Funding profile · Hospital equipment resale

Medinas Health

A hospital equipment resale marketplace that raised at least $6 million across two announced seed rounds between 2018 and 2019, backed by a single SEC Form D. It closed in the Covid-19 pandemic, and no filing was ever made for its larger round.

$6.0MCombined seed capital per press releases, 2018 and 2019
$1.0MOffered in the only Form D on file (Feb 2018)
$940KSold of that $1.0M offering, 9 investors
$7.06MTotal funding, third party estimate (Tracxn), 5 rounds

Data as of September 25, 2026. Company-reported and third party figures are labeled. Medinas Health ceased operations by January 2022.

Rounds at a glance

When Round Amount Investors Source
Oct 2017 Forbes Global Change the World Competition, prize not equity $500,000 ($200,000 cash, $300,000 media) Sound Ventures, Rough Draft Ventures (General Catalyst), Forbes Award
Feb 2018, filed Seed $1,000,000 offered, $940,000 sold Co-led by Sound Ventures and Rough Draft Ventures; Precursor Ventures, Trammell Ventures, angels Form D
Jan 2019 WeWork Creator Awards Global Finals, prize not equity $1,000,000 WeWork Award
Nov 2018 closed, Oct 2019 announced Seed, oversubscribed $5,000,000 Led by NFX; Precursor Ventures, Sound Ventures, FJ Labs, Bryan Frist Press
2017 to 2019 Lifetime total, third party estimate $7.06M across 5 rounds Y Combinator, Rough Draft Ventures, NFX and others, per Tracxn Aggregator

What the filings show

Medinas, Inc. · Form D · filed Feb 21, 2018

First sale
Feb 6, 2018
Offered
$1,000,000, options and securities to be acquired
Sold
$940,000 · $60,000 remaining
Investors
9 · average about $104,000
Exemption
Rule 506(b)
Related persons
Chloe Alpert, Jesse Avshalomov, Timothy Growney, Romy Seth, each Executive Officer, Director and Promoter
Filing
SEC EDGAR, CIK 0001730717

Reading the filings

  1. Only one Form D exists for this company.A full text search of SEC EDGAR for “Medinas” returns exactly one hit under a Form D filing, from Medinas, Inc. in February 2018. No filing has ever appeared for the $5 million round the company says closed in November 2018 and announced in October 2019. Companies that raise under Section 4(a)(2) rather than Regulation D are not required to file a Form D at all, so this gap does not prove no money moved, only that no federal filing confirms the larger round.
  2. The filing landed weeks before the press release.The first sale under the Form D is dated Feb 6, 2018, and the notice was filed Feb 21, 2018, about three and a half weeks before the March 15, 2018 press release announcing the round’s close. That ordering is normal: Form D notices are due within 15 days of a first sale, well ahead of any announcement timed for press.
  3. Sold came in under offered.By the filing date, $940,000 of the $1,000,000 offered had sold, from 9 investors averaging about $104,000 each. Press coverage called the round “oversubscribed,” which the Form D does not confirm; oversubscribed usually implies more demand than the offering size, while the filing shows less than the full amount sold at the time it was filed. It is possible the raise later closed above target, past the filing date.
  4. All four founders show up as related persons, with no outside board seats.Chloe Alpert, Jesse Avshalomov, Timothy Growney and Romy Seth are each listed as executive officer, director and promoter, a flat structure typical of a founding team at first close, with no investor named in a governance role on the filing itself.
  5. The registered address does not match the company’s own press description.The Form D lists the issuer’s address as 1935 Addison Street, Suite A, Berkeley, CA, filed the same month the company’s own March 2018 release described it as “based in San Francisco, California.” By the 2019 round, the company’s own materials and independent coverage alike called it Berkeley-based.
  6. Lifetime totals do not agree.Press releases describe $1M (2018) plus $5M (2019), about $6M combined. Tracxn, a third party aggregator, lists $7.06M raised across 5 rounds. Forbes’ profile of the CEO, last updated Dec 2025, says the company “raised more than $5 million in funding to date.” None of the three figures matches another exactly.

Commercial signals

Signal Detail Source type
Customer base 55 healthcare organizations as partners, mainly in Florida, New York and Arizona, as of Oct 2019. No hospital system named. Independent
International resale Company said it shipped CT scanners to Cambodia, ventilators to India and defibrillators to Mexico, as of Oct 2019. Independent
Revenue model Take rate on gross sale value per transaction, no upfront subscription fee, remote account managers handling 20 to 25 accounts each. Independent
Savings claim Company said the platform helped hospitals save more than $50 million in “sales equivalency.” No audit or methodology found. Company-stated
Closure Site fully operational as of Dec 3, 2021, replaced by a closure notice citing pandemic pressure by Jan 14, 2022. Public record

What to watch

  • Whether an amended or new Form D ever appears for the 2018 to 2019 round, to settle the $5M versus $6M versus $7.06M question.
  • Any public accounting of what happened to Medinas Health’s assets, contracts or equipment listings after closure.
  • How the medinas.com domain passed to TAB Xchange, an unrelated liquidation company, an event with no public paper trail found.

The Medinas Health story on Healthcare DiscoveryHealthcare Discovery

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Sources

  1. Public recordForm D, Medinas, Inc., CIK 0001730717SEC EDGAR · filed Feb 21, 2018
  2. Public recordSEC EDGAR full text search for “Medinas”SEC · accessed Sep 25, 2026
  3. Public recordWayback Machine capture of medinas.com, site operationalInternet Archive · Dec 3, 2021
  4. Company statementWayback Machine capture of medinas.com, closure noticeInternet Archive · Jan 14, 2022
  5. Independentmedinas.com current site, TAB XchangeAccessed Sep 25, 2026
  6. CompanyMedinas Health Closes $1 Million Seed Round Co-led by Ashton Kutcher & Guy Oseary’s Sound Ventures and General Catalyst’s Rough Draft VenturesGlobeNewswire · Mar 15, 2018
  7. IndependentMedinas Raises $5M Seed For Its Healthcare Equipment MarketplaceCrunchbase News, Natasha Mascarenhas · Oct 21, 2019
  8. IndependentMedinas Raises $5M in Seed FundingFinSMEs · Oct 22, 2019
  9. IndependentMedinas Raises $5M to Expand Pre-Owned Medical Equipment MarketplaceHIT Consultant, Jasmine Pennic · Oct 22, 2019
  10. AwardMedinas Wins $500,000 Forbes Under 30 Summit’s Global Change The World For-Profit CompetitionForbes · Oct 2, 2017
  11. IndependentChloe Alpert profileForbes · updated Dec 2, 2025
  12. AggregatorMedinas company profile, funding and foundersTracxn · accessed Sep 25, 2026

Compiled from SEC and other public records and published reports as of September 25, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in Medinas Health. This page is not an offer to sell or a recommendation to buy any security.