Carbon Health Raises $350 Million to Expand Omnichannel Primary Care Nationwide

Virtual care app Carbon Health announced that it had raised $350 million. Carbon Health said the investment enables it to accelerate its expansion further to build its primary care provider to make high-quality healthcare accessible to everyone in the US.

Blackstone’s Horizon platform led the round with Atreides, Homebrew, Hudson Bay Capital, Intersect Capital, Fifth Wall, Lux Capital, Silver Lake Waterman, and funds and accounts managed by BlackRock.

Existing investors Dragoneer Investment Group and Brookfield Technology Partners also participated, as well as individual investors including Amazon Worldwide Consumer CEO David Clark, Salesforce co-founder and CTO Parker Harris, Founding Board Member of Salesforce and Executive Chair of Informed Magdalena Yesil, Stripe Head of Banking Karim Temsamani, activists Shepard and Amanda Fairey, NBA players Klay Thompson and Khris Middleton, MLB players Nolan Arenado and Matt Chapman, MLS soccer player Weston McKinnie, and newly retired NFL player Alex Smith.

“Carbon Health is redefining primary care medicine with the important goal of helping more Americans access high-quality healthcare,” said Scott Bommer, Chief Investment Officer of Blackstone’s Horizon platform.

Scott Bommer added: “This investment will help Eren and his outstanding team further invest in new technology and products to differentiate and expand their services – all while maintaining an intense focus on how to improve healthcare services for all.”

Carbon Health provides omnichannel care. According to the company, patients receive care from the same providers through its platform at various access points, including clinics, pop-up sites, video, the mobile app, and even on-site. The company also provides value-based care to enterprise partners across various industries, including academia, sports, entertainment, biotechnology, and travel.

“We believe that everyone deserves great health and that there is still a tremendous opportunity to close the immense healthcare gap that widened during the COVID-19 pandemic,” said Eren Bali, co-founder, and CEO of Carbon Health. “This investment allows Carbon Health to bring our unique offering of high-end but not high-cost healthcare to even more people in the US.”

Telemedicine companies raised $4.2 billion in 105 deals in 1H 2021, a 147% increase in YoY compared to $1.7 billion raised in 79 deals in 1H 2020.