Minneapolis, Minnesota-based telemedicine company Zipnosis has raised $17 million in a round led by Safeguard Scientifics with participation from Ascension Ventures as well as existing investors Fairview Health Services, Hyde Park Venture Partners, Arthur Ventures, Waterline Ventures and Omphalos Ventures. This brings the company’s total known funding to about $20 million to date, according to the Minneapolis Star Tribune.
The company’s offering helps health systems create their own virtual care service that they can staff with their own clinicians. Zipnosis doesn’t do synchronous visits by video or phone, but instead relies on software interactions, like an interactive survey, to treat simple ailments like bronchitis or pink eye. Only when it’s needed, real-time interactions are first facilitated via phone or video visit. When an office visit is required, patients receive a Zipticket which provides them with fast access to the clinic so they don't have to wait in a waiting room.
Zipnosis says it service treats more than 90 conditions and plans to eventually offer chronic condition management.
“Our platform is designed to enable health systems to expand access to immediate care using their own clinicians,” Zipnosis CEO Jon Pearce said in a statement. “With Zipnosis, health systems have a unique opportunity to care for more patients under their own brand name and without adding staff. Patients are happier to be ‘seen’ sooner without having to step foot outside their home or go to a waiting room. We are grateful to Safeguard Scientifics, Ascension Ventures and our existing seed investors for their confidence in our team and technology, and for their support that will enable us to expand the innovative access we provide to mainstream medicine through our partnerships with health systems around the US.”
Zipnosis currently has about 17 health system customers including Fairview Health Services, University of Alabama-Birmingham, Group Health, and John Muir Health.
Last year, Zipnosis received a "significant" strategic investment from Fairview Health, the hospital system the company has been working with the past several years, but as per the Star Tribune's reporting mentioned above, all total funding prior to this week's round, amounted to about $3 million.