Deep Space Ventures is at a very exciting time in its short history. Officially opened March 1st of 2016, the Dallas-based, two person micro-VC has already invested in five companies supporting the local ecosystem in Dallas. Most recently, Deep Space has invested in PediaQ, an app that is billed as the pediatric house call.
The concept behind PediaQ is simple, when your child is ill, you open the app, input your location, and select the nurse practitioner that you would like to have come to your home. The app is easy to use, and the nurse practitioners not only are experienced when it comes to working with children, but they can diagnose, treat, and prescribe; and they are available when pediatricians are not.
For patients with insurance, parents only make their urgent care co-pay, and a $25 convenience fee, and for those without insurance, the standard visit is $150– considerably more affordable than a trip to urgent care or the emergency room. There are additional fees like on-site testing, lab work, and injections but there is an incredible amount of value added to the health care that your child receives when they receive care.
For Deep Space Ventures investing in PediaQ was a no-brainer. The team heading PediaQ, led by Founder and CEO Jon O’Sullivan, understands the hospital space and he knows what hospitals need. They need a service like PediaQ in order to maximize their offerings to patients. Deep Space sees the healthcare space as one that they want to be in because of the opportunity for growth, and PediaQ is a great first healthcare-related investment.
For Stephen Hays, managing partner at Deep Space, the decision to break into the healthcare industry was an obvious one. With a background in investment banking covering healthcare companies, working with the exceptional leadership team at PediaQ is a continuation of the work that he already enjoyed. This is an exciting time in Dallas with a local VC fund ready and willing to chase more investments in Dallas. Deep Space wants to spend money, and is hungry to invest in more start-ups and markets in the region leveraging all that Dallas has to offer.