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Telehealth Funding in 2020💊

Telehealth Funding in 2020💊
December 14, 2020

The Daily Stack is a daily market insight newsletter by PrivCo, a private market intelligence platform. Read our previous insights.
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A focus of 2020 has been ensuring good mental health. The list of reasons for high stress is limitless. Working from home in an environment that wasn’t meant for it. Struggling to find toilet paper at the grocery store. Endless hand washing and germ-free disinfection. Oh, and need we remind you we are still in the middle of a pandemic? If we have your heart racing, fear not! The number of telehealth companies thriving has made it easier for us to address higher stress levels or even the minor health issues we wouldn’t want to risk going to the hospital for. Access to health consultations hasn’t just been on our minds, but also the minds of investors as many companies with telehealth capabilities received significant funding. 


Credit: vectorjuice

  • Carbon Health raised two rounds of funding, a second Round B funding in May of $28MM and a Round C funding of $100MM. Its valuation is over 3x what it was in 2019. The company offers stress-free booking online for virtual or urgent and primary care visits, including COVID-19 testing. 
  • Ro is a telehealth service that has expanded from a men’s only reproductive complications service to a similar service for females as well as a program specifically for targeting smokers. It received a $200MM funding in July to put it into unicorn status. The ample funding will help it further build out its telehealth capabilities, which has included acquiring the in-home care platform Workpath this month. 
  • Ready Responders is a non-emergency medical health service for underserved patients eligible for Medicaid (and Medicare), including continuing care for patients discharged from non-emergent care, etc. The company received two rounds of funding in March and September as demand for its services also rises with COVID-19 cases. 
  • Heal raised $100MM (Round D funding) in July. The company offers telemedicine, including a recently launched virtual therapy service, as well as on-call physicians for house visits. 
  • Vida Health raised an equity round of funding in May of $25MM. The company offers a virtual platform that helps a patient keep track of everything from chronic conditions to promoting better sleep health, eating better, and more for overall mental and physical health.
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Since last week, PrivCo has added:
1155 Companies | 188 Funding Activities | 226 M&A Deals

Funding & Deal Highlights:

 

SpaceX receives $885MM from the Federal Communications Commission
Aerospace & Defense • Grant • Hawthorne, CA

Dragos raises $110MM co-led by National Grid Partners and Koch Disruptive Technologies 
Cybersecurity Software & Internet Services • Round C • Fulton, MD 

SingleStore raises $80MM led by Insight Partners
Analytics Software & Internet Services • Round E • San Francisco, CA

Synctera raises $12.4MM led by Lightspeed Ventures
Fintech Software & Internet Services •Equity • San Francisco, CA

Arthur AI raises $15MM led by Index Ventures
AI Technology Services • Round A • Washington, DC

Firebolt raises $37MM led by Zeev Ventures
SaaS Software & Internet Services • Round A • Tel Aviv, Israel

Reneo Pharmaceuticals raises $95MM co-led by Novo Ventures and Abingworth
Pharmaceuticals • Round B • San Diego, CA

Pear Therapeutics raises $80MM from multiple investors
Health Care Services • Round A • Boston, MA

TechTarget acquires BrightTALK, a virtual events platform
IT Software & Internet Services • Acquisition • San Francisco, CA

Sony buys anime company Crunchyroll from AT&T for over $1BN
Streaming Software & Internet Services • Acquisition • San Francisco, CA

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