Keep pulling the thread on Fred Turner.
Curative scaled its COVID-19 testing business to $5 billion in total revenue.
Curative pivoted from COVID-19 testing into a health insurance provider valued at $1.3 billion.
Curative grew from 7 to 7,000 employees in its first 9 months of operation during the COVID-19 pandemic.
Curative is cutting approximately 80% of its SaaS spend in the current year.
Curative canceled its $600,000 per year Salesforce contract after building a superior, custom internal CRM in two months.
The traditional SaaS business model is dead because companies will increasingly replace off-the-shelf software with custom-built internal AI agents.
Curative's spending on Anthropic's AI models has grown 6x every month for the past 6-7 months, reaching millions of dollars per month.
Curative paid a dividend to its early investors after its COVID-19 testing business, returning 10 times their initial investment while allowing them to retain their equity.
Curative's most recent funding round, led by insiders, raised $150 million at a $1.3 billion valuation.
Curative automated its doctor credentialing process using an AI agent built on Claude, reducing turnaround time from 2-3 months to 12 hours and cost from $50 to $0.20 per doctor.
In December 2019, a CLIA lab license was sold for $150,000, and five months later, a similar license was acquired for $27 million due to the COVID-19 pandemic.
Curative invested approximately $500 million of its COVID-19 testing profits to fund its pivot into the health insurance business.