Carbon Health, a hybrid care company providing both telemedicine and in-person healthcare services for general chronic health conditions, raised $100 million in Series D funding from CVS Health Ventures, a corporate venture capital arm of CVS Health.
In addition to funding, CVS Health will test out the Carbon Health operating model inside select existing CVS Health locations, leveraging the Carbon Health model and software to help power the patient experience for CVS consumers.
Founded in 2015, Carbon Health aims to make healthcare accessible to everyone in the United States. Building on the success of its nationwide urgent care network, Carbon Health treats the full spectrum of first-contact needs – from acute issues to chronic conditions, as well as ongoing physical and mental health needs. The company is also expanding into value-based care – working with employers, health plans, health systems, and other ecosystem partners.
According to the company’s website, the Carbon Health hybrid care model blends easy-to-use software and expert care so every patient can establish a relationship with their own integrated team, monitor and manage their health on the go, and access in-person care when and where they need it.
“Our investment in Carbon Health is another important step toward our vision of becoming the leading health solutions company for consumers,” said Vijay Patel, Managing Partner and co-founder of CVS Health Ventures. “This pilot will allow us to explore Carbon Health’s potential to advance the retail health experience, connecting consumers to care where and when they need it with a simple and engaging user-driven experience that can be adapted and delivered across our platform.”
Including the latest round, Carbon Health has raised more than $600 million in equity funding to date. More recently, in July 2021, Carbon Health announced a $350 million funding round from investors, including Blackstone Horizon, Atreides, Homebrew, Hudson Bay Capital, Intersect Capital, Fifth Wall, Lux Capital, Silver Lake Waterman, BlackRock, Dragoneer Investment Group, and Brookfield Technology Partners.
Telehealth companies have raised more than $40 billion in funding to date, according to our funding database. More recently, Doctor Anywhere, a telehealth startup providing virtual care for general health problems, raised $38.8 million in Series C funding led by Novo Holdings with participation from Asia Partners, Kamet Capital, Square Peg, IHH Healthcare, EDBI, and OSK-SBI Venture Partners.
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