Transform Capital

VC Boston, United States · Founded 2016

Transformation Capital focuses exclusively on growth-stage digital health, healthcare IT, and tech-enabled services that simplify complexity, lower costs, and improve patient care.

About Transform Capital

Transform Capital, formerly known as Transformation Capital, is a healthcare-focused growth equity firm specializing in late-stage digital health and healthcare technology investments. The firm operates with a sector-specialist mandate and has built a reputation for backing companies in clinical software, virtual care, healthcare data infrastructure, and adjacent technology categories at significant scale. Check sizes are large by venture standards, typically beginning at twenty million dollars and scaling well into nine figures for larger transactions, with the firm able to lead growth rounds and act as a primary partner through to exit. The natural fit is a healthcare technology company with material revenue, a defined buyer, defensible economics, and ambitions for either organic acceleration or strategic M&A. Healthcare AI founders can engage at growth stage if there is meaningful enterprise traction, strong unit economics, and a credible plan for capital deployment. Pre-revenue companies, seed-stage software businesses, and biopharma research-stage assets are out of scope and should look to early-stage investors. Founders should expect rigorous, healthcare-fluent diligence with input from clinical, payer, and operational advisors, careful commercial analysis, and active engagement on operations and management team build-out post-investment. The best entry path is via a healthcare-focused growth equity banker, a strategic advisor with Transform relationships, or a warm introduction from a portfolio CEO. Direct outreach to partners on LinkedIn is also a credible path when the company is at clear growth-stage scale, with metrics and round dynamics that justify a sector-specialist late-stage lead.

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Healthcare AI tools backed by Transform Capital

Tools made by companies in Transform Capital's portfolio that we cover in the directory.

Rad AI Omni
Rad AI
Clinical Decision Support & Reference
Rad AI Omni is an AI tool that automates and optimizes radiology reporting, generating impressions and follow-up recommendations to save radiologists time, reduce burnout, and improve patient care. It leverages generative AI for customized reports and seamless workflow integration.
CMX CARE
CodaMetrix
Medical Billing & RCM
CodaMetrix offers an AI-powered contextual coding automation platform designed to transform healthcare operations by improving coding quality and performance, reducing manual work, and strengthening financial foundations for health systems.
SmarterDenials by SmarterDx
SmarterDx
Medical Billing & RCM
SmarterDenials by SmarterDx is an AI-powered tool that helps hospitals efficiently appeal denied insurance claims by analyzing patient records and generating evidence-backed appeal letters.
Agents
Agents
Documentation & Scribing
Keragon Agents are AI teammates that automate judgment-based tasks such as answering questions, triaging messages, and summarizing charts within the Keragon platform.

Portfolio companies in our directory

Other portfolio companies

Companies in Transform Capital's portfolio not currently in our directory.

Team

Todd Cozzens
Co-Founder and Managing Partner
LinkedIn
Jared Kesselheim, M.D.
Co-Founder and Managing Partner
LinkedIn
Mike Dixon
Managing Partner
LinkedIn
Vinay Shah
Partner
LinkedIn
Akanksha Mehta
Partner
LinkedIn
Scott Rosen
Partner
LinkedIn

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Last updated 2026-05-06. Sourced from this fund's published materials.
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