction — opposite of spray and pray
No ownership target per se — prefer co-lead or follow with complementary value-add
Best at "opening doors" — true extensions of team, focus on key introductions (design partners, executives, hires)
Two funds: early stage (Eric + Chris) and presumably later stage

Chris's background:

Grew up in Saratoga/Bay Area (Michael grew up in Palo Alto — instant rapport)
Banking → ran e-commerce company 3 years (AG1 competitor, got into Target/Walmart/Costco) → VC
Operator mentality — wanted hands-on fund, not spray-and-pray
Values working closely with select founders

Healthcare exposure:

Portfolio company: AI platform for skilled nursing facilities (reimbursement optimization, clinical data analysis)
Understands the dynamics deeply — spoke in detail about SNF reimbursement complexity, IV duration affecting rates, etc.
Not a pure healthcare fund but has relevant experience

Process:

Fast and structured: intro → deck review → team Monday → feedback Monday/Tuesday
Eric (partner) is the senior relationship — Chris is the entry point
"Go/no-go and key questions" — clear decision framework

Interesting Moments

Chris's SNF parallel — Unprompted, he spent 2+ minutes explaining how their SNF portfolio company faces analogous challenges (reimbursement rates changing based on clinical details, hundreds of pages of notes, time-pressured decisions). This is pattern recognition — he's already bought into the problem space.

"Fish on the hook" — Chris described the Premera contracting phase as "you got a fish on the hook and figuring out how to reel it in." Positive framing of where we are.

Michael-Chris rapport — Palo Alto/Saratoga connection, both Bay Area. Michael asked about his background, contributed the back-end vs. UI observation. Natural dynamic.

Raw Transcript

[See above — ~32 minutes, Feb 6 2026]