Shradha Agarwal co-founded Outcome Health, originally called ContextMedia, with Rishi Shah in 2006 to help patients with chronic diseases better manage their health. The company offers products including digital anatomy boards to help doctors talk to patients about illnesses or treatment options, and programming relevant to an office’s patient population to be shown on screens in waiting rooms.
The company raised its first outside funding in May 2017 – more than $500 million, at a valuation of more than $5 billion. Investors included Goldman Sachs, Google and a fund co-founded by Illinois gubernatorial candidate J.B. Pritzker.
In October 2017, Outcome Health was the subject of a Wall Street Journal story alleging that employees had misled advertisers about their ads’ performance. Lawsuits from investors alleging fraud came shortly after. More than one-third of the company’s 535 employees took a voluntary buyout, and pharmaceutical advertisers pulled tens of millions of dollars in advertising and hospitals have backed away.
A statement from Outcome Health said it remains committed to improving health care and creating technology jobs in Chicago. In December 2017, the company called off plans to take over nearly 400,000 square feet of office space at 515 N. State St. in Chicago.
In 2012, she and Shah started angel fund JumpStart Ventures to help launch businesses focused on health and education. As of 2014, the $10 million fund had made 30 investments, according to Shah.
Agarwal is a mentor at the Founder Institute & Blueprint Health, serves on the boards of HY Connect and Northwestern Student Holdings, and is a World Economic Forum Global Shaper. Agarwal was honored as a Champion of Change by the White House and recognized as Best Female Founder at the United Nations in 2013.
More on Shradha Agarwal
Outcome Health calls off headquarters move amid fraud allegations — Dec. 21, 2017
Outcome Health’s path: From a Northwestern classroom to the courtroom – Dec. 1, 2017
One-third of Outcome Health’s staff takes buyouts – Nov. 21, 2017
Outcome Health investors take bid to freeze $225M allocated to founders to Delaware court – Nov. 17, 2017
New York judge denies investors’ request to freeze $225M for Outcome Health founders – Nov. 13, 2017
Outcome Health investors receive DOJ subpoenas as Chicago-area hospitals back away – Nov. 10, 2017
Investors sue Outcome Health, alleging investment fraud – Nov. 9, 2017
Major investors sue Outcome Health, alleging firm committed fraud to secure $487.5M investment – Nov. 8, 2017
Health care companies pull ads from Outcome Health’s screens amid internal investigation – Nov. 6, 2017
Judge temporarily bars Outcome Health founders from moving $225 million – Nov. 28, 2017
Outcome Health puts 3 employees on leave amid claims it misled advertisers: report – Oct. 13, 2017
Outcome, a Hot Tech Startup, Misled Advertisers With Manipulated Information, Sources Say — Oct. 13, 2017
Outcome Health lays off employees after new jobs announcement – Sept. 29, 2017
Chicago’s Outcome Health to add 2,000 jobs – Sept. 26, 2017
Outcome Health raises funding at a more than $5 billion valuation – May 31, 2017
Outcome Health makes deal for big new River North office – Mar. 1, 2017
‘I feel real pain’: The system is broken, this immigrant founder says – Jan. 30, 2017
ContextMedia has a new name: Outcome Health – Jan. 23, 2017
ContextMedia acquires AccentHealth, more than doubles footprint – Nov. 16, 2016
ContextMedia doubles size of Chicago office, prepares for new hires – April 25, 2016
‘What do we have to do?’ Innovators chart path toward women’s equality – May 19, 2016
What makes a leader? Chicago Innovation Awards winners tell all – Oct. 27, 2015
When hiring, ContextMedia stays close to its mission – Sep. 9, 2015
How ContextMedia uses ‘flat management’ to drive sales – July 14, 2015
Techweek100 announced for 2015, and there’s a notable change – June 2, 2015
Blue Sky event: How to improve your pitch to an angel investor – March 25, 2015
Chicago-based ContextMedia says it will add 600 jobs by end of 2016 – Jan. 26, 2015
America’s Most Promising Companies: The Top 20 Of 2015 – Jan. 21, 2015
Entrepreneurs share lessons from Mom – May 9, 2014
Search more on Shradha Agarwal in Blue Sky
Shradha Agarwal, co-founder and president, ContextMedia
Shradha Agarwal walks the runway during Techweek’s FashionTECH runway show at the W Hotel City Center. (Andrew A. Nelles / for Blue Sky / June 24, 2014)
Shradha Agarwal talks with employees at Context Media.
(Antonio Perez / Chicago Tribune / Jan. 19, 2015)