Health IQ, Backed by Andreessen Horowitz, Declares Bankruptcy
Health IQ, a startup backed by Andreessen Horowitz, has filed for Chapter 7 bankruptcy, revealing $1.3 million in assets and $257 million in liabilities owed to lenders, investors, and vendors. The company, which previously raised over $200 million in funding, recently laid off hundreds of employees and contractors. Co-founders Munjal Shah and Gaurav Suri received substantial payouts before the layoffs, with Shah collecting over $170,000 from the company despite stepping back from operations. Health IQ's bankruptcy is part of a trend of digital health companies facing financial difficulties, and experts predict an increase in bankruptcy filings for healthcare-related companies in the coming years.