Telehealth Funding in 2020💊

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.