Investing in the modernization of health + care.
Our Why
Health defines possibility. Supporting preseed and seed founders with audacious visions to rewrite the logic of care is our north star.
Life is short.
Build something that matters.
We Invest in the Software Layer of Health.
Our Investment Thesis
Headwater backs preseed and seed teams building the infrastructure and intelligence that make care administratively simpler, clinically safer, and financially legible. In practice, that means underwriting companies that sit in the connective tissue between payers, providers, patient access, and operational workflows, with a bias toward systems that become repeatable defaults inside regulated environments. We do not invest in pharma, biotech, med tech, or life sciences.
Portfolio
A Founder's Perspective
Matt Miller, PhD
Founder / Partner
Originally trained as a behavior scientist and mental health professional, Matt brings a deep understanding of human behavior to healthcare innovation. He's also been in the trenches as a serial healthtech founder and a systems-level healthcare operator.
His experience leading digital health accelerators for Techstars and UnitedHealth Group, combined with an investment portfolio of 200+ startups, is focused on a single goal: backing founders who are making the health system better for everyone.