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Tessera Health — Seed extension
Venture Capital · Tessera Health, Inc. · Denver, CO
Care-coordination software for home health agencies. Early pilots, heavy services component, long sales cycle.
Interest
gut-feel
Avg score
4.1
Lean Pass
Our commitment
Deal size
$3.5M
Sponsor
Elena Brooks (CEO)
Source
Inbound — cold
Days active
118d
You are in
Passed
day 40 in this stage
Say why, so the next one like it gets decided faster — and so the person who brought it is a relationship rather than a dead end.
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Record why we passed
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Tell them
A fast, clear no is why they send you the next one.
What a Venture Capital deal collects here ShowHide
One honest line. Startups come back in eighteen months.
Only you can answer these
- — Which of the three it actually is: too early, valuation, or we don't believe the team. Only one of those ever changes.
- — What would change our mind, and at what stage. A pass reason that doesn't say that is one we can't reuse.
- — Whether it's a timing pass — if it is, set a Re-evaluate follow-up rather than losing the deal in the archive.
- — Whether you'd say this line to the founder. A quick clear no is why they send you the next one.
Written up as
One line in the pass reason, plus a Re-evaluate follow-up where the answer could genuinely be different later. Nothing else — no memo, and nothing new comes in.
Move on when Terminal. But the pass reason is the most reused thing in this app, so the test is whether the next person reading it can decide a similar deal faster.
23 still open. Ticking saves straight away.
Documents 3
Pitch Deck.pdf
4820KB · Jun 15 · Jordan Park · Deck
Financial Model.xlsx
612KB · Jun 21 · Jordan Park · Financials
Cap Table.xlsx
88KB · Jun 27 · Jordan Park · Legal
Discussion 2
Goes to Morgan Hale at sign-off
📌
Morgan Hale
Jun 15
Can we get the updated financials before IC? The deck is a quarter old.
Jordan Park
Jun 23
Pulled the comps this morning; rents in the submarket are above the in-place lease.
✨ Next best actions
Set a trigger on the payer contract Internal
A follow-up on the payer announcement brings the deal back if it happens.
Send the pass note to the CEO Outreach
Elena Brooks asked for feedback; the services mix and the valuation are the two reasons to give.
Save the pilot data to the deal folder Internal
The data-room access lapses; keep the pilot results for a later look.
Add it to the care-coordination comps Internal
Two later rounds in the space will be priced against it.
Stage check. Passed at first assessment on the services-heavy model and the price. Nothing to do unless the company lands the payer contract the pass note names.
✨ AI-generated from this deal's current state · 2026-10-09 · review before acting
Section scores
Due diligence
28%
9 of 32 complete
Responsibility
Edit matrixWhoever owns the stage a deal lands in gets an email.
All stages (8) › Hide stages ⌄
Screening
Initial Review
Underwriting
Due Diligence
IC Review
Negotiation
Closing
Invested
Deal record
EditIdentity
NameTessera Health — Seed extension
TypeVenture Capital
Fund strategy—
Company / propertyTessera Health, Inc.
LocationDenver, CO
Description
Care-coordination software for home health agencies. Early pilots, heavy services component, long sales cycle.
Economics
Deal size$3.5M
Our commitment$750K
Minimum—
We are theDirect
Dates
ReceivedJun 13, 2026
Decision deadline—
Closing—
Last progressAug 31, 2026
Counterparty
SponsorElena Brooks (CEO)
ContactElena Brooks
Phone(555) 0138-8593
SourceInbound — cold
People
LeadToviya Slager
Currently with—
Added byToviya Slager
Outcome
Why we passed
Services-heavy model with a long sales cycle; valuation rich for the traction. Would revisit on a payer contract.
Notes
Passed at first assessment. Revisit if they land a payer contract.
Completed evaluations
+ New evaluationToviya Slager
Completed Aug 11, 2026
4.1Lean Pass
| Founding Team & Leadership | 18% | 3.98 | |
| Market Opportunity | 16% | 3.58 | |
| Product & Technology | 14% | 4.58 | |
| Traction & Metrics | 12% | 4.12 | |
| Financials & Valuation | 12% | 4.52 | |
| Competitive Landscape | 8% | 5.4 | |
| Exit Potential | 8% | 3.75 | |
| Key Risks & Red Flags | 6% | 2.98 | |
| Due Diligence & Legal | 6% | 3.2 | |
| Gut Feeling & Intangibles | 10% | 4.12 |
Notes: Passed after this evaluation.
Due diligence checklist · 9/32 (28%)
Review articles of incorporation and bylaws
Review cap table and all prior funding docs (SAFEs, notes, priced rounds)
Confirm IP assignment agreements for all founders and employees
Review all material contracts (customers, vendors, partnerships)
Check for pending or threatened litigation
Verify employment agreements and non-competes
Review stock option plan and outstanding grants
Confirm good standing in state of incorporation
Obtain and review last 2 years of financial statements
Review monthly P&L for last 12 months
Analyze burn rate and runway projections
Review bank statements (last 3 months)
Validate revenue and MRR/ARR figures
Review accounts receivable aging
Assess tax compliance and outstanding obligations
Review financial model and key assumptions
Conduct customer reference calls (minimum 3)
Verify key metrics (growth rate, churn, NRR, CAC/LTV)
Review competitive landscape and positioning
Assess product-market fit evidence
Evaluate go-to-market strategy and sales pipeline
Review product roadmap and technical architecture
Complete founder background checks
Conduct reference checks (at least 3 per founder)
Review org chart and key hires planned
Assess team gaps and hiring plan
Verify founder commitment (full-time, vesting)
Review and negotiate term sheet
Confirm valuation and round economics
Review investor rights (pro rata, board seat, info rights)
Assess co-investor quality and alignment
Final IC memo and approval
Documents now live on the Overview tab.
📦 Archived — snoozed until Feb 06, 2027. Mark the re-evaluate reminder done to wake it.
Feb
06
in 120d
⏰ Re-evaluate
Re-check if they land a payer contract
Emails
✉️
Tessera Health — Seed extension — timing
Elena Brooks · Jul 04, 2026 · added by Toviya Slager
Quick note on timing: the seller would like to have a signed agreement by the end of the month. Let me know if that works on your side.
✉️
Re: Tessera Health — Seed extension — follow-up questions
Elena Brooks · Jun 29, 2026 · added by Toviya Slager
Answers to your questions below. On the capital plan, the roof work is scheduled for the second quarter and is in the budget.
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Tessera Health — Seed extension: updated financials📎
Elena Brooks · Jun 24, 2026 · added by Toviya Slager
Attached are the updated numbers through last month. Occupancy and collections are tracking the plan we walked through.
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Re: Tessera Health — Seed extension — data room access
Elena Brooks · Jun 19, 2026 · added by Toviya Slager
Access to the data room has been granted to your team. The financials folder includes the trailing twelve months and the updated budget.
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Intro: Tessera Health, Inc.📎
Elena Brooks · Jun 14, 2026 · added by Toviya Slager
Hope you are well. As discussed, please find attached the overview for Tessera Health, Inc.. We are targeting a close in about eight weeks and would welcome a conversation.
✉️
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