Former Memora Health CEO Manav Sevak unveils Novitas Holdings venture firm to back ambitious tech startups in San Francisco

Entrepreneur Manav Sevak is returning to the startup ecosystem with a new mission—helping young technology companies grow faster and smarter.

Sevak has officially introduced Novitas Holdings, a technology-focused investment firm headquartered in San Francisco.

The newly launched firm plans to do more than simply invest money.

Instead, Novitas aims to work closely with founders, providing practical guidance and operational support that can help emerging companies move from early ideas to scalable businesses.

A Hands-On Approach to Supporting Startups

Unlike traditional investment firms that focus mainly on financial backing, Novitas intends to partner deeply with the companies it supports.

The firm’s strategy centers on helping founders tackle the complex challenges that often slow startup growth.

Through Novitas, Sevak and his team will provide guidance in several critical areas, including:

• Product development strategies
• Go-to-market planning
• Recruiting and building strong teams
• Operational frameworks that allow companies to scale efficiently

This hands-on approach means founders will receive mentorship and strategic support alongside funding, creating an environment where startups can grow more sustainably.

Focus on Companies Solving Real Industry Problems

Novitas is setting its sights on startups tackling meaningful challenges across industries.

The firm intends to support businesses developing products designed for long-term relevance rather than short-term market trends.

Its investment strategy will include both early-stage funding and participation in the acquisition of promising technology companies.

By combining these approaches, Novitas hopes to accelerate innovation while helping portfolio companies expand their market reach.

Founder-led companies are a major priority.

Sevak believes entrepreneurs who remain deeply involved in building their businesses are often best positioned to create lasting impact within their industries.

A New Chapter After Memora Health Exit

The launch of Novitas comes shortly after Sevak stepped away from Memora Health, the healthcare technology company he previously led.

Memora gained significant attention for developing software designed to automate and personalize communication between healthcare providers and patients.

Under Sevak’s leadership, the company built tools that streamlined patient engagement for hospitals and health systems.

That chapter closed when Memora was acquired by Commure, a company known for building operating systems for healthcare organizations.

Memora Technology Now Integrated Into Commure’s Platform

The acquisition deal between Memora Health and Commure was finalized in mid-2024.

With the transaction complete, Memora’s patient engagement technology became part of Commure’s broader digital healthcare infrastructure.

By integrating Memora’s platform into its system, Commure strengthened its ability to provide scalable digital solutions for healthcare providers looking to modernize patient communication and workflow management.

Strong Investor Backing During Memora’s Growth

Memora Health’s rise in the healthcare technology sector was supported by major venture capital investors.

During its growth phase, the company secured more than $80 million in funding.

Several prominent investors participated in those funding rounds, including startup accelerator Y Combinator and venture capital powerhouse Andreessen Horowitz.

Their support helped Memora expand its platform and scale its reach across healthcare systems.

That experience now gives Sevak valuable insight as he begins guiding other founders through similar growth journeys.

Impact and Consequences

The creation of Novitas Holdings could have a noticeable impact on the startup ecosystem, particularly for early-stage technology companies seeking both capital and mentorship.

Sevak’s experience building and scaling Memora Health positions him to offer founders practical insights into product development, healthcare technology, and startup growth.

If Novitas successfully blends investment with operational support, it could become an attractive partner for emerging tech founders.

Additionally, the firm’s willingness to participate in acquisitions could open new pathways for startups seeking faster expansion or strategic partnerships.

What’s Next?

The next phase for Novitas will involve identifying its first group of portfolio companies.

Sevak is expected to focus on startups building solutions to complex industry problems, especially those with strong founding teams and scalable products.

As the firm begins making investments and building partnerships, the startup community will be watching closely to see how Novitas positions itself within the competitive venture capital landscape.

Summary

Manav Sevak’s return to the startup world marks the beginning of a new venture aimed at empowering founders beyond traditional funding.

Novitas Holdings plans to combine financial investment with strategic mentorship and operational guidance, helping startups navigate the difficult journey from early development to large-scale success.

Built on Sevak’s experience leading Memora Health and navigating its eventual acquisition, the firm hopes to create long-lasting value for both founders and industries seeking meaningful technological innovation.

Bulleted Takeaways

• Manav Sevak has launched Novitas Holdings, a new technology investment firm based in San Francisco.
• The firm plans to combine startup funding with hands-on operational and strategic mentorship.
• Novitas will focus on founder-led companies solving real industry challenges with long-term products.
• The launch comes after Sevak’s exit from Memora Health, which was acquired by Commure in 2024.
• Memora previously raised over $80 million from investors including Y Combinator and Andreessen Horowitz.
• Novitas aims to support startups through early-stage investments and technology company acquisitions to accelerate growth.