Online doctor’s appointment booking platform Solv Health announced the close of its $45 Million Series C funding round led by Acrew Capital and Corner Ventures.
Other participants include existing investors Greylock Partners and Benchmark Capital.
The company plans to use new funds to expand its national network of healthcare providers, consumer-driven healthcare offerings like same-day in-person appointments and virtual care, and increased patient cost transparency.
Solv Health, in a press statement, said, 1 in 16 Americans have used Solv to schedule care, making same-day appointments with just a few taps of a phone, reducing their in-office wait-time by filling out digital forms pre-appointment, and texting with their provider. Over 100 million Americans live within five miles of a same-day appointment with Solv.
“At Solv, we see an opportunity to push the industry towards a more digital, consumer-focused, and accessible reality,” said Solv CEO and co-founder Heather Fernandez.
The company’s primary business and revenue source is selling software to healthcare providers (mainly urgent care clinics). The software helps clients manage patient appointments and related interactions. The company said, 56% of people still skip visiting the doctor over a health concern because it is inconvenient to book an appointment.
“Just as the financial crisis changed consumer expectations and drove innovation in fintech, we see the same trends in healthcare because of the COVID-19 pandemic. By placing patients front and center, both sides of the healthcare system benefit, and we can move the industry closer to the future we are working to build,” added Heather Fernandez.
Including the latest funding round, Solv Health has raised over $80 million to date.
Online healthcare appointment booking companies have raised $334 in the first half of 2021. In June, binx health, an online platform for booking STD and SIT tests, announced the closing of a Series E financing of $104 million.