Funding profile · Preventive cardiology
Empirical Health
One reported pre-seed of $500,000, no Form D on file at the SEC, and growth disclosed only as multiples. The capital record is the thinnest part of this company.
$500KTotal reported raised, pre-seed closed July 2023
0Form D filings at the SEC as of Sep 24, 2026
30xRevenue growth in 2025, company-stated, no base given
100,000Patients, company-stated, December 2025
Data as of September 24, 2026. Company-reported figures are labeled.
Rounds at a glance
| When | Round | Amount | Investors | Source |
|---|---|---|---|---|
| Summer 2023 | Y Combinator, Summer 2023 batch | Not disclosed | Y Combinator | YC data |
| Jul 2023 | Pre-seed | $500,000 | Y Combinator, Broom Ventures, Pacific 8 Ventures, Pioneer Fund, Rebel Fund | Independent report |
| By Nov 2023 | Seed round, described by the CEO | Not disclosed | Not disclosed | Founder interview |
| 2022 to 2026 | Federal grants | None found | No NIH or NSF award to the company | Not found |
| As of Sep 2026 | Regulation D offerings | None on file | No filer, no vehicle | SEC EDGAR |
What the filings show
Empirical Health, Inc. · no Form D on file · checked Sep 24, 2026
- Company search
- Thirteen EDGAR registrants match the string Empirical. None is this company.
- Full text search
- 20 hits for the phrase across all EDGAR filings, all from QMed Inc and Parallax Health Sciences. Restricted to Form D: 0 hits.
- Vehicles
- No SPV or series LLC named for the company found.
- Reading
- An offering sold under Section 4(a)(2) carries no Form D obligation, and a convertible instrument of the kind an accelerator uses need not generate one either. The absence is a gap in the record, not proof that no money moved.
- Registry entry
- NPI 1619691938, Empirical Health, Inc., enumerated Sep 29, 2022, authorized official Brandon Michael Ballinger, co-founder. Former legal business name: Slice Health, Inc.
- State entities
- Three professional corporations trade as Empirical Health: 525 Medical Group PA (FL), 525 Medical Group of New Jersey PC (NY address) and Raquel Rodriguez Martinez MD PC (CA).
Reading the filings
- The public capital record is one line long.$500,000, reported as a pre-seed closed in July 2023, alongside Y Combinator and four named funds: Broom Ventures, Pacific 8 Ventures, Pioneer Fund and Rebel Fund. Split five ways that averages about $100,000 per participant. No later round has been reported by any outlet or filed with the SEC.
- The CEO described a seed round the record does not carry.In November 2023 Brandon Ballinger told Fitt Insider the company had recently raised a seed round, and that it raised more capital for less dilution than either of his two previous startups. No amount was given, no Form D followed and no release named the round. That pattern fits a raise under Section 4(a)(2) or on notes.
- The growth figures are ratios with no denominator.Revenue up 30 times in 2025; monthly revenue growth averaging 41% over six months; more than 25% monthly on the Y Combinator page. None is anchored to a dollar amount, so none converts into revenue. Thirty times a small number is still a small number.
- Patients grew faster than the footprint.30,000 people helped as of March 2025, more than 100,000 patients by December 2025, against a practice that went from four states in July 2023 to 15 by November 2023 and 30 by the end of 2025. Most of the patient growth came from states already open rather than new ones.
- Nothing here is non-dilutive.No NIH or NSF award appears for the company, and there is no FDA clearance to license against. Every dollar on the record is equity, and the record shows $500,000 of it.
- The category has an expensive precedent.Forward raised a reported $657 million for technology led primary care and closed in November 2024 with about 200 staff and 19 locations. Empirical describes itself as a three person company and has spent, on the public record, three orders of magnitude less. Whether that is discipline or undercapitalization depends on whether asynchronous virtual care and value-based contracts carry a model that expensive clinic real estate could not.
Commercial signals
| Signal | Detail | Source type |
|---|---|---|
| Pricing | $9 per month at launch in 2023 with video visits billed to insurance; a $190 panel of 85 or more biomarkers at the heart launch; a $97 blood test through the app in March 2025; a one time payment of $190 to $399 on the 2026 site. | Company-stated |
| Payers | In network with Aetna, Anthem, UnitedHealthcare and Medicare, reported March 2025. | Independent |
| Footprint | Four states at launch in July 2023, 15 by November 2023, 30 by December 2025. | Company-stated |
| Licensure on file | The provider registry lists eight state licences for the one named physician, and three professional corporations. | Public record |
| Regulatory | No FDA clearance, premarket approval or registered trial under the company name. | Not found |
| Research | JETS accepted to the Timeseries for Health workshop at NeurIPS 2025. | Public record |
What to watch
- A Form D for any priced round. It is due within 15 days of the first sale under Regulation D.
- Any revenue stated in dollars rather than as a multiple.
- A named value-based or shared savings contract, which is the business model the founders describe.
- Licence records catching up with the 30 state claim.
- Whether a fourth or fifth professional corporation is enumerated, which is how state by state expansion shows up in public data.
The Empirical Health story on Healthcare DiscoveryHealthcare Discovery
Related companies
Sources
- Public recordSEC EDGAR company search and full text search for Empirical Health
- Public recordNPPES records, Empirical Health, Inc. and three affiliated professional corporations
- Public recordNPPES record, Raquel Rodriguez Martinez, NPI 1700240603
- Public recordopenFDA device records, no clearance under Empirical Health
- IndependentEmpirical Health launches Radar, turning smartwatches into complete health scores
- InterviewEmpirical Health CEO Brandon Ballinger on Wearable Data in Primary Care
- IndependentPrimary care player Forward shutters after raising $400M, rolling out CarePods
- IndependentEmpirical Health funding and investors profile
- CompanyEmpirical Health Surpasses 100,000 Patients, Marking a Breakout Year of Innovation and Growth
- CompanyY Combinator company page and Launch YC post
Compiled from SEC, CMS and FDA public records and published reports as of September 24, 2026. Form D notices report offerings under Regulation D; no such notice has been filed by this company, and offerings made under other exemptions do not generate one. Healthcare Venture Capital Fund holds no position in Empirical Health. This page is not an offer to sell or a recommendation to buy any security.