telemedicine company Brightside Health announced it has raised $33 million in Series C funding backed by healthcare-focused venture capital firm S32.
Kennedy Lewis, Time BioVentures, and 23andMe founder Anne Wojcicki participated in this round. Existing investors ACME, Mousse Partners, and TriVentures also invested.
The company confirmed the $33 million raise in an email. Mobi Health News. The Series C round brings the company's total funding to $100 million.
The San Francisco-based company also added previous companies. Optum Behavioral Health Solutions CEO Trip Hofer joins the Board of Directors.
Mr. Hofer serves on the boards of several healthcare companies, including virtual care providers. Virtual cardio exercise Heartbeat Health with Ophelia.
function
Brightside Health provides care for people suffering from anxiety, mild to severe clinical depression, and other mood disorders through its Crisis Care psychiatry platform.
The company leverages machine learning algorithms to assess individuals and help healthcare providers tailor treatment to them.
This funding round will be used by the company to grow into new markets.
”As we announce this increase, we are pleased to welcome Trip, a distinguished industry thought leader, to help propel Brightside Health into the next phase of our company's growth. These significant advances will allow us to accelerate our expansion into Medicare, Medicaid and beyond, while further deepening our technology and AI advantages to deliver best-in-class results.” Brad Kittredge, co-founder and CEO of Side Health, said in a statement.
“This investment is consistent with our continued focus on capital-efficient enterprise value creation and puts us on a comfortable path to profitability while further advancing our goals and mission. Become.”
market snapshot
Procured by telemedicine company Raised $50 million in Series B in 2022. Last year, it received $24 million in Series A funding.
In February, Brightside announced something new. Medicare and Medicaid partners with CareOregon, Blue Shield of California, Blue Cross and Blue Shield of Texas, and Centene.
This partnership will allow Brightside Health to serve an additional 50 million Medicare and Medicaid beneficiaries. Services are available to patients in Arizona, California, Delaware, Florida, Texas, Michigan, North Carolina, New York, Oregon, and Illinois.
