Carbon Health, a primary care provider blending in-person and virtual care services, has announced a $28 million Series B1 raise from prior backer DCVC.
WHAT THEY DO
San Francisco-based Carbon Health runs a series of clinics in California. These brick-and-mortar locations are supported by a Carbon Health mobile app, through which patients can view their health records, schedule appointments, handle their payments or receive their care through a video telehealth visit.
This round adds on to a $30 million raise announced last June, which was preceded by $6.5 million back in 2017, for a total of roughly $75 million.
WHAT IT'S FOR
This virtual component of Carbon Health's offerings have become a particular focus for the company over the last few months. As part of the funding news, the company said that it increased its staff from 100 employees to more than 300, and has now expanded its virtual-care service to treat patients in 15 additional states – many of which are among the largest and hardest hit by COVID-19. These virtual visits cost patients $49.
“Expanding our testing efforts and virtual care footprint will help to reduce the pressure on local hospitals and clinics focused on COVID care, provide non-COVID patients the care they need without putting themselves at risk of exposure, and ensure communities across the country are healthy and well as we look towards reopening our economies," Eren Bali, CEO and cofounder of Carbon Health, said in a statement. “We are aware that millions of Americans have lost their jobs and their health insurance at a time when getting medical care is critically important. ... We are focused on getting our virtual care services up and running across the country so that seeing a doctor is easy and affordable for anyone who needs care.”
THE LARGER TREND
Like Carbon Health, several tech-enabled primary care providers have stepped up their virtual offerings in response to the epidemic. 98point6's text message-based service said last month that its $43 million raise would expand its offerings in response to spiking demand, while Heal's house call and telehealth app platform recently added a telepsychology service to its offerings.
Carbon Health's COVID-19 response also includes its in-person testing services. Although the company noted in today's announcement that it has administered more than 12,000 of these across its clinics, the provider is likely keeping a keen eye on home-testing and sample-collection developments after it was caught up in the regulatory confusion of mid-March.
ON THE RECORD
"In a matter of weeks, this amazing team has tripled in size and driven dozens of initiatives at the front lines of this pandemic, serving thousands of patients across California," Bali said. "I’m excited to begin expanding our reach nationwide at a time when our communities need healthcare resources more than ever.”
