Nearly a year and a half since closing not one, but two rounds of funding, on-demand doctor service Heal is back at it, raising $20 million to facilitate its ongoing expansion plans.
Featuring contributions from new investors Bascom Ventures, Inflection Capital, IRA Capital, RLJ Equity Partners and Trans-Pacific Technology Fund, today’s convertible note will also help the company explore new business models and scale its technology platform.
“Over the last three years, we’ve re-established unhurried, relationship-based house calls as a gateway for cost controls and improved outcomes throughout the healthcare industry,” said co-founder and Chief Medical Officer Dr. Renee Dua in a statement. “Now it's time to realize the full potential of Heal to truly reboot the US healthcare system for patients, providers, and payers.”
Since launching in 2015, the company has delivered more than 60,000 house calls, partnered with several major PPO insurance plans and become a go-to health benefit option for a number of large employers. Co-founder and CEO Nick Desai told Built In LA that the round of funding only took 45 days to come together and brought the company’s total fundraising to a cool $70 million.
“We aren't going to fix US healthcare by cramming more people into waiting rooms or further distancing doctors from patients,” Desai said in a statement. “The revolution of Heal is in the fundamental change in focus from quantity to quality, delivered by qualified and caring doctors, in your home.”
